Additionally, I'd like to remind you that our discussion today includes non-GAAP measures, which excludes stock-based compensation and certain other items. We use non-GAAP financial measures to gain a better understanding of the SINA comparative operating performance and future prospects. Our non-GAAP measures exclude certain expenses, gains and losses and other items that are not expected to result in future cash payments or that are nonrecurring in nature or may not be indicative of our core operating results and business outlook.
Please refer to our press release for more information about our non-GAAP measures. Following management's prepared remarks, we'll open the lines for a brief Q&A session.
With this, I would like to turn the call over to our President and CEO, Charles Chao.
Guowei ChaoThank you, Lidan. And good morning, everyone. Welcome to SINA's earnings conference call for the second quarter of 2012.The official results for SINA on an overall basis for the second quarter were mixed. On one hand, we saw quite strong traffic growth across all terminals and all major product lines, including Weibo, PC Internet portal and the mobile Internet portal in the month of June. On the other hand, the advertising market in China continued to be challenging due to the soft macroeconomic conditions in China. The advertising revenues grew by 12% year-over-year and by 31% quarter-over-quarter in the second quarter.In the month of April, we launched Weibo display advertising systems for brand advertising. The new system incorporates social and interest graphs recommendation engine, which allows advertising to be more targeted and relevant. The initial response from our customers and advertising agencies has been encouraging. The advertising revenues from Weibo accounted for approximately 10% of our total advertising revenues in the second quarter.We expect the advertising revenue contribution from Weibo will accelerate in the second half of the year, which will help our overall advertising growth rate as compared to the market.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV