BRIEF: Olympics provides lift to Weibo’s profit

9898.HK WB.US

Social media platform Weibo Corp. (WB.US; 9898.HK) announced on Tuesday its revenue rose 5% to $464.5 million year-on-year in third-quarter. It credited the growth to strong ad revenues from certain key sectors, driven by demand during the Paris Summer Olympics. The company’s net profit for the period increased by 68.5% year-on-year to $130 million.

Weibo’s advertising and marketing revenue reached $398.6 million during the quarter, up 2% year-on-year. Its value-added services revenue totaled $65.9 million, up 25%. In terms of operational data, its number of monthly active users (MAUs) in September was 587 million, compared to 583 million in June this year; and its number of daily active users (DAUs) in September was 257 million, compared to 256 million in June.

Weibo’s stock rose 6.3% to $9.05 in New York on Tuesday after the release of the earnings.

By Lee Shih Ta

To subscribe to Bamboo Works free weekly newsletter, click here

,
, ,

Related Articles

RELATED ARTICLES

  1. Weibo is a social media app
    Stagnating Weibo at existential moment
    9898.HK WB.US
  2. Yalla revenue growth returns to double-digits ahead of new gaming push
    YALA.US
  3. Hello Group takes its matchmaking skills beyond China
    MOMO.US
  4. Newborn Town reports blowout business, but investors fail to move in
    9911.HK
  5. Yalla holds out 2025 as its ‘Year of the Game’ as growth picks up
    YALA.US
  6. After 14 years of losses, Zhihu finds an answer to its profitability question
    2390.HK ZH.US
  7. EHang finds more lift in its long flight to profits
    EH.US
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Illustration of the rebound of Chinese fintech lenders

A fintech lender rebound, and a hotel mess

Fintech lenders are entering a new golden era, with Jiayin reporting 46% growth for its core consumer lending business in last year's fourth quarter and forecasting similar gains this year. What's driving this rebound? And hotelier H World is still trying to fix a German acquisition from 2019 that wiped out its profit in the fourth quarter of last year. Will the Chinese hotelier be able to turn around this money-losing offshore asset?
JFIN.US HTHT.US