Weibo posts firm results

Source: Xinhua | 2017-02-24

CHINA’S microblogging site Weibo reported better-than-expected profit and revenue in the fourth quarter of last year as it benefited from strong advertising and marketing demand.

Net revenue surged 43 percent to US$212.7 million while profit came to 34 US cents per share, beating Reuters’ estimate of 28 US cents per share.

The company’s advertising and marketing revenue jumped 42 percent from a year ago while monthly active users in December rose 33 percent from a year earlier to 313 million, with 90 percent using mobile devices.