Chinese social media giant Sina Weibo reported net revenue of 431.8 million U.S. dollars in the second quarter of 2019, up one percent year on year, according to the company's unaudited financial results posted Monday.
Monthly active users of the Twitter-like service reached 486 million in June 2019, a net addition of approximately 55 million users year on year, while the average daily active users were 211 million in June, a net increase of approximately 21 million from a year ago, the result showed.
Net income attributable to the NASDAQ-listed company was 103 million U.S. dollars, compared to 140.9 million U.S. dollars for the same period last year.
Wang Gaofei, CEO of Weibo, noted the acceleration in user growth from the prior quarter and robust user engagement trends.
"On monetization, we continued to showcase a unique value proposition to advertisers, leveraging the ongoing ad product evolution to mobile, social and video," Wang said.