China portal ad revenue rises

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Chinese portal says adver-isng revenue rose 7 percent in the quarter ending Dec. 31, compared with the previous quarter, an increase of 218 percent from the same period in 1999. Advertising revenues for past quarter amounted to $6.7 million out of consolidated net revenue of $7.6 million. The results are "ahead of street expectations for the fourth consecutive quarter since our IPO. In the past quarter, we have con-inued to increase our bricks-and-mortar advertis-ng base, serving as the gateway to the China In-ernet marketplace for new clients such as John-on & Johnson and Hewlett Packard," says Presi-ent-CEO Zhidong Wang in Beijing.

Copyright January 2001, Crain Communications Inc.

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