SHANGHAI, China—March 2, 2016—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 fourth quarter and the fiscal year ended December 31, 2015.

　　Fourth Quarter 2015 Highlights

　　•Net revenues increased 21% year over year to $256.2 million. Non-GAAP net revenues increased 22% year over year to $253.6 million.

　　•Advertising revenues grew 23% year over year to $223.2 million. Non-advertising revenues were $33.0 million. Non-GAAP non-advertising revenues were $30.4 million.

　　•Net income attributable to SINA was $14.6 million, or $0.21 diluted net income per share attributable to SINA. Non-GAAP net income attributable to SINA was $24.8 million, or $0.35 non-GAAP diluted net income per share attributable to SINA.

　　Fiscal Year 2015 Highlights

　　•Net revenues increased 15% year over year to $880.7 million. Non-GAAP net revenues increased 15% year over year to $870.2 million, within the Company’s annual guidance between $800 million and $900 million.

　　•Advertising revenues grew 16% year over year to $743.2 million. Non-advertising revenues were $137.4 million. Non-GAAP non-advertising revenues were $127.0 million.

　　•Net income attributable to SINA was $25.7 million, or $0.40 diluted net income per share attributable to SINA. Non-GAAP net income attributable to SINA was $56.2 million, or $0.89 non-GAAP diluted net income per share attributable to SINA.

　　“We are delighted that SINA closed the year 2015 with a solid quarter on both Weibo and portal.” said Charles Chao, Chairman and CEO of SINA. “2015 was a remarkable year for Weibo. Our user community continues to grow at a rapid pace, our user engagements are improving, our operations are optimized and Weibo monetization is showing strong momentum. We are particularly encouraged by Weibo’s strong performance in the mobile and social landscape. Heading into 2016, we believe that Weibo will continue to execute core strategies to grow user base and enhance user engagement, capitalize mobile traffic and capture opportunities on new horizons, such as short video. We will continue to build our businesses through diversifying mobile ad offerings, improving ad effectiveness and expanding our customer base to bring our platform into full potential.” said Charles Chao, Chairman and CEO of SINA.

　　“On the portal side, we have prioritized mobile strategy and have witnessed meaningful increase in share of mobile traffic and consistent improvement in mobile monetization. To further leverage our brand equity and achieve long-term growth, we restructured the organization to better execute vertical strategy internally and formed strategic alliance with partners in the related vertical areas. As we enter into 2016, we will embrace opportunities as well as challenges ahead of us. Other than our persistent efforts in generating and monetization of mobile traffic, we will continue to focus on what SINA does the best and invest in opportunities to solidify our core business, scale up our customer base and enable more vertical transactions on our platform.” Mr. Chao added.

　　Fourth Quarter 2015 Financial Results

　　For the fourth quarter of 2015, SINA reported net revenues of $256.2 million, compared to $211.1 million for the same period last year. Non-GAAP net revenues for the fourth quarter of 2015 totaled $253.6 million, compared to $208.5 million for the same period last year.

　　Online advertising revenues for the fourth quarter of 2015 were $223.2 million, compared to $181.9 million for the same period last year. The year-over-year growth in online advertising revenues resulted from an increase of $41.6 million in Weibo advertising revenues. Portal advertising revenues remained flat compared with the same period last year.

　　Non-advertising revenues for the fourth quarter of 2015 were $33.0 million. Non-GAAP non-advertising revenues for the fourth quarter of 2015 were $30.4 million, compared to $26.6 million for the same period last year. The year-over-year growth in non-GAAP non-advertising revenues was mainly due to an increase of $2.3 million in Weibo value added services revenues and an increase of $1.5 million in portal non-advertising revenues.

　　Gross margin for the fourth quarter of 2015 was 65%. Non-GAAP gross margin for the fourth quarter of 2015 was 65%, at similar level for the same period last year. Advertising gross margin for the fourth quarter of 2015 was 65%, at similar level for the same period last year. Non-advertising gross margin for the fourth quarter of 2015 was 66%.

