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.

Related Summaries