Sina Corp (SINA.O), China's largest Internet portal, reported a quarterly profit that exceeded expectations, but the company forecast first-quarter revenue largely below estimates and its shares fell sharply. Online advertising revenue rose 30 percent to $82.5 million in the fourth quarter as user traffic soared on interest in Sina's Twitter-like Weibo. The stock has risen 15 percent this year on buzz surrounding the potential money-making prowess of the service. At the end of the quarter, Sina had more than 100 million subscribers for Weibo, double that of four months ago. The company has said Weibo will start generating revenue in the first half of 2011 via the sale of virtual items and advertising space.
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