Sina Weibo rosy in Q1

Source: Xinhua | 2017-05-17

CHINESE social media giant Sina Weibo posted strong financial results in the first quarter of this year amid booming advertising and marketing demand. 

The firm raked in net revenue of US$199.2 million, up 67 percent year on year, according to its financial statement released yesterday. Net income attributable to Weibo reached US$46.9 million, an increase of 561 percent year on year. Advertising and marketing services remained the major source of income, bringing in US$169.3 million in the first three months, a 71 percent surge year on year. Weibo estimated its net revenue will be US$240-250 million in the second quarter of 2017.