Sina sees staggering 430% rise in profit for 2017
The Internet giant posted a net revenue of US$1.58 billion in 2017, which is a rise of 54% from a year earlier. The figure exceeds the firm's annual forecast of US$1.3 to 1.44 billion.
The first publicly listed Chinese social media company on the Nasdaq Stock Market, it recorded a net profit attributable of US$156.6 million, while the net profit per diluted share was US$2.09.Can Guowei, chairman and CEO of Sina, said that Sina Weibo has maintained its growth momentum, driven by the continuous increase in subscribers and ongoing development in machine learning, content distribution efficiency and advertising system upgrades.
In the future, Sina will continue to extend its subscriber base, strengthen its content ecosystem and increase the budget for social media marketing.Must-reads from across Asia - directly to your inbox Comments
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment