Related News
Weibo more profitable in Q1 due to advertising
Online Edition
Sina’s Twitter-like microblogging service Weibo said its profit added more than four times to US$16.4 million in the first quarter compared with that of US$2.8 million a year earlier thanks to booming advertising income.
Revenue surged to US$119.3 million in the three months ended March 31 as a result of increasing advertising and marketing revenue, with value-added service rose 17 percent to US$20 million, it said in a stock exchange filing today.
Weibo’s monthly active users totaled 261 million by March, up 10.6 percent from December and up 32 percent from a year earlier. Around 85 percent of users accessed the service through mobile devices, it said.
Investment and research advisory TH Capital put a “buy” rating on the stock prior to the earnings release and set a target price of US$25.
Weibo shares closed at US$23.08 on Wednesday, and were up more than 3.5 percent in after-hours trading on NASDAQ.
Daily active users averaged 120 million in March, up 13% from December and 35% from the year earlier.
In the second quarter, it projects revenue of between US$138 million and US$143 million.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
