SINA Corp. Updates 2016 Non-GAAP Revenue Guidance - Quick Facts

(RTTNews) - SINA Corp. (SINA), an online media company serving China and the global Chinese communities, announced for 2016, the company currently estimates that its non-GAAP net revenues are between $950 million and $1 billion, which is updated from the range of $850 million to $950 million and represents a 9% to 15% year over year increase from the year 2015. The company noted that this estimate assumes that RMB depreciates to US dollar at an average rate of 5% in 2016 and excludes the recognition of $10.4 million in deferred license revenues from E-House.

For the second-quarter, net revenues increased 14% year over year to $244.0 million. Non-GAAP net revenues increased 14% year over year to $241.4 million. Advertising revenues grew 16% year over year to $205.0 million.

Weibo's monthly active users in June 2016 grew 33% year over year to 282 million, 89% of which were mobile users. Average daily active users in June 2016 grew 36% year over year to 126 million.