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SINA Management Discusses Q2 2012 Results - Earnings Call Transcript

As social media advertising is relatively new in China, it will take some time to educate the market. And in the meanwhile, we will need time to fine-tune the recommendation engine as user data accumulates. In addition to Weibo, online video advertising also contributed to the growth of advertising revenues this quarter, as revenues from online video grew by 126% in the second quarter, as compared to the same period last year.

As we entered into the third quarter, the advertising market continued to be soft. But with the help of London Olympic Games, as well as the more adoption of Weibo advertising, we expect that our advertising revenue growth will accelerate in the third quarter.

During the second quarter, we are pleased to see that the user base and the user activities for Weibo have all experienced strong growth, despite tightened regulatory environment. The total number of registered accounts for Weibo reached 368 million at end of June, up 13.6% from 324 million at the end of March. More importantly, the average number of daily active users, or DAU, grew by 21% from the month of March to the month of June and reached 26 -- reached 36.5 million. The average number of daily active users as a percentage for the registered account increased to 10% in the month of June, as compared to 9% in the month of March, a strong indication of increased user activeness for Weibo platform. Among the daily active users, 69% used the mobile terminals to access the Weibo in the month of June, as compared to 64% in the month of March.

While the overall market sentiment was still soft when we entered the second quarter, it is slightly better than we experienced in the first quarter. The time spent per active user per day increased slightly but remained at approximately one hour for the month of June for Weibo. During the London Olympic Games, Weibo played a prominent role in news reporting, content distribution, as well as user participation for Olympic-related topics and events.

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