Weibo posts firm results

Updated 2017-02-24 09:32:38 Shanghai Daily

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 2.7 million while profit came to 34 U.S. cents per share, beating Reuters' estimate of 28 U.S. 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.

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