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Sina Corp second quarter revenue up 19 percent on Weibo messaging unit, ad sales

15
Aug
2014

(Reuters) – Chinese internet firm Sina Corp posted better-than-expected growth in both revenue and earnings on Thursday, riding a strong performance from its Weibo Corp online messaging subsidiary and a 29 percent jump in advertising sales. “Weibo is executing well with strong financial performance, solid traffic growth and measurable progress toward building out a social commerce platform and offering native ads to large-brand customers,” Sina CEO Charles Chao said in a statement. Weibo, the company behind what’s often described as China’s Twitter, more than doubled its revenue in the second quarter, as usage and traffic grew.

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