Date
21 October 2017

Sina Weibo makes first profit, WSJ says

Sina Corp., which is considering an initial public offering for China’s most popular microblogging service, said Weibo turned in an operating profit for the first time, the Wall Street Journal reported Tuesday. The Twitter-like platform raked in more than US$3 million in profits on advertising revenue of US$56 million in the fourth quarter, the company said. Weibo’s user numbers rose slightly to 61.4 million at the end of December, compared with about 60 million at the end of September, Sina chief executive Charles Chao was quoted as saying. Time spent on Weibo grew 16 percent in December 2013 from a year earlier. Chao, however, admitted that Weibo’s growth was declining, and the company would step up promotional activities and investment to boost the platform, the report said.

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SK/CG

 

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