China's leading microblog portal Weibo on Thursday reported 48 percent growth year-on-year in revenue to $124.7 million for the third quarter ended September 30.
The revenue is higher than the company's projection of $120 million to $123 million, thanks to 62 percent growth in advertising and marketing revenue. Its profit was $14.5 million, in comparison with a loss of $6.7 million a year earlier.
For the last quarter, Weibo projects $146 million to $149 million revenue.
Weibo, in which Chinese Internet company Sina Corp still retains a controlling stake, got listed separately in the U.S. last year.
Overall, Sina on Wednesday reported its stronger-than-expected revenue for the third quarter driven by Weibo. Its revenue grew 14 percent to $226.3 million, beating analysts' estimates of $222.6 million surveyed by Reuters.
The company, however, reported a profit of $14.9 million, down from $130.8 million over the same period last year.
