HONG KONG (06/28/2000) - Leading Chinese language portal operator Sina.com expects to report revenue of US$5.5 million for its fiscal fourth quarter ended June 30, well above analysts' published estimates, the company said in a statement Tuesday.
Revenue will show a gain of 50 percent over the previous quarter, ended March 31, Sina.com said. In that quarter, the company posted revenue of $3.6 million and a pro forma net loss of $6.7 million.
Sina.com operates Internet portals designed for China, Hong Kong, Taiwan and North America. Its China portal was rated the most-viewed Web site in China in the second half of 1999 in a report produced earlier this year by the China Internet Network Information Center (CNNIC).
Sina's statement attributed the company's growing revenue to a first-mover advantage in the market for Chinese Internet content, which has drawn growing attention in the past year as the number of Internet users in China has soared.
CNNIC's report in January estimated the total at more than 9 million. [See "Survey: China Internet Use Soaring," January 24.]The company is next gearing up for competition from outside Greater China, according to Benjamin Tsiang, Sina's vice president of production.
"The Asian market and the Chinese market are the next major targets for the U.S. players," Tsiang said in an interview at the Computex trade show in Taipei earlier this month. "If we want to be number one, I think the biggest competition, will be the U.S. players."
Sina.com, in Sunnyvale, Calif., can be reached at +1-408-548-0000 or on the Web at http://www.sina.com.