February 19, 2013 / 9:47 PM / in 5 years

Sina reports Q4 ad sales at lower end of forecasts

Feb 19 (Reuters) - Sina Corp’s quarterly advertising revenue grew 7 percent but came in towards the lower end of its own forecasts, as advertisers spent cautiously toward the end of 2012 and new “Weibo” advertising products drew muted sales.

The company, which runs China’s largest online portal and the Weibo microblogging platform, said on Tuesday it expects first-quarter adjusted net revenue to range between $115 million and $119 million, in line with average predictions on Wall Street.

Advertising revenue came in at $110.7 million in the fourth quarter, versus a previous company projection for between $110 million and $112 million.

It posted overall fourth-quarter net revenue of $139.1 million, versus an average forecast for $133.9 million according to Thomson Reuters I/B/E/S.

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