SINA Reports Second Quarter 2018 Unaudited Financial Results

BEIJING,Aug. 8,2018 --SINA Corporation (the "Company" or "SINA") (NASDAQ: SINA),a leading online media company serving China and the global Chinese communities,today announced its unaudited financial results for the second quarter ended June 30,2018.

"We had another good quarter." said Charles Chao,Chairman and CEO of SINA. "Weibo continued to record healthy growth in both user base and monetization despite more intensified competition." said Mr. Chao. "For SINA businesses,we continued to see robust growth in user scale of SINA mobile apps,which bodes well for improved mobile monetization of SINA media." Mr. Chao added.

Second Quarter 2018 Highlights

Both net revenues and non-GAAP net revenues increased 50% year-over-year to $537.4 million and $534.8 million,respectively.

Advertising revenues increased 54% year-over-year to $454.1 million.

Non-advertising revenues increased 31% year-over-year to $83.3 million. Non-GAAP non-advertising revenues increased 32% year-over-year to $80.7 million.

Income from operations increased 44% year-over-year to $136.2 million. Non-GAAP income from operations increased 38% year-over-year to $159.1 million.

Net income attributable to SINA was $35.1 million,or $0.47 for diluted net income per share attributable to SINA's ordinary shareholders. Non-GAAP net income attributable to SINA was $66.5 million,or $0.89 for non-GAAP diluted net income per share attributable to SINA's ordinary shareholders.

Second Quarter 2018 Financial Results

For the second quarter of 2018,SINA reported net revenues of $537.4 million,an increase of 50% compared to $358.9 million for the same period last year. Non-GAAP net revenues for the second quarter of 2018 were $534.8 million,an increase of 50% compared to $356.3 million for the same period last year.

Advertising revenues for the second quarter of 2018 were $454.1 million,an increase of 54% compared to $295.2 million for the same period last year,primarily driven by an increase of $151.6 million,or 69% growth in Weibo advertising and marketing revenues.

Non-advertising revenues for the second quarter of 2018 were $83.3 million,an increase of 31% compared to $63.8 million for the same period last year. Non-GAAP non-advertising revenues for the second quarter of 2018 were $80.7 million,an increase of 32% compared to $61.2 million for the same period last year,benefiting from increased Weibo membership fees,revenue share from live broadcasting business,and revenues derived from SINA fin-tech businesses.

Gross margin for the second quarter of 2018 was 80%,compared to 74% for the same period last year. Advertising gross margin for the second quarter of 2018 was 82%,compared to 76% for the same period last year. The increase in advertising gross margin was mainly resulted from our revenue reporting changed from gross basis to net basis under the new accounting standard adopted. Non-advertising gross margin for the second quarter of 2018 was 69%,compared to 68% for the same period last year.

Operating expenses for the second quarter of 2018 totaled $294.7 million,compared to $171.9 million for the same period last year. Apart from the inclusion of marketing expense related to barter transactions recorded under the new accounting standard as illustrated below,the increase in operating expenses was primarily attributable to the increase in sales and marketing expenses for user acquisition of Weibo and SINA mobile apps,as well as the increase in personal costs for product development. Non-GAAP operating expenses for the second quarter of 2018 totaled $272.1 million,compared to $150.6 million for the same period last year.

Income from operations for the second quarter of 2018 was $136.2 million,an increase of 44% compared to $94.7 million for the same period last year. Operating margin was 25%,slightly down from 26% for the same period last year. Non-GAAP income from operations for the second quarter of 2018 was $159.1 million,an increase of 38% compared to $115.5 million for the same period last year. Non-GAAP operating margin was 30%,down from 32% for the same period last year.

