Sina Weibo reports rising Q2 revenue
Xinhua, August 9, 2016 Adjust font size:
Chinese social media giant Sina Weibo reported rising revenues in the second quarter of 2016 due to strong advertising, marketing and user growth.
The Twitter-like service beat market expectations by raking in a net revenue of 146.9 million U.S. dollars in Q2, up 36 percent year on year, according to a financial performance statement released by Weibo Corporation Tuesday.
Advertising and marketing were the major revenue contributors, increasing 45 percent year on year to 127.2 million U.S. dollars in Q2.
"Weibo is benefiting from the strong adoption of social marketing with key account and small-and-medium-sized enterprise revenues growing 73 percent and 107 percent year on year respectively in Q2," said Wang Gaofei, Weibo's CEO.
User growth continues to be robust. Monthly active users in June 2016 grew 33 percent year on year to 282 million, 89 percent of which were from mobile users, where Sina Weibo has seen video become increasingly popular.
Average daily active users in June 2016 grew 36 percent year on year to 126 million.
Weibo estimated that its net revenue in Q3 will be between 168 million and 173 million U.S. dollars, according to the statement. Endi