Weibo net revenues increased by 24% YoY to $119.3 million in Q1 2016, most of which came from advertising and marketing revenue (up 25% YoY to $99.2 million) with total advertisers reaching 832,000.
Weibo’s non-GAAP net income attributable to Weibo increased by 491% YoY to $16.4 million, and non-GAAP diluted net income per share increased 483% year over year to $0.07.
Monthly active users of Weibo in March 2016 grew by 32% year over year to 261 million, 85% of which were mobile users.
Weibo’s average daily active users (“DAUs”) in March 2016 grew by 35% YoY to 120 million. Weibo’s mobile DAUs grew by 45% YoY and reached 91% of total DAUs, highlighting Weibo’s traffic momentum arising from high mobile usage and penetration beyond tier 1 cities.
For the second quarter of 2016, Weibo estimates that its net revenues to be between $138 million and $143 million. Sina Weibo announced to launch video advertising last December in the first half of 2016 as it seeks new revenue sources to maintain robust growth. Weibo now has daily video views of over 470 million.
Stephen Hawking launched his verified Weibo account and won 1 million fans in merely five hours.