Weibo lifts net profit amid softer revenue slide in Q2

Monday 28 September 2020 | 12:06 CET | News
Chinese messaging group Weibo said revenues fell to USD 387.4 million in the second quarter in line with expectations, down 10 percent year-on-year and off 7 percent on a constant currency basis. The decline for advertising and marketing revenues softened to 8 percent, compared to the 19 percent drop in the first quarter, going to USD 340.6 percent. CEO Gaofei Wang said the brand advertising business started recovering a bit, especially in China where the covid-19 crisi has larley been brought under control.

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Categories: Internet
Companies: Weibo
Countries: China
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