Non-operating income for the second quarter of 2018 was $1.2 million,compared to a non-operating loss of $13.4 million for the same period last year. Non-operating income for the second quarter of 2018 included (i) a $20.1 million net interest and other income; (ii) a $16.4 million net loss on sale of investments,fair value changes and impairment on investments,which is excluded under non-GAAP measure; and (iii) a $2.5 million loss pick-up from equity-method investments,which is reported one quarter in arrears and is mainly resulted from the loss pick-up related to the Company's investment in Leju Holding Limited ("Leju"). Non-operating loss for the second quarter of 2017 included (i) a $101.0 million gains from disposing of certain marketable securities and other gains,which are excluded under non-GAAP measure; (ii) a $113.1 million of investment impairment write down of the Company's investment in Leju,which is excluded under non-GAAP measure; and (iii) a $5.3 million loss pick-up from equity-method investments.

Income tax expenses for the second quarter of 2018 were $27.9 million,compared to $19.1 million for the same period last year,primarily owing to higher profitability with a relatively stable tax rates in our PRC operation.

Net income attributable to SINA's ordinary shareholders for the second quarter of 2018 was $35.1 million,compared to $23.4 million for the same period last year. Diluted net income per share attributable to SINA's ordinary shareholders for the second quarter of 2018 was $0.47,compared to $0.31 for the same period last year. Non-GAAP net income attributable to SINA's ordinary shareholders for the second quarter of 2018 was $66.5 million,compared to $52.7 million for the same period last year. Non-GAAP diluted net income per share attributable to SINA's ordinary shareholders for the second quarter of 2018 was $0.89,compared to $0.70 for the same period last year.

As of June 30,2018,SINA's cash,cash equivalents and short-term investments totaled $2.7 billion,compared to $3.4 billion as of December 31,2017. The decrease of SINA's cash,cash equivalents and short-term investments was mainly resulted from continued investment activities and the execution of the Company's share repurchase program. For the second quarter of 2018,net cash provided by operating activities was $16.4 million,capital expenditures totaled $162.1 million,and depreciation and amortization expenses amounted to $10.0 million.

Share Repurchase Program

On June 30,the Company has completed its $500 million share repurchase program which was approved in February 2016 by the Company's board of directors. As of June 30,the Company has repurchased approximately 3.4 million shares for approximately $302.6 million under the program.

SINA's board of directors has approved a new share repurchase plan whereby SINA is authorized to repurchase its own ordinary shares with an aggregate value of up to $500 million for a period through the end of December 2019. SINA expects to fund the repurchase out of its existing cash balance.‎ The share repurchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant and will be implemented in accordance with applicable rules under the U.S. Securities Exchange Act of 1934,as amended.

Financial Impact from New Revenue Guidance

As the Company adopted new revenue guidance ASC Topic 606 on January 1,2018,results for reporting periods beginning after January 1,2018 are presented under Topic 606 ('New Basis'),while prior period amounts are not adjusted and continue to be reported under Topic 605 ('Old Basis'),which is the Company's historic accounting method.

The Company's current period reported results which reflected the impact from the adoption of the new revenue guidance are as follows:

Three months ended June 30,2018

Adjustments

Old Basis

ASC 605

VAT

Barter

Transaction

New Basis

ASC 606

($ In thousands,except for percentage)

Net revenues

540,106

(30,159)

27,413

537,360

- Portal

120,788

(6,656)

672

114,804

- Weibo

423,593

(23,745)

26,741

426,589

Cost of revenues

136,632

(30,159)

-

106,473

Operating expenses

268,639

-

26,069

294,708

- Sales and marketing

157,520

-

26,069

183,589

Income from operations

134,835

-

1,344

136,179

Gross margin

74.7%

80.2%

Operating margin

25.0%

25.3%

Non-GAAP Measures

This release contains the following non-GAAP financial measures: non-GAAP net revenues,non-GAAP non-advertising revenues,non-GAAP advertising and non-advertising gross margin,non-GAAP operating expenses,non-GAAP income from operations,non-GAAP operating margin,non-GAAP net income attributable to SINA's ordinary shareholders and non-GAAP diluted net income per share attributable to SINA's ordinary shareholders. These non-GAAP financial measures should be considered in addition to,not as a substitute for,measures of the Company's financial performance prepared in accordance with U.S. GAAP. The Company's non-GAAP financial measures may be defined differently than similar terms used by other companies. Accordingly,care should be exercised in understanding how the Company defines its non-GAAP financial measures.

