Higher ad income lifts Weibo revenue
Print Edition
SINA’S microblogging service Weibo said yesterday that revenue jumped 47 percent from a year ago in the fourth quarter to US$105.2 million as advertising income, especially on mobile devices, increased.
Non-GAPP (Generally Accepted Accounting Principles) profit more than doubled from a year ago to US$9.4 million after advertising sales jumped 57 percent in the fourth quarter while value-added service income grew 12 percent, the company said in a stock exchange filing yesterday.
Last year, Weibo’s total advertising revenue jumped 78 percent to US$264.8 million.
“Mobile advertising revenue made up 54 percent of Weibo’s total sales income, and the company is also working on a more efficient advertising model that is more suitable for smartphone systems,” Weibo Chief Executive Officer Wang Gaofei said during a conference call after the earnings release.
The number of advertisers on Weibo nearly doubled from three months ago to about 300,000 merchants, Wang added, noting that the number of both customers and revenues have grown quickly.
Weibo estimates revenue at between US$93 million and US$96 million in the first quarter of this year.
New York-listed Weibo allows Alibaba’s online retail vendors to pay for value-added services after it introduced the e-commerce giant as a shareholder in 2013. The two companies also share payment systems to boost usage and revenue.
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