Q3 2012 Earnings Call Transcript

Transcript Call Date 11/15/2012

Operator: Good day, ladies and gentlemen, and welcome to SINA Corporation's Third Quarter 2012 Earnings Conference Call. At this time, all participants are in a listen-only mode. However, we will be facilitating a question-and-answer session towards the end of the conference.

I would now like to turn the presentation over to your host for today's conference, Ms. Cathy Peng, Investor Relations Manager. Please go ahead, Ma'am.

Cathy Peng - IR Manager: Thank you. Good morning. Welcome to SINA's earnings release for the third quarter 2012. Joining me today are our President and CEO, Charles Chao; and our Chief Financial Officer, Herman Yu. This conference call is also being broadcast on the Internet and is available through the Investor Relations section of the SINA website.

Before the management presentation, I would like to read you the Safe Harbor statement in connection with today's conference call. During the course of this conference call, we may make forward-looking statements, statements that are not historical facts, including statements about our beliefs and expectations.

Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. SINA assumes no obligation to update the forward-looking statements in this conference call and elsewhere. Further information regarding these and other risks is included in SINA's Annual Report on Form 20-F for the year ended December 31, 2011, and its other filings with the Securities and Exchange Commission.

Additionally, I'd like to remind you that our discussion today includes non-GAAP measures, which exclude stock-based compensation and certain other items. We use non-GAAP financial measures to gain a better understanding of the SINA comparative operating performance and future prospects.

Our non-GAAP measures exclude certain expenses, gains and losses and other items that are not expected to result in future cash payments or that are non-recurring in nature or may not be indicative of our core operating results and business outlook. Please refer to our press release for more information about our non-GAAP measures.

During the call, we may discuss costs related to which is our best estimate of the direct cost incurred by Weibo. These numbers have not been added and excludes certain items including those used to derive non-GAAP measures, overhead allocations and intercompany transactions.

Following management's prepared remarks, we will open the lines for a brief Q&A session. With this, I would like to turn the call over to our President and CEO, Charles Chao.

Charles Chao - President and CEO: Thank you, Cathy and good morning everyone. Welcome to SINA earnings call for the third quarter of 2012. SINA return to profitability at operation level in a third quarter as a result of the healthy growth in advertising business driven by spend increases for London Olympic Games as well as increased acceptance for our newly launched Weibo advertising platform.

Read our Earnings Call Transcript disclaimer.
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