Sina's microblogging platform said third-quarter profits jumped 63 percent to US $ 165 million, thanks to thriving advertising income and new social formats such as live media.
The revenue in the three months that ended in September was 44 per cent to $ 460.2 million, with advertising and marketing revenue climbing 48 per cent a year earlier than US $ 409.3 million.
Value added services brought at US $ 50.9 million, which is still a relatively small contribution to the general income.
Weibo has also acquired Live Live Broadcasting, a live service provider to strengthen its content that integrates and enhances consumer engagement, but the agreement would mean a relatively short contribution of revenue in the short term as product integration takes one or two quarters.
"We will continue to focus on maximizing user experience for consumers and to include the unique advantages of Weibo in the creation, use and consumer interaction of consumers, which will help to improve the potential of Weibo's monetization in the long term," said Wang Gaofei, Chief Executive of Weibo.
It is estimated that net revenue is between US $ 480 million and $ 490 million in the fourth quarter, which represents around 35 per cent to 38% of annual growth.
BOCOM International wrote in a research note today that revenue growth is generally in line with expectations, but future growth is likely to fall under pressure with budget cuts in large consumer sectors to large tickets due to uncertainty over the macroeconomic situation.
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