Weibo sees native advertising and marketing revenues leap 99% in Q2
Weibo Corp, the Chinese micro-blogging site, has reported that its revenue has more than doubled from $37.6m to $77.3m during Q2.
As the company revealed its second quarter figures, it put the dramatic rise down to an increase in advertising and marketing revenue, which increased 99 per cent to $59.6m during the period.
“In May 2014, we launched our native ad products to brand advertising customers and began to implement our payment solutions to drive social commerce on Weibo. With these initiatives we are laying solid groundwork for our future growth," said Gaofei Wang, Weibo's CEO.
"At the same time growing user scale and activities remains our top priority. During the second quarter, we built new product experiences that integrate Weibo with TV shows and other live events. We believe the innovation will ultimately create great value for TV stations, brand advertisers as well as Weibo through greater engagements and live reach among TV audience. Going forward, we will continue to focus on enhancing user experience through product innovation."
Net loss attributable to shareholders narrowed to $15.4m (eight cents a share).