By Melanie Lee
(Reuters) – Chinese Internet company Sina Corp said its fourth quarter will be hit by a softer economy and posted weaker-than-expected sales guidance, despite a stronger revenue contribution from its hot microblogging platform Weibo.
Shares in Sina fell 7 percent after it forecast adjusted net revenue of $132 million to $136 million in the current quarter, below analysts’ expectations for $151.9 million according to Thomson Reuters I/B/E/S.
Nov 15 (Reuters) – Chinese Internet company Sina Corp
said its fourth quarter will be hit by a softer economy
and posted weaker-than-expected sales guidance, despite a
stronger revenue contribution from its hot microblogging
Shares in Sina fell 7 percent after it forecast adjusted net
revenue of $132 million to $136 million in the current quarter,
below analysts’ expectations for $151.9 million according to
Thomson Reuters I/B/E/S.
SHANGHAI, Nov 14 (Reuters) – Tencent Holdings,
China’s biggest online gaming and social networking company,
surprised with a rare earnings miss, as efforts to expand into
new businesses hit margins and the number of fee-paying users
for its Internet services fell.
Searching for fresh revenue streams, Tencent has steadily
expanded into e-commerce and online video but the highly
competitive and cost-heavy nature of both these industries has
meant that Tencent has had to spend in order to boost sales
SHANGHAI, Nov 9 (Reuters) – For the next few days,
26-year-old Joy Zhang will be watching her favourite American
shows like “Prison Break” on a computer, since China’s TV
channels will be devoted to state-approved fare for the duration
of the Communist Party’s once-in-five-years congress.
Shanghai-based Zhang, who works for a manufacturing company,
is part of a growing number of young people unimpressed by
patriotic period pieces known as “red” dramas that swamp the
airwaves at times of major political events.
TOKYO/SHANGHAI (Reuters) – Sony Corp’s PlayStation 3 has received a certification of quality from a Chinese safety standards body, sparking speculation that China will end a decade-old ban on home game consoles.
China has banned video game consoles since 2000, citing a need to protect the well-being of its young people. Some analysts cautioned against reading too much into Sony’s new certificate, noting the organization that gave it has no regulatory authority.
SHANGHAI, Nov 1 (Reuters) – As China prepares for a
generational power shift in the next two weeks, a similar shift
is happening online that is testing the limits and displaying
the evolution of China’s legions of state-directed censors.
Since its launch three years ago, Weibo, China’s version of
Twitter, has become the country’s water cooler, a place where
nearly 300 million Internet users opine on everything from
Korean soap operas to China’s latest political intrigue.
Oct 29 (Reuters) – Baidu Inc, China’s largest
search engine company, posted its slowest quarterly revenue
growth in more than two years and forecast softer-then-expected
growth this quarter, hurt by weaker sales as China’s economic
However, the company — which still grew revenue by 50
percent in the third quarter — said it added a record number of
new advertisers for the quarter and was focusing on boosting
revenue from fast-growing mobile search traffic.
SHANGHAI, Oct 26 (Reuters) – China’s high-end liquor
companies raised prices in a faltering economy and faced a
Beijing clampdown on drinking their pricey booze at banquets,
yet still managed to turn in strong quarterly profits.
Kweichow Moutai Co Ltd, China’s leading maker of
the potent and expensive baijiu liquor, reported a doubling of
its third-quarter net income to 3.4 billion yuan ($544.72
million) on Thursday, beating analysts forecasts of 2.4 billion
yuan, according to Thomson Reuters I/B/E/S.
SHANGHAI (Reuters) – In 20 years in China, Microsoft Corp hasn’t had much luck. It is the world’s largest market for PCs and yet with piracy rates as high as 77 percent, the software company is seeing only a fraction of the revenue it could collect.
That might change with the launch of its Surface tablet, which goes on sale online in China at the same time as a handful of other countries. The Surface is a rare piece of Microsoft hardware, and will run the company’s new Windows 8 operating system.
HANGZHOU, China (Reuters) – China’s Huawei Technologies Co Ltd said on Wednesday a U.S. congressional committee probe into whether its access to communications infrastructure poses a security risk is unlikely to affect its businesses in other overseas markets.
The House of Representatives’ Intelligence Committee issued a report earlier this month urging U.S. companies to stop doing business with Huawei and ZTE Corp, the world’s No.2 and No.5 telecommunications equipment vendors respectively, over security concerns.