Sina Weibo reports surging Q3 revenue

Updated 2017-11-08 16:02:58 Xinhua

Chinese social media giant Sina Weibo reported expectation-beating revenue growth in the third quarter (Q3) of 2017 due to strong advertising, marketing and user growth.

The Twitter-like service raked in net revenue of 320 million U.S.dollars, surging 81 percent year on year, according to the company's unaudited financial report released Tuesday.

Advertising and marketing remained the major revenue contributors, increasing 77 percent year on year to 276.8 million U.S. dollars in Q3.

Wang Gaofei, CEO of Weibo, attributed the company's robust top and bottom line Q3 growth to breakthroughs in expanding its advertising customer base, improving advertising system efficiency as well as developing innovative marketing solutions.

User growth continues to be healthy. Monthly active users increased by about 79 million users year on year to reach 376 million in September, with 92 percent of them mobile users.

Weibo estimated that its net revenue in Q4 will be between 355 million and 365 million U.S. dollars, according to the statement.

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