Sina Corp has surprised investors by announcing it made a loss in the second quarter.
The company, which is behind China's biggest micro-blogging site, revealed in a statement that it made a loss of $11.5 million (£7.4 million) compared to a profit of $33.2 million a year earlier.
With analysts having predicted that there would be a net profit for the firm, this proved to be a bad piece of news for the company.
Charles Chao, chairman and chief executive of Sina, insisted that the organisation remains in a good position for more profitable revenue growth while making heavy investments for the future".
Sina's micro-blogging service has more than 500 million users, but the company is facing growing competition from rival Tencent, which recently launched a massively popular mobile messaging service called WeChat.
Despite the surprise loss posted by Sina Corp, its share price remains well above the one-year target for the firm.
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