No notable revenue from Weibo
By Ding Yining |
August 17, 2012, Friday
|
Print Edition
Print Edition
SINA Corp, operator of the Chinese mainland's most popular microblogging service Weibo.com, does not expect significant income from the social media site, although advertising from the site has started to pay off.
The advertising income from Weibo totaled about US$10 million in the second quarter, Sina CEO Charles Chao told a conference call with analysts after the earnings release.
"We don't expect to generate significant operating profit in the second half of this year as we continue to invest in our Weibo platform," he said.
Sina said earlier this year that it would invest about US$160 million in Weibo, including marketing expenses and spending on technology upgrade.
Sina's revenue in the three months ended June 30 increased 10.7 percent to US$131.6 million, up from US$118.96 million in the same period a year ago.
The advertising income from Weibo totaled about US$10 million in the second quarter, Sina CEO Charles Chao told a conference call with analysts after the earnings release.
"We don't expect to generate significant operating profit in the second half of this year as we continue to invest in our Weibo platform," he said.
Sina said earlier this year that it would invest about US$160 million in Weibo, including marketing expenses and spending on technology upgrade.
Sina's revenue in the three months ended June 30 increased 10.7 percent to US$131.6 million, up from US$118.96 million in the same period a year ago.
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