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Sina's microblogging platform said earnings in the third quarter jumped 63 percent to $ 165 million, thanks to booming advertising revenue and new social formats such as direct.
Revenues for the three-month period ended September rose 44% to $ 460.2 million, while advertising and marketing revenues increased 48% over the previous year to reach $ 409.3 million.
Value-added services yielded $ 50.9 million, which again represents a relatively small contribution to overall income.
Weibo has also bought out live streaming service provider YI Live Broadcasting to strengthen its content offering and increase user engagement, but the deal would mean a relatively small contribution to revenues in the near term, with product integration requiring one or two quarters.
"We will continue to focus on optimizing the user experience of products and presenting Weibo's unique advantages in terms of content creation, consumption and social interaction between users, which will help improve Weibo's long-term monetization potential, "said Wang Gaofei, Weibo's Managing Director.
According to his estimates, net sales would be between 480 and 490 million US dollars in the fourth quarter, an annual growth of 35% to 38%.
BOCOM International today wrote in a research note that revenue growth is generally in line with expectations, but that future growth is likely to be severely constrained by budget cuts in major consumer sectors. resulting from the uncertainty surrounding the macroeconomic situation.
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