Your microblogging platform said revenue rose 63 percent to $ 165 million in the third quarter due to the fast-growing revenues from advertising and new social formats, such as live broadcast.
Revenues for the three months ended September increased by 44% to $ 460.2 million, while advertising and marketing revenue grew by 48% year-on-year to $ 409.3 million.
Added value services generated $ 50.9 million, which, however, is a relatively small source of total income.
Weibo has acquired live streaming services provider YI Live Broadcasting in order to strengthen its content and encourage user engagement, but the deal would mean a relatively small share of revenue in the short term as the product integration will be one to two quarters.
"We will continue to focus on optimizing product experience and Weibo's unique strengths in content creation, consumption and user social interaction, which will help improve the long-term potential of Weibo's monetization," Wang Gaoei, executive director of Weibo, commented.
This suggests that in the fourth quarter, net revenues range from $ 480 million to $ 490 million, an increase of about 35% to 38% per year.
Today, BOCOM International wrote that revenue growth is generally in line with expectations, but further growth is likely to be subject to pressure as the macroeconomic situation in the budget is causing uncertainty in the large consumer sector.
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