Alliances with smartphone makers aid Weibo’s ad sales
Weibo reported a narrower second-quarter loss as alliances with smartphone manufacturers boosted users, helping the Chinese microblogging service controlled by Sina win more advertising sales.The net loss was $15.4 million in the three months ended June 30 from a loss of $35.1 million a year earlier, the Beijing-based company said in a statement yesterday. Sales more than doubled to $77.3 million, higher than Weibo’s forecast in May of sales of $74 million to $76 million.
Weibo said the number of daily active users increased 32 percent in the period from a year earlier. CEO Wang Gaofei is investing in marketing, product development and using partnerships to win users amid competition from Tencent Holdings’s WeChat messaging application. Bloomberg
with the Korea JoongAng Daily
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