　　Operating expenses for the fourth quarter of 2015 totaled $137.5 million, compared to $132.9 million for the same period last year. Non-GAAP operating expenses for the fourth quarter of 2015 totaled $125.0 million, compared to $123.3 million for the same period last year.

　　Income from operations for the fourth quarter of 2015 was $29.6 million, compared to $3.9 million for the same period last year. Non-GAAP income from operations for the fourth quarter of 2015 was $40.7 million, compared to $11.7 million for the same period last year. The significant improvement in income from operations attributes primarily to the operational leverage achieved by Weibo.

　　Non-operating loss for the fourth quarter of 2015 was $2.1 million, compared to a non-operating income of $64.1 million for the same period last year. Non-operating loss for the fourth quarter 2015 mainly included (i) a $4.3 million interest and other income; and (ii) a $6.7 million other-than-temporary impairment of certain investments, which is excluded under non-GAAP measure. Non-operating income for the fourth quarter of 2014 mainly included a $49.2 million gain as a result of the initial public offering of Tian Ge and a $7.8 million dividend from an investee, which were excluded under non-GAAP measure.

　　Net income attributable to SINA for the fourth quarter of 2015 was $14.6 million, compared to $59.8 million for the same period last year. Diluted net income per share attributable to SINA for the fourth quarter of 2015 was $0.21, compared to $0.90 for the same period last year. Non-GAAP net income attributable to SINA for the fourth quarter of 2015 was $24.8 million, compared to $15.9 million for the same period last year. Non-GAAP diluted net income per share attributable to SINA for the fourth quarter of 2015 was $0.35, compared to $0.24 for the same period last year.

　　As of December 31, 2015, SINA’s cash, cash equivalents and short-term investments totaled $2.4 billion, compared to $2.2 billion as of December 31, 2014. The increase in cash, cash equivalents, and short term investments was mainly due to $328.1 million cash generated from the operating activities and cash proceeds of $456.4 million from the issuance and sale of 11,000,000 shares to a special purpose vehicle controlled by Mr. Charles Chao, the Company’s Chairman and CEO in the fourth quarter of 2015, partially offset by investments made in 2015. For the fourth quarter of 2015, net cash provided by operating activities was $98.9 million, capital expenditures totaled $15.0 million, and depreciation and amortization expenses amounted to $7.7 million.

　　Fiscal Year 2015 Financial Results

　　For fiscal year 2015, SINA reported net revenues of $880.7 million, compared to $768.2 million in 2014. Non-GAAP net revenues for 2015 totaled $870.2 million, compared to $756.3 million in 2014.

　　Online advertising revenues in 2015 were $743.2 million, compared to $640.3 million in 2014. The year-over-year growth in online advertising revenues resulted from an increase of $137.6 million in Weibo advertising revenues, partially offset by a decline of $34.7 million of portal advertising revenues.

　　Non-advertising revenues in 2015 were $137.4 million. Non-GAAP non-advertising revenues in 2015 were $127.0 million, compared to $116.0 million in 2014.

　　Gross margin in 2015 was 62%. Non-GAAP gross margin in 2015 was 62%, at similar level in 2014. Advertising gross margin in 2015 was 62%. Non-advertising gross margin in 2015 was 60%.

　　Operating expenses in 2015 totaled $533.1 million, compared to $518.8 million in 2014. Non-GAAP operating expenses in 2015 totaled $478.6 million, compared to $471.7 million in 2014.

　　Income from operations in 2015 was $12.2 million, compared to a loss of $40.9 million in 2014. Non-GAAP income from operations in 2015 was $61.5 million, compared to a loss of $2.5 million in 2014. The significant improvement in income from operations was mainly driven by the operation leverage achieved by Weibo.

