Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Trending in China: Mission Impossible? Young Environmental Hero Tries To Clean Up Tibet
Chinese Online Travel Agency Sees Revenue Plummet As Covid-19 Fallout Lingers
Chinese Supply Chain Provider Xingyun Closes $200m in a Series C Round
Chinese EV Charging Operator Star Charge Nabs $125m Co-Led by Schneider, CICC
Trending in China: One of China’s Weirder Poverty Alleviation Programs Goes Viral with 100m Plus Views
Chinese Carmaker Geely Signs Driver-Assistance System Deal with Mobileye
Chinese Genomics Company BGI to Provide Ethiopia with Coronavirus Testing Kits Made at African Plant
Trending in China: Autumn Milk Tea – Cynical Marketing Strategy or True Friendship?
IFC Mulls $80m Loan to Chinese Pig Rearing Firm Guangxi Yangxiang
Short Video Firm Kuaishou Optimizes Its E-Commerce By Connecting Livestreamers With Quality Products
Segway Owner Set to Make History With Shanghai IPO
BMW’s Use of High-Density Batteries Raises Safety Concerns
ByteDance Applies for Chinese Tech Export License as TikTok Negotiations Continue
Trending in China: Macau Eases Travel Restrictions but Will Covid-19 Tests Kill People’s Travel Bug?
Alibaba Subsidiary Cainiao Pushes Into Malaysia With Cross-Border Delivery Service
Trending in China: School Throws Away Students’ Food Deliveries To Force Use of Canteen
Chinese Electric Carmaker Li Auto Teams Up With U.S. Chipmaker Nvidia Recycling Operator Wanwu Xinsheng Nets Over $100m
HSBC Shares Fall to Lowest Since 2009 As Investors Fret About Financial Crimes Report
Huawei Cuts R&D Investment and Jobs in Australia Amid Tech War
Weibo Reports 11.5% Drop in Third-Quarter Profit

By Han Wei / Nov 14, 2019 06:52 PM / Business & Tech

Photo: VCG

Photo: VCG

Social media company Weibo Corp. posted weaker-than-expected results for the third quarter as its net profit fell 11.5% from a year ago.

The Twitter-like microblogging site operator said Thursday that its net income was $146.2 million, compared with $165.3 million for the same period last year. It is the second straight quarterly profit drop for the company. Diluted net income per share was $0.64, compared with $0.73 a year ago.

Weibo’s total net revenue was $467.8 million during the period, an increase of 2% from the same period last year but missing Wall Street’s estimate of $471.8, according to its unaudited financial report.

Advertising and marketing revenues rose 1% year-over-year to $412.5 million, while income from value-added services grew 9% to $55.3 million, said Weibo, which is majority owned by internet portal provider Sina Corp.

The platform’s monthly active users totaled 497 million in September, a net addition of about 51 million from a year earlier. About 94% of its users were on mobile.

Weibo forecast a 0% to 3% increase in net revenue for the fourth quarter.

Its Nasdaq-traded shares were down more than 8% during pre-market trading Thursday.

Contact reporter Han Wei (

Share this article
Open WeChat and scan the QR code