SINA Corporation reported unaudited consolidated earnings results for first quarter ended March 31, 2013. For the quarter, the company’s net revenue was $125,973,000 against $106,220,000 a year ago. Loss from operations was $9,850,000 against $18,087,000 a year ago. Loss before income tax was $14,391,000 against $15,416,000 a year ago. Net loss attributable to company was $13,171,000 against $13,740,000 a year ago. Basic and diluted net income per share attributable to company was $0.20 against $0.21 a year ago. Non-GAAP net revenues for the first quarter of 2013 totaled $121.3 million, compared to $101.5 million for the same period last year. Non-GAAP loss from operations for the first quarter of 2013 was $9.3 million, compared to $18.9 million for the same period last year. Non-GAAP net income attributable to SINA for the first quarter of 2013 was $1.5 million, compared to net loss of $14.0 million for the same period last year. Non-GAAP diluted net income per share attributable to SINA for the first quarter of 2013 was $0.02, compared to net loss per share of $0.21 for the same period last year. For the first quarter of 2013, cash used in operating activities was $5.9 million, capital expenditures totaled $25.4 million. The company estimates that its non-GAAP net revenues for the second quarter of 2013 will be between $143 million and $147 million, including advertising revenues to be between $117 million and $119 million, and non-GAAP non-advertising revenues to be between $26 million and $28 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.

SINA Corporation has entered into an agreement for the construction of a new office building in Zhongguancun Software Park, Haidian District, Beijing. In anticipation of the continuing growth of the Company and to meet the objective of keeping the employees together, SINA plans to relocate its principal executive offices, information and technology center as well as administrative and support facilities to the new office building. The gross floor area for the new office building as currently planned is approximately 106,500 square meters and the aggregate construction cost is expected to be in the range of $160-180 million, to be paid in installments over the construction period.

SINA Corporation announced that they will report Q1, 2013 results at 5:00 PM, China Standard Time on May 16, 2013