Weibo reports robust Q2 user growth

BEIJING - Chinese social media giant Weibo reported strong user performance in the second quarter (Q2) of this year as the company continues to upgrade and optimize its user products.

Weibo's monthly active users stood at 486 million by the end of June, a net addition of about 55 million users over a year ago, according to its unaudited financial results released Monday.

Average daily active users reached 211 million as of the end of Q2, increasing by some 21 million users compared with Q2 2018.

Weibo CEO Wang Gaofei attributed the robust Q2 user growth to a strengthened social network effect as well as the company's consistent efforts in user product upgrade and optimization.

The tech firm raked in net revenue of about $431.8 million, up 1 percent year-on-year.

Advertising and marketing revenues remained the major source of income, bringing in $370.7 million in Q2.

Weibo estimated its net revenue would grow 6 percent to 9 percent year-on-year on a constant currency basis for the third quarter of 2019.