Sina fourth-quarter sales beat Street despite ad market concerns
(Reuters) – Sina Corp posted better-than-expected fourth-quarter revenue and profit amid concerns about the slowing growth of Chinese online advertising. Shares in the company, which runs China’s largest online portal and the Twitter-like "Weibo" microblogging platform, climbed 6 percent to $56. 50 after-hours. They have fallen 13. 4 percent since the start of the fourth quarter, underperforming a 2 percent rise in the Nasdaq. Net profit fell 74 percent in the fourth quarter to $2. 4 million, or 3 cents per share, from $9. 3 million, or 14 cents per share, a year earlier. . . .
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