　　Non-operating income in 2015 was $33.9 million, compared to a non-operating income of $209.7 million in 2014. Non-operating income in 2015 mainly included (i) a $22.4 million interest and other income; and (ii) an $11.3 million net gain on sale of and impairment on investments, which is excluded under non-GAAP measure. Non-operating income in 2014 mainly included (i) a $109.2 million gain from the sale of a portion the Company's investment in Alibaba, (ii) a $49.2 million gain as a result of the initial public offering of Tian Ge; (iii) a deemed dilution gain of $29.1 million from Tencent’s acquisition of a 15% equity interest in Leju; and (iv) a $19.2 million gain as a result of the initial public offering of Leju. These gains totaled $206.7 million were excluded under non-GAAP measure.

　　Net income attributable to SINA in 2015 was $25.7 million, compared to $176.8 million in 2014. Diluted net income per share attributable to SINA in 2015 was $0.40, compared to $2.63 in 2014. Non-GAAP net income attributable to SINA in 2015 was $56.2 million, compared to $52.3 million in 2014. Non-GAAP diluted net income per share attributable to SINA in 2015 was $0.89, compared to $0.76 for 2014.

　　Business Outlook

　　For the year 2016, SINA estimates that its non-GAAP net revenues are between $850 million and $950 million, which assumes that RMB depreciates to US dollar at an average rate of 8.5% in 2016 and excludes the recognition of $10.4 million in deferred license revenues from E-House. This forecast reflects SINA’s current and preliminary view, which is subject to change.

　　Share Repurchase Plan

　　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 US$500 million for a period through the end of June 2017. 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.

　　Non-GAAP Measures

　　This release contains the following non-GAAP financial measures: non-GAAP net revenues, non-GAAP non-advertising revenues, non-GAAP non-advertising gross margin, non-GAAP operating expenses, non-GAAP income (loss) from operations, non-GAAP net income attributable to SINA and non-GAAP diluted net income per share attributable to SINA. 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 in relation to the equity investment in E-House, stock-based compensation, amortization of intangible assets net of tax, adjustment for non-GAAP to GAAP reconciling items on the share of equity method investments, gain/loss on sale of investment, deemed disposal and impairment on investment, impairment on goodwill, change in fair value of investor option liability, adjustment for non-GAAP to GAAP reconciling items for the gain/loss 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 9:10 p.m. – 9:50 p.m. Eastern Time on March 2, 2016 (or 10:10 a.m. – 10:50 a.m. Beijing Time on March 3, 2016) 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 corp.sina.com.cn. 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:55704801

　　A replay of the conference call will be available through morning Eastern Time March 11, 2016. The dial-in number is +61 2 9003 4211. The passcode for the replay is 55704801.

　　About SINA

　　We are an online media company serving China and the global Chinese communities. Our 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 desktop 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. Our mobile portal, SINA.cn, provides news information and entertainment content from SINA.com customized for mobile users in WAP (mobile browser) and mobile application format. Weibo is a leading social media platform for people to create, distribute and discover Chinese-language content. Based on an open platform architecture, Weibo allows users to create and post feeds and attach multi-media content, as well as access a wide range of organically and third-party developed applications, such as online games.

　　Through these properties and other product lines, we offer an array of online media and social media services to our 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 the “Business Outlook” section and 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 SINA’s limited operating history in certain new businesses; 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 MVAS products; failure to enter and develop the small and medium enterprise market by the Company or through cooperation with other parties, such as Alibaba; the Company’s reliance on mobile operators in China to provide MVAS and changes in mobile operators' policies for MVAS in China; failure to successfully integrate acquired businesses; risks associated with the Company’s investments, including equity pick-up and impairment; changes in the macro-economic environment, including the depreciation of the Renminbi; and failure to compete successfully against new entrants and established industry competitors. Further information regarding these and other risks is included in SINA’s annual report on Form 20-F for the year ended December 31, 2014 and other filings with the Securities and Exchange Commission.

　　Contact:

　　Investor Relations

　　SINA Corporation

　　Phone: 8610-5898 3336

　　Email: ir@staff.sina.com.cn