The Company's non-GAAP financial measures exclude recognition of deferred revenues related to the license granted to Leju,stock-based compensation,amortization of intangible assets,adjustment for non-GAAP to GAAP reconciling items on the share of equity method investments,gain (loss) on sale of investment,deemed disposal,fair value changes and impairment on investment,and income tax effects of above non-GAAP to GAAP reconciling items and adjustment for non-GAAP to GAAP reconciling items for the income attributable to non-controlling interests and amortization of convertible debt issuance cost. The Company's management uses these non-GAAP financial measures in their financial and operating decision-making,because management believes these measures reflect the Company's ongoing business operations in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures provide useful information to investors and others in the following ways: (i) in comparing the Company's current financial results with the Company's past financial results in a consistent manner,and (ii) in understanding and evaluating the Company's current operating performance and future prospects in the same manner as management does,if they so choose. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses,gain/loss and other items (i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative of the Company's core operating results and business outlook.

Use of non-GAAP financial measures has limitations. The Company's non-GAAP financial measures do not include all income and expense items that affect the Company's operations. They may not be comparable to non-GAAP financial measures used by other companies. Management compensates for these limitations by also considering the Company's financial results prepared in accordance with U.S. GAAP. Reconciliations of the Company's non-GAAP measures to the nearest comparable GAAP measures are set forth in the section below titled "Unaudited Reconciliation of Non-GAAP to GAAP Results."

Conference Call

SINA will host a conference call from 8:10 a.m. – 8:40 a.m. Eastern Time on August 8,2018 (or 8:10 p.m. – 8:40 p.m. Beijing Time on August 8,2018) to present an overview of the Company's financial performance and business operations. A live webcast of the call will be available through the Company's corporate website at http://ir.sina.com. The conference call can be accessed as follows:

US:

+1 845 675 0438

Hong Kong:

+852 3018 6776

China:

400 120 0654

International:

+65 6713 5440

Passcode for all regions:

3381946

A replay of the conference call will be available through morning Eastern Time August 16,2018. The dial-in number is +61 2 9003 4211. The passcode for the replay is 3381946.

About SINA

SINA is a leading online media company serving China and the global Chinese communities. Its digital media network of SINA.com (portal),SINA mobile (mobile portal and mobile apps) and Weibo (social media) enables internet users to access professional media and user generated content in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances.

SINA.com offers distinct and targeted professional content on each of its region-specific websites and a full range of complementary offerings. SINA mobile provides news information,professional and entertainment content customized for mobile users through mobile applications and mobile portal site SINA.cn.

Weibo is a leading social media platform for people to create,distribute and discover content. Based on an open platform architecture,Weibo provides unprecedented and simple way for people and organizations to publicly express themselves in real time,interact with others on a massive global platform and stay connected with the world.

Through these properties and other product lines,SINA offer an array of online media and social media services to its users to create a rich canvas for businesses and advertisers to effectively connect and engage with their targeted audiences.

Safe Harbor Statement

This press release contains forward-looking statements that relate to,among other things,SINA's expected financial performance and SINA's strategic and operational plans (as described,without limitation,in quotations from management in this press release). SINA may also make forward-looking statements in the Company's periodic reports to the U.S. Securities and Exchange Commission,in its annual report to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Statements that are not historical facts,including statements about the Company's beliefs and expectations,are forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. SINA assumes no obligation to update the forward-looking statements in this press release and elsewhere. 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 statement. Potential risks and uncertainties include,but are not limited to failure to meet internal or external expectations of future performance given the rapidly evolving markets; condition of the global financial and credit market; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly operating results; the Company's reliance on online advertising sales and value-added services for a majority of its revenues; failure to successfully develop,introduce,drive adoption of or monetize new features and products,including portal,Weibo and fin-tech products; failure to enter and develop the small and medium enterprise market by the Company or through cooperation with other parties,such as Alibaba; failure to successfully integrate acquired businesses; risks associated with the Company's investments,including equity pick-up and impairment; and failure to compete successfully against new entrants and established industry competitors. Further information regarding these and other risks is included in SINA's 2017 annual reports on Form 20-F and other filings with the Securities and Exchange Commission.

