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Marketing, ad income lifts Weibo Q3 profit
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SINA Corp’s twitter-like social networking site Weibo.com yesterday reported profit in the third quarter was US$22.1 million, driven by a 62 percent jump in advertising and marketing income.
Its revenue surged 48 percent from a year ago to US$124.7 million, according to a stock exchange filing.
Advertising and marketing revenue for the third quarter of this year soared 62 percent to US$105.9 million from US$65.4 million in the same period of last year, with mobile advertising taking up 64 percent.
Weibo said advertising income from advertisers other than Alibaba merchants more than doubled from the same period a year ago and there were nearly half a million advertisers at the end of September.
Alibaba holds a 31.4 percent stake in Weibo, and has been encouraging merchants on its retail sites Tmall and Taobao to put advertising links on Weibo to attract potential buyers.
Weibo expects fourth-quarter revenue to be between US$146 million and US$149 million.
Weibo’s monthly active users reached 222 million at the end of September, up 33 percent year on year.
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