Weibo’s profit surges
Print Edition
SINA.COM’S Twitter-like microblogging service Weibo said profit rose more than four times to US$16.4 million in the first quarter from US$2.8 million in the same period a year earlier as advertising income boomed.
Revenue surged to US$119.3 million in the three months ended on March 31 as advertising and marketing income rose, with value-added services up 17 percent to US$20 million.
The firm projects revenue in the second quarter of this year at between US$138 million and US$143 million, above Reuters’ estimate of US$135.6 million.
In March, there were 261 million monthly active users, up 10.6 percent from December and 32 percent from a year earlier. Around 85 percent of users accessed the service through mobile devices, according to the firm.
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