Sina Q1 revenue four point three five one US $billion down 8percent year on year net profit of US $82.4 million

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 Sina Q1 revenue four point three five one US $billion down 8percent year on year net profit of US $82.4 million


In addition, in the first quarter of 2020, Sinas operating expenses and operating profit are respectively two point five seven nine Sina said the decline in expenditure caused by the new crown epidemic was not enough to completely offset the impact of the epidemic on revenue.

First quarter 2020 performance focus

u00b7Net revenue decreased by 8% year on year to four point three five one Billion dollars. Non GAAP net revenue decreased 8% year on year to four point three two four US $billion, down 4% year-on-year based on the exchange rate of the same period last year.

u00b7Advertising revenue fell 20% year on year to three point one zero zero Billion dollars.

u00b7Non advertising revenue increased 44% year on year to one point two five one Billion dollars. Non GAAP non advertising revenue increased 45% year on year to one point two two four Billion dollars.

u00b7Sinas net profit is 82.4 million US dollars, equal to diluted net income per share one point two one Dollars. Non US GAAP Sina should account for $17 million in net profit, or 25 cents diluted net income per share.

Business performance in the first quarter of 2020

Net revenue in the first quarter of 2020 four point three five one Billion US dollars, compared with the same period of last year four point seven five one Billion dollars down 8%. Non GAAP net revenue for the first quarter of 2020 is four point three two four Billion US dollars, compared with the same period of last year four point seven two five Billion dollars down 8%.

The advertising revenue in the first quarter of 2020 is three point one zero zero Billion US dollars, compared with the same period of last year three point eight eight zero The novel coronavirus pneumonia epidemic (new crown epidemic) has a negative impact on the overall advertising demand and adverse exchange factors, which is 20% lower than the US $100 million.

In the first quarter of 2020, the gross profit rate was 66%, compared with 76% in the same period of last year. In the first quarter of 2020, the gross profit rate of advertising business is 75%, compared with 78% in the same period of last year. In the first quarter of 2020, the gross profit margin of non advertising business is 44%, compared with 64% in the same period of last year. This is mainly related to our use of the expected credit loss method to accrue the credit loss reserve of financial technology business in accordance with asu2016-13 requirements, as well as the total presentation of some financial technology business income and cost.

Operating profit in the first quarter of 2020 was US $30.8 million, compared with us $86.9 million in the same period last year. In the first quarter of 2020, the operating profit margin was 7% compared with 18% in the same period of last year, which was mainly related to the fact that the decrease in expenditure caused by the new crown epidemic was not enough to completely offset the impact of the epidemic on revenue. Non GAAP operating profit in the first quarter of 2020 was $57.1 million, compared with the same period last year one point one four two Billion dollars. Non GAAP operating profit margin in the first quarter of 2020 was 13%, compared with 24% in the same period of last year.

Non operating profit in the first quarter of 2020 one point two six seven Billion US dollars, compared with 77.7 million US dollars in the same period last year. Non operating profit in the first quarter of 2020 mainly includes (I) one point five three five Net income from deemed disposal of investment of US $100 million and net loss caused by disposal of investment of US $47.1 million, changes in fair value of investment and impairment are not included in non operating profit and loss calculated in accordance with non-U.S. GAAP; (II) net income from equity investment of US $15 million, which is deferred One quarter recognition; (III) net interest and other income of $5.2 million. Non operating profit in the first quarter of 2019 mainly includes (I) net income from the sale of investment of $80.8 million, changes in fair value of investment and impairment, which is not included in non operating profit and loss calculated in accordance with non-U.S. GAAP; (II) net interest of $13.1 million and other income; (III) net loss of equity investment of $16.3 million, which is deferred for one quarter Degree confirmation.

The income tax expense in the first quarter of 2020 is US $25.8 million, compared with us $65.2 million in the same period of last year, which is mainly related to the decrease of deferred tax expense caused by the change of fair value of investment and the decrease of profit in the first quarter of 2020.

In the first quarter of 2020, Sinas ordinary shareholders should account for 82.4 million US dollars in net profit, compared with 33.1 million US dollars in the same period of last year. In the first quarter of 2020, the diluted net income per share of sina common shareholders is one point two one US dollar, 46 cents a year ago. In the first quarter of 2020, non-U.S. GAAP Sina common shareholders accounted for a net profit of $17 million, compared with $28.9 million in the same period last year. In the first quarter of 2020, non-U.S. GAAP Sina common shareholders should account for 25 cents of diluted net income per share, compared with 40 cents a year earlier.

As of March 31, 2020, Sinas total cash, cash equivalents and short-term investments amounted to $2.7 billion, compared with $2.9 billion as of December 31, 2019. Net cash inflow from operating activities in the first quarter of 2020 was $77.3 million, capital expenditure was $11.1 million and depreciation and amortization expense was $11.5 million.

Other developments

As of March 31, 2020, the company has repurchased about 3.2 million shares accumulatively according to its 2020 repurchase plan, with an average cost per share of about thirty point five nine Dollars. As of March 31, 2020, the company has issued 65384161 shares of common stock.

Extended reading Baidu left behind? Net profit doubled under the epidemic, Robin Li overnight rose 6 billion 300 million micro-blog Q1 revenue Three point two Net profit of US $52.1 million fell 65% year on year. Huawei has shipped 15 million 5g mobile phones, with prices ranging from 2000 to 16 thousand. Source: Qiao JunJing, editor in charge of Netease Technology Report_ NBJ11279