Weibo posts strong Q2 financial performance

Xinhua Published: 2017-08-09 22:33:57
Share this with Close
Messenger Messenger Pinterest LinkedIn

Chinese social media giant Sina Weibo reported strong financial performance in the second quarter (Q2) of this year thanks to booming advertising and marketing demand.

The tech firm raked in net revenue of about 253.4 million U.S. dollars, up 72% year on year, according to its unaudited financial results released Wednesday.

Net income attributable to Weibo reached 73.5 million U.S. dollars, an increase of 184% year on year.

Advertising and marketing services remained the major source of income, bringing in 218.3 million U.S. dollars in Q2, a 72% surge over Q2 of 2016.

Weibo boasted about 361 million monthly active users as of the end of June, up 28% year on year, with 92% of them coming from mobile devices.

"These strong results give us confidence that our strategy to focus on developing a unique and expansive content ecosystem, launching engaging features like Weibo Stories, and attracting KOLs (key opinion leaders), celebrities and other influencers to increase the social and viral nature of Weibo is boding well for us," said Weibo CEO Wang Gaofei.

Weibo estimated its net revenue will be between 290 and 300 million U.S. dollars for the third quarter of 2017.

Share this story on

Most Popular

Related stories


Beijing's first roof top charging station activated
China's largest-ever Avanti theme exhibition in Shanghai
The strongest two fingers in China?
Rescuers work through night to save quake victims
Scene after the latest quake to hit SW China
13 killed in China 7.0-magnitude quake


Military rescue operations underway after deadly Sichuan quake
Japan's defense paper lying about China: spokesperson
Survey says Chinese are the world's most optimistic citizens
Chinese bike-sharing company ofo enters Japan
China's consumer inflation muted, economy solid
Dubai to test run world's first automated flying taxis by year end