Weibo third-quarter net profit was $101 million

The micro-blogging company (NASDAQ: WB) today released its unaudited earnings for the third quarter of fiscal 2017, which ended Sept. 30. According to the U.S. general accounting standards (GAAP), the company’s net revenue for the third quarter was $320 million, up 80.9 percent from a year earlier. Net profit attributable to weibo was $101.1 million, up 215% from a year earlier. Meanwhile, weibo announced that it would issue $700 million in bonds.

Third quarter performance points:

Total revenue was $320 million, compared with $176.9 million in the same period last year, up 80.9 percent year on year. Advertising and marketing revenue was $276.8 million and other revenue was $43.2 million. Advertising and marketing revenue from smes and key customers was $251.5 million. Advertising and marketing revenue from alibaba was $25.3 million.

Net profit attributable to weibo was $101.1 million, up 215% from $321,000 in the same period last year.

According to non-gaap, the net profit attributable to weibo was $115.2 million, compared with $540.6 million in the same period last year, up 111% year on year.

Adjusted earnings before interest, depreciation and amortisation (EBITDA) were $135.9 million, compared with $57.7 million in the same period last year, up 136% from a year earlier.

Weibo plans to report detailed third-quarter results in November 2017.

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