Contact:

Investor Relations

SINA Corporation

Phone: +86 10 5898 3336

Email: ir@staff.sina.com.cn

SINA CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. Dollars in thousands,except per share data)

Three months ended

Six months ended

June 30,

March 31,

June 30,

2018

2017

2018

2018

2017

Net revenues(1):

Advertising

$ 454,091

$ 295,153

$ 367,081

$ 821,172

$ 523,152

Non-advertising

83,269

63,779

73,671

156,940

113,845

537,360

358,932

440,752

978,112

636,997

Cost of revenues(1)(2):

Advertising

80,583

72,211

83,115

163,698

139,879

Non-advertising

25,890

20,113

25,592

51,482

39,017

106,473

92,324

108,707

215,180

178,896

Gross profit

430,887

266,608

332,045

762,932

458,101

Operating expenses:

Sales and marketing (1)(2)

183,589

83,408

139,687

323,276

151,491

Product development (2)

83,877

63,486

85,137

169,014

117,906

General and administrative (2)

27,242

25,036

33,932

61,174

49,059

294,708

171,930

258,756

553,464

318,456

Income from operations

136,179

94,678

73,289

209,468

139,645

Non-operating income (loss):

Loss from equity method investments,net

(2,527)

(5,265)

(1,772)

(4,299)

(2,122)

Gain on sale of investments,fair value changes and impairment

on investments,net (3)

(16,396)

(16,315)

7,226

(9,170)

(432)

Interest and other income,net

20,116

8,225

17,098

37,214

19,458

1,193

(13,355)

22,552

23,745

16,904

Income before income taxes

137,372

81,323

95,841

233,213

156,549

Income tax expense

(27,858)

(19,135)

(18,750)

(46,608)

(32,961)

Net income

109,514

62,188

77,091

186,605

123,588

Less: Net income attributable to non-controlling interests

74,462

38,798

48,397

122,859

61,674

Net income attributable to SINA's ordinary shareholders

$ 35,052

$ 23,390

$ 28,694

$ 63,746

$ 61,914

Basic net income per share

$ 0.49

$ 0.33

$ 0.40

$ 0.89

$ 0.87

Diluted net income per share (4)

$ 0.47

$ 0.31

$ 0.38

$ 0.85

$ 0.83

Shares used in computing basic net income per share

71,210

71,197

71,440

71,324

71,078

Shares used in computing diluted net income per share

73,553

73,890

74,036

73,793

73,667

(1) On January 1,the Company adopted ASC 606 Revenue from Contracts with Customers using the modified retrospective method,which means that prior periods amount will be reported on a

historical basis and amounts for 2018 are reported on the new basis. Under the new accounting standard,the main impact to the Company is that it now reports revenue net of value added tax and

recognizes revenues and expenses at fair value for advertising barter transactions.

(2) Stock-based compensation in each category:

Cost of revenues

$ 2,890

$ 2,106

$ 2,541

$ 5,431

$ 4,336

Sales and marketing

6,474

5,269

4,880

11,354

9,852

Product development

7,735

6,668

7,487

15,222

13,658

General and administrative

6,915

8,143

7,408

14,323

15,530

(3) The Company adopted ASU 2016-1,Classification and Measurement of Financial Instruments beginning the first quarter of fiscal year 2018. After the adoption of this new accounting update,the

Company will measure long-term investments other than equity method investments at fair value through earnings. The Company recognized $8.7 million of loss from fair value changes in the investments

for the three months ended June 30,2018. For those investments without readily determinable fair values,the Company will elect to record these investments at cost,less impairment,and plus or minus

subsequent adjustments for observable price changes. Changes in the basis of these investments will be reported in current earnings.

