SINA Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Revenue Guidance for the Full Year 2016
For the full year, the company reported net revenue was $880.67 million compared to $768.24 million a year ago. Income from operations was $12.22 million compared to loss from operations of $40.91 million a year ago. The improved operating income was the result of the operating leverage generated from the company's Weibo platform and its efforts to discipline non-Weibo business spending since the beginning of 2015. Income before income taxes was $46.14 million compared to $168.74 million a year ago. Net income attributable to the company was $25.68 million compared to $176.80 million in 2014. Diluted earnings per share were $0.40 compared to $2.63 for the same period last year. Non-GAAP income from operations was $61.49 million compared to Non-GAAP loss from operations of $2.49 million a year ago. Non-GAAP net income attributable to the company was $61.49 million compared to Non-GAAP net loss of $2.49 million for the same period last year. Non-GAAP diluted earnings per share were $0.89 compared to loss of $0.76 for the same period last year. Capital expenditure totaled $35.4 million.
For the fiscal year 2016, the company is targeting non-GAAP net revenue between $850 million and $950 million. Revenue guidance assumes that RMB depreciates to U.S. dollar at an average rate of 8.5% in 2016 and excludes the expected recognition of $10.4 million in deferred license revenue related to the company's equity investments in E-House.