Weibo’s Q3 profit rises to US$54.6m

Advanced Search

The story appears on

Page A8

November 23, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Weibo’s Q3 profit rises to US$54.6m

By Ding Yining | November 23, 2016, Wednesday |

Print Edition

CHINESE social networking site Weibo yesterday said profit in the third quarter rose 1.5 times year on year to US$54.6 million as the company reaped a 48 percent jump in advertising and marketing income.

Weibo also reported earnings of 24 US cents per share on revenue of US$176.9 million in the three months ended on September 30, beating analysts’ estimates for 17 cents per share earnings on revenue of US$173.4 million, its quarterly earnings report showed.

Weibo, whose second-largest shareholder is e-commerce giant Alibaba Group, has been boosting advertising income from online vendors as well as brand owners.

In the third quarter, ad revenue made up 88.6 percent of Weibo’s overall income.

“Weibo’s ad revenue from small and medium companies has doubled year on year ... for the third consecutive quarter,” said Weibo Chief Executive Officer Wang Gaofei.

The Twitter-like social networking service saw monthly active users grow 34 percent to 297 million in September.

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Weibo’s Q3 profit rises to US$54.6m

Email this to your friend