SINA Corp.'s (SINA) net income attributable to SINA for the fourth quarter of 2012 was $2.4 million, compared to $9.3 million for the same period last year. Net income per share for the fourth quarter was $0.03, compared to $0.14 for the same period last year.
Non-GAAP net income attributable to SINA for the fourth quarter was $9.0 million, compared to $14.0 million in the year ago quarter. Non-GAAP net income per share for the fourth quarter was $0.13, compared to $0.21 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Non-operating loss from for the fourth quarter of 2012 was $2.1 million, compared to a non-operating income of $3.8 million from the same period last year. Non-operating loss in the fourth quarter of 2012 included $4.4 million in losses from equity investments, or $0.4 million in losses on a non-GAAP basis, which were accounted for under the equity-method accounting and reported on a one-quarter lagging basis.
Net revenues for the quarter were $139.1 million, compared to $133.4 million for the same period last year. Non-GAAP net revenues for the fourth quarter of 2012 totaled $134.4 million, compared to $128.7 million for the same period last year. Ten analysts had consensus revenue estimate of $133.86 million for the quarter.
Online advertising revenues for the fourth quarter of 2012 were $110.7 million, compared to $103.7 million for the same period last year. Non-advertising revenues for the fourth quarter of 2012 totaled $28.5 million, compared to $29.7 million for the same period last year.
The company estimates that its non-GAAP net revenues for the first quarter of 2013 will be between $115 million and $119 million, including advertising revenues to be between $94 million and $96 million, and non-GAAP non-advertising revenues to be between $21 million and $23 million. Non-GAAP net revenues and non-GAAP non-advertising revenues exclude the recognition of $4.7 million in deferred license revenues related to SINA's equity investment in E-House/CRIC. Seven analysts have consensus revenue estimate of $117.39 million for the first-quarter.
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