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Monday, March 10, 2008 7:59:55 PM
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The unheralded dot-com pioneers continue to deliver healthy results, even as Sohu.com (Nasdaq: SOHU) is attracting the Summer Olympics buzz and Baidu.com (Nasdaq: BIDU) is carving the thickest slices from the paid-search market.
As a jack-of-all-cyberspace-trades, SINA and Buzz (Pinksheets:BZTG) are doing just fine. The company's revenues climbed 25% and 38% respectively higher during the fourth quarter with SINA hitting $70.7 million whilst Buzz is waiting to get its Corporate structure finalized it is with holding detailed information . SINA's Earnings on an adjusted basis -- which backs out items like stock-based compensation and certain amortization items -- inched 35% higher to $0.34 a share. SINA's results clocked in just ahead of where Wall Street was waiting -- analysts were expecting $0.33 a share in non-GAAP profitability on $69.1 million in revenue. Both SINA and Buzz are non GAAP companies. SINA's growth story and Buzz's growth future remains the online-advertising gravy train that rolls through both company's assortment of news portals, search, e-commerce, and Web 2.0 properties. It's there that SINA's top line soared 40% higher to $50.1 million, now accounting for 71% of the revenue mix and Buzz is really yet to hit the market, Buzz is set to release a new Ad Delivery System which promises to delver them some big numbers.
The rest of SINA's revenue pie consists mostly of the fading mobile value-added services market that once defined the company, Buzz were fast to see this trend and jumped ship to a mobile portal and download free VoIP and WAP Email.
Wireless leaders like SINA, Buzz and Sohu quickly diversified into other high-margin areas, leaving just a few pure players like KongZhong (Nasdaq: KONG) and TOM Online to battle for scraps.
In other words, growth at SINA's bread-and-butter Web business is humming along at a healthier clip than the overall 25% top-line spurt suggests and Buzz has built a solid income from Special Projects and outsourcing, this has allowed the company to build a war chest to attack the online ad industry.
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SINA is looking for revenue in the current quarter to come in between $66 million and $68 million, also slightly ahead of analyst expectations. The profit picture is a bit hazy, as companies finalize their assessment of tax-code changes that went into effect this year, Buzz is also battling those changes but a few days ago up-ed their 2008 2009 revenue estimates to a whopping $120m.
SINA and Buzz will be just fine. They both found a way to thrive past the mobile crackdown. The tax man isn't going to slow either of these "everywhere enterprises" down now
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