(4) Net income attributable to SINA's ordinary shareholders is adjusted for diluted shares issued by our subsidiary and equity method investments.

SINA CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

June 30,

December 31,

2018

2017

Assets

Current assets:

Cash and cash equivalents

$ 1,049,225

$ 1,990,552

Short-term investments

1,647,969

1,381,991

Restricted cash

137,806

216,151

Accounts receivable,net

398,654

285,681

Prepaid expenses and other current assets

458,402

228,238

Subtotal

3,692,056

4,102,613

Property and equipment,net

259,627

262,676

Goodwill and intangible assets,net

270,366

104,207

Long-term investments (1)

1,458,380

1,288,816

Other assets

94,307

57,082

Total assets

$ 5,774,736

$ 5,815,394

Liabilities and Shareholders' Equity

Current liabilities:

Accounts payable

$ 138,680

$ 130,431

Amount due to customers

137,151

Accrued expenses and other current liabilities

478,363

446,779

Short-term bank loan

87,278

89,309

Convertible debt

153,085

153,092

Deferred revenues

144,520

134,580

Income taxes payable

80,948

102,458

Subtotal

1,220,680

1,272,800

Convertible debt

882,054

879,983

Long-term deferred revenues

48,965

54,372

Other long-term liabilities

8,279

8,510

Total liabilities

2,159,978

2,215,665

Shareholders' equity

SINA shareholders' equity (1)

2,738,678

2,846,842

Non-controlling interests

876,080

752,887

Total shareholders' equity

3,614,758

3,599,729

Total liabilities and shareholders' equity

$ 5,394

(1)The Company adopted ASU 2016-1,Classification and Measurement of Financial Instruments beginning the first quarter of

fiscal year 2018. After the adoption of this new accounting update,the Company will measure long-term investments other than

equity method investments at fair value through earnings. For those investments without readily determinable fair values,the

Company will elect to record these investments at cost,and plus or minus subsequent adjustments for observable

price changes. Changes in the basis of these investments will be reported in current earnings. The cumulative impact arising from

the adoption was a credit to retained earnings as of January 1,2018 of $49.0 million.

SINA CORPORATION

UNAUDITED ADDITIONAL INFORMATION

(U.S. Dollars in thousands)

Three months ended

Six months ended

June 30,

2018

2017

2018

2018

2017

Net revenues

Portal:

Portal Advertising

$ 84,173

$ 77,931

$ 64,132

$ 148,305

$ 137,722

Other

30,631

28,746

26,774

57,405

48,908

Subtotal

114,804

106,677

90,906

205,710

186,630

Weibo:

Advertising and marketing

369,942

218,340

302,949

672,891

387,637

Weibo VAS

56,647

35,033

46,934

103,581

64,937

Subtotal

426,589

253,373

349,883

776,472

452,574

Elimination

(4,033)

(1,118)

(37)

(4,070)

(2,207)

$ 537,360

$ 358,932

$ 440,752

$ 978,112

$ 636,997

Cost of revenues

Portal:

Portal Advertising

$ 28,546

$ 27,647

$ 29,373

$ 57,919

$ 55,129

Other

20,146

14,368

16,469

36,615

27,070

Subtotal

48,692

42,015

45,842

94,534

82,199

Weibo

61,790

50,372

62,902

124,692

96,822

Elimination

(4,009)

(63)

(37)

(4,046)

(125)

$ 106,473

$ 92,324

$ 108,707

$ 215,180

$ 178,896

Gross margin

Portal

58%

61%

50%

54%

56%

Weibo

86%

80%

82%

84%

79%

80%

74%

75%

78%

72%

SINA CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

(U.S. Dollars in thousands,except per share data)

Three months ended

June 30,2018

June 30,2017

March 31,2018

Non-GAAP

Non-GAAP

Non-GAAP

Actual

Adjustments

Results

Actual

Adjustments

Results

Actual

Adjustments

Results

Advertising revenues

$ 454,091

$ 454,091

$ 295,153

$ 295,153

$ 367,081

$ 367,081

Non-advertising revenues

83,269

(2,609)

