The company told the China Daily that it has attracted about 80 advertisers in the second quarter,contributing 10 percent of its total revenues. Sina’s advertising revenue was $103.1 million, an increase of 12 percent year-on-year, and its net revenues increased by 11 percent year-on-year to $131.6 million.
Charles Chao, Sina’s CEO, said the company expects a better-than average performance in advertising revenues boosted by Olympic-related spending by clients.
“Weibo is poised to attract more new advertisers for us in the next quarter. About 80 percent of existing clients are in automobile and fast moving consumer goods markets,” Chao said.
Sina also revealed that the company is planning to launch a new version of the service with enhanced sharing features and more improved profile pages soon.
Last month, the company announced its mobile partnership with Chinese search engine Baidu. The deal involves Sina integrating Baidu search into its mobile site, and Baidu preinstalling Weibo app in its cloud service. The companies also plan to work together to provide users with a better, and richer mobile browsing experience.