Weibo had a strong first quarter in 2007 with 67% YoY growth of revenues to $199.2 million; its monthly active users increased to 340 million.
Weibo’s net revenues totaled $199.2 million, an increase of 67% year-over-year, exceeding Weibo’s guidance between $185 million and $190 million.
Advertising and marketing revenues were $169.3 million, an increase of 71% YoY accounting for 85% of Weibo’s total net revenues in Q1 2017.
Net income attributable to Weibo was $46.9 million, an increase of 561% YoY, and diluted net income per share was $0.21, compared to $0.03 for the same period last year.
Weibo’s monthly active users grew from 313 million in Q4 2016 and reached 340 million in March 2017, an increase of 30% YoY or 8.6% QoQ, 91% of which were mobile users. The average daily active users in March 2017 was 154 million, an increase of 28% YoY.
Weibo recently starts testing a new feature called Weibo Stories, similar to Facebook Stories in the hope of capturing more short video market in China.