(a)

80,660

63,779

(2,609)

(a)

61,170

73,671

(2,609)

(a)

71,062

Net revenues

$ 537,360

$ (2,609)

$ 534,751

$ 358,932

$ (2,609)

$ 356,323

$ 440,752

$ (2,609)

$ 438,143

(2,609)

(a)

(2,609)

(a)

2,890

(b)

2,106

(b)

2,541

(b)

Gross profit

$ 430,887

$ 281

$ 431,168

$ 266,608

$ (503)

$ 266,105

$ 332,045

$ (68)

$ 331,977

(21,124)

(b)

(20,080)

(b)

(19,775)

(b)

(1,523)

(c)

(1,227)

(c)

(1,635)

(c)

Operating expenses

$ 294,708

$ (22,647)

$ 272,061

$ 171,930

$ (21,307)

$ 150,623

$ 258,756

$ (21,410)

$ 237,346

(2,609)

(a)

24,014

(b)

22,186

(b)

22,316

(b)

1,523

(c)

1,227

(c)

1,635

(c)

Income from operations

$ 136,179

$ 22,928

$ 159,107

$ 94,678

$ 20,804

$ 115,482

$ 73,289

$ 21,342

$ 94,631

(2,014

(b)

(2,609)

(a)

22,523

(c)

22,186

(b)

1,635

(c)

40

(d)

1,227

(c)

(451)

(d)

16,396

(e)

75

(d)

(7,226)

(e)

(8,849)

(f)

16,315

(e)

(8,183)

(f)

1,035

(g)

(7,745)

(f)

1,035

(g)

(85)

(h)

(180)

(h)

21

(h)

Net income attributable to SINA's ordinary shareholders

$ 35,052

$ 31,465

$ 66,517

$ 23,390

$ 29,269

$ 52,659

$ 28,694

$ 6,538

$ 35,232

Diluted net income per share *

$ 0.47

$ 0.89

$ 0.31

$ 0.70

$ 0.38

$ 0.47

Shares used in computing diluted net income per share

73,553

-

73,890

-

73,036

-

74,036

Gross margin - advertising

82%

1%

83%

76%

-

76%

77%

1%

78%

Gross margin - non-advertising

69%

-1%

68%

68%

-1%

67%

65%

-1%

64%

Operating margin

25%

5%

30%

26%

6%

32%

17%

5%

22%

Six months ended

June 30,2017

Non-GAAP

Non-GAAP

Actual

Adjustments

Results

Actual

Adjustments

Results

Advertising revenues

$ 821,172

$ 821,172

$ 523,152

$ 523,152

Non-advertising revenues

156,940

(5,218)

(a)

151,722

113,845

(5,218)

(a)

108,627

Net revenues

$ 978,112

$ (5,218)

$ 972,894

$ 636,997

$ (5,218)

$ 631,779

(5,218)

(a)

(5,218)

(a)

5,431

(b)

4,336

(b)

Gross profit

$ 762,932

$ 213

$ 763,145

$ 458,101

$ (882)

$ 457,219

(40,899)

(b)

(39,040)

(b)

(3,158)

(c)

(1,382)

(c)

Operating expenses

$ 553,464

$ (44,057)

$ 509,407

$ 318,456

$ (40,422)

$ 278,034

(5,218)

(a)

46,330

(b)

43,376

(b)

3,158

(c)

1,382

(c)

Income from operations

$ 209,468

$ 44,270

$ 253,738

$ 139,645

$ 39,540

$ 179,185

(5,330

(b)

(5,218)

(a)

3,158

(c)

43,376

(b)

(411)

(d)

1,382

(c)

9,170

(e)

299

(d)

(17,032)

(f)

432

(e)

2,070

(g)

(13,239)

(f)

(64)

(h)

1,292

(h)

Net income attributable to SINA's ordinary shareholders

$ 63,746

$ 38,003

$ 101,749

$ 61,914

$ 28,324

$ 90,238

Diluted net income per share *

$ 0.85

$ 1.35

$ 0.83

$ 1.21

Shares used in computing diluted net income per share

73,793

-

73,667

-

73,667

Gross margin - advertising

80%

1%

81%

73%

1%

74%

Gross margin - non-advertising

67%

-1%

66%

66%

-2%

64%

Operating margin

21%

5%

26%

22%

6%

28%

(a) To exclude the recognition of deferred revenue related to the license granted to Leju.

