Sina announced its unaudited financial results for the second quarter ended June 30, 2011 on June 17, 2011.
Q2 net revenues grew 20% year over year to $119.0 million. Non-GAAP net revenues grew 21% year over year to $114.3 million. Its advertising revenues grew 26% year over year to a record $91.8 million. But, there was an increase in operating expenses was primarily due to increased marketing expenditures and personnel-related expenses related to Weibo.com.
“SINA’s brand advertising business was robust in the second quarter, despite growing on top of a large base, in part benefiting from the elevation of SINA’s media brand as the popularity of Weibo.com spread in China,” said Charles Chao, CEO of SINA, “Launched less than two years ago, Weibo.com has become an online phenomenon with registered accounts recently surpassing 200 million.”
Tencent also revealed last week their total Weibo users exceeded 233 million.