Sina.com (
Sina reported a pro forma net loss of US$5.6 million or US$0.14 loss per share for the third fiscal quarter ended March 31.
Sina's third quarter revenues fell 19.6 percent to US$6.13 million from US$7.62 million in the second quarter as a 19 percent drop in advertising revenue battered the company's net revenues.
Sina's advertising revenues accounted for 84.4 percent of the dotcom company's net revenues in the third quarter.
Of Sina's operations in China, Hong Kong, Taiwan and the US, only China advertising revenues grew in the third quarter.
Sina's China advertising revenues grew 73 percent in the third quarter, compared to 65 percent in the second quarter.
In Taiwan, Sina's advertising revenues stayed stagnant at 5 percent for both the second and third quarter.
Sina's Hong Kong advertising revenues slipped to 3 percent in the third quarter, from 5 percent in the second quarter.
And Sina's US advertising revenues dropped to 19 percent in the third quarter, from 25 percent in the second quarter.
Sina management say that the company's net losses are expected to widen while growth of the US economy, and to a lesser extent the global economy, slows down.
"Next quarter, we expect advertising revenues to drop roughly 10 percent," Chao said.
But Chao added that once the Taiwan and US economy recovered, Sina's revenues would rebound. Analysts who cover Sina expect the company to break even in 2004, which Wang Zhidong (
Sina has been diversifying its advertising revenue models, no longer relying on the banner format to sell online advertising.
Sina has began selling online advertisements based on time slots to make the online advertising measurement more in line with traditional media.
As of March, Sina.com had 2.2 billion page views, 22.6 million registered users and 25 million unique users.
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