Sina Weibo turns loss into net earnings in Q2
Print Edition
NEWS portal Sina’s microblogging site Weibo.com yesterday reported US$4.2 million in net earnings in the second quarter of this year, reversing from a net loss of US$15.5 million a year earlier.
Higher advertising income lifted revenue in the three months ended on June 30 by 39 percent to US$107.8 million, beating Bloomberg News’ estimate of US$104.8 million, according to a stock exchange filing yesterday.
Its advertising income jumped 47 percent from a year ago to US$87.9 million and revenue from mobile channels made up 62 percent of overall advertising income.
The company forecast revenue ranging from US$120 million to US$123 million in the third quarter.
The number of monthly active users of Weibo jumped 36 percent to 212 million at the end of June, as Weibo has been partnering with television programs and movies to encourage user activity. Users from smart devices contributed as high as 85 percent of the overall active user base.
“Strong growth of our active users was due to increased penetration in lower-tier cities and our partnership with TV programs and movies,” Weibo CEO Wang Gaofei said.
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