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SINA’S microblogging site Weibo said yesterday that profit in the fourth quarter more than tripled to US$32.9 million.
Nasdaq-listed Weibo said revenue jumped 42 percent to US$149 million with income from Weibo’s advertising and marketing sales rising 47 percent to US$129.5 million as more advertisers targeted social networking sites for online campaigns, according to a stock exchange filing.
Herman Yu, chief financial officer of Weibo, said the majority of its advertisers in the fourth quarter were small and medium-sized e-commerce vendors, online service providers as well as software developers and Internet finance companies.Revenue from value-added services more than quadrupled to US$19.1 million.
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