May 15, 2008 09:56 Beijing Time
Sina Corp., China's biggest Web portal, posted an 87 percent increase in profit after luring more users with music, videos and a new database of information for buying and selling real estate. The shares rose 8.7 percent.
First-quarter net income rose to $16.1 million, or 27 cents a share, from $8.61 million, or 15 cents, a year earlier, the Shanghai-based company said today in a statement. Sales climbed 39 percent to $71.3 million. Six analysts estimated a median profit of $12 million, according to a Bloomberg survey.
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