Weibo profits from 45% lift in ad income
Print Edition
CHINESE microbloging site Weibo said revenue in the second quarter surged 36 percent to US$146.9 million driven by a 45-percent jump in advertising and marketing income.
Its profit more than tripled from a year ago to US$35.5 million, said the company’s earnings release yesterday.
Weibo, majority owned by online news portal Sina, said its monthly active user base grew 30 percent to 282 million, with 89 percent of them accessing its platform through mobile devices.
For the current quarter, Weibo projects revenue between US$168 million and US$173 million, against analysts’ projection of US$164.5 million.
Weibo has been optimizing viewers’ experience of short videos and live streaming services and promoting its self-service online ad platform for small and medium-sized advertisers.
Wang Gaofei, CEO of Weibo, said it aims to become one of the largest platforms for viewing and distributing short video clips after average viewership in the second quarter more than tripled from the quarter before.
“Weibo has a strong platform value for a diversified customer base with notable growth in advertising revenue from key accounts and small and medium firms,” said Charles Chao, chairman and CEO of Sina.
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