Sina Weibo to make its first profit

Summary: View the latest quotes Sina today released the fourth quarter of 2013 and the full year earnings. Mr. Chao, Sina's chairman and CEO, revealed that in the fourth quarter of last year Weibo achieved 3 million dollars in operating profits, the first profit for Weibo. Another

View the latest quotes

Sina today released its fourth quarter and full-year earnings for 2013. Mr. Chao, Sina's chairman and CEO, revealed that in the fourth quarter of last year Weibo achieved 3 million dollars in operating profits, the first profit for Weibo. Another source said Sina Weibo will be listed on the NYSE in the second quarter.

According to earnings data, in the fourth quarter of last year, micro-blog revenue reached 71.4 million U.S. dollars, including advertising revenue of 56 million U.S. dollars, an increase of 163%, the advertising revenue of 15.4 million U.S. dollars, a year-on-year increase of 114%.

Thanks to the growth of micro-blogging business, the fourth quarter of last year, Sina revenue of 197 million U.S. dollars, an increase of 42%, 2013 year Sina net revenue of 665.1 million U.S. dollars, year-on-year growth of 26%, should account for the net profit of 45.1 million U.S. dollars.

Sina senior has previously revealed that the microblogging listing will be profitable after the premise has now been achieved. The Financial Times reported 24th that Sina has hired Goldman Sachs and Credit Suisse to prepare for the listing of its microblog business and plans to raise about $500 million trillion in funds. Last year, when Twitter went public, it publicly raised $1 billion trillion, now worth more than $30 billion trillion.