(b) To exclude stock-based compensation.

(c) To adjust amortization of intangible assets.

(d) To exclude the non-GAAP to GAAP reconciling items on the share of equity method investments,net of share of amortization of intangibles not on their books.

(e) To exclude (gain) loss on sale of investments,(gain) loss on deemed disposal,net.

(f) To exclude Non-GAAP to GAAP reconciling items for the income attributable to non-controlling interests.

(g) To exclude the amortization of convertible debt issuance cost.

(h) To exclude the provision (benefit) for income tax related to item (c) and (e). Other non-GAAP to GAAP reconciling items have no income tax effect.**

*

Net income attributable to SINA's ordinary shareholders is adjusted for diluted shares issued by our subsidiary and equity method investments.

**

Most of the reconciliation items were recorded in entities in tax free jurisdictions hence no income tax implications. For impairment on investments,valuation allowances were

made for those differences the Company does not expect they can be realized in the foreseeable future.

UNAUDITED RECONCILIATION OF SINA'S SHARE OF EQUITY INVESTMENTS' NON-GAAP TO GAAP RESULTS*

Three months ended

June 30,2018

Actual

Adjustments

Non-GAAP Results

Actual

Adjustments

Non-GAAP Results

Actual

Adjustments

Non-GAAP Results

To exclude stock-based compensation

$ 833

$ 736

$ 584

To exclude amortization of intangible

assets resulting from business acquisitions

1,115

1,035

1,123

Toexclude(gain) lossondisposal and impairment on investments,net

75

(1,319)

1,669

To exclude gain resulting from the fair value changes in

investments,net

(1,313)

(637)

(3,339)

To exclude tax impacts related to amortization of intangible assets

(253)

(143)

(178)

Loss from equity method investments,net

$ (2,944)

$ 457

$ (2,487)

$ (4,862)

$ (328)

$ (5,190)

$ (2,082)

$ (141)

$ (2,223)

Share of amortization of equity investments'

intangibles not on their books

351

(351)

-

(523)

523

-

224

(224)

-

Share of tax impacts related to amortization of

equity investments' intangibles not on their books

66

(66)

-

120

(120)

-

86

(86)

-

$ (2,527)

$ 40

$ (2,487)

$ (5,265)

$ 75

$ (5,190)

$ (1,772)

$ (451)

$ (2,223)

Six months ended

June 30,2017

Non-GAAP

Non-GAAP

Actual

Adjustments

Results

Actual

Adjustments

Results

To exclude stock-based compensation

$ 1,417

$ 1,056

To exclude amortization of intangible

assets resulting from business acquisitions

2,238

1,137

Toexclude(gain) lossondisposal and impairment on investments,net

1,744

(1,640)

To exclude gain resulting from the fair value changes in

investments,net

(4,652)

(598)

To exclude tax impacts related to amortization of intangible assets

(431)

(164)

Loss from equity method investments,net

$ (5,026)

$ 316

$ (4,710)

$ (1,614)

$ (209)

$ (1,823)

Share of amortization of equity investments'

intangibles not on their books

575

(575)

-

(648)

648

-

Share of tax impacts related to amortization of

equity investments' intangibles not on their books

152

(152)

-

140

(140)

-

$ (4,299)

$ (411)

$ (4,710)

$ (2,122)

$ 299

$ (1,823)

* Earning (Loss) from equity method investments is recorded one quarter in arrears.

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