Top Tech: Weibo Profits Up 63.5% As User Numbers Surge

Weibo Corp., China’s answer to Twitter, is quickly outpacing its American peer after Weibo reported a surge in net profits Wednesday of 63.5% year-on-year to $165.3 million for the third quarter. The leap came on the back of advertising and marketing gains and strong user growth.

Revenue jumped 43.8% to $460.2 million.

Weibo saw a sharp increase in monthly active users to 445.9 million in September, up 70 million from one year before — way ahead of Twitter’s 326 million monthly active users for the third quarter, as the U.S. social media behemoth strains to keep people on the platform.

The following is an updated table of the earnings for Chinese technology companies between July and September.

Contact reporter Tang Ziyi (ziyitang@caixin.com)