Sina posts big Q1 loss as ad business slows down

05/16/2013 | Bloomberg Businessweek

Sina, owner of China's Weibo microblogging platform, posted a net loss of $13.2 million in the first quarter despite boosting sales by 19% to $126 million. Analysts blamed an online-advertising slowdown and operating inefficiencies at the Twitter-style network. "Sina's costs on development and staff is quite big. The company lacks new revenue drivers," said iResearch analyst Deco You.

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