Sina open to spin-offs of specialized portals

Web portal Sina Corp yesterday said it remains optimistic on advertising growth next year and said it may consider spin-offs of some of its specialized portals.

The web portal said its third quarter net revenue fell 9 percent to $96.4 million year-on-year. Its net profit fell to $16.7 million from $18.85 million a year ago.

Sina's advertising revenue fell 16 percent in the third quarter, but rose 10 percent from the previous quarter to $63.8 million. The company said it expects advertising revenue of between $60 million and $62 million in the fourth quarter.