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Weibo grows to 157 million monthly active users, but still losing money in Q2

Weibo grows to 156.5 million monthly active users, but still losing money in Q2 2014

The Twitter-esque Sina Weibo (NASDAQ:WB) is now up to 156.5 million monthly active users (MAUs) – of whom 69.7 million are active each day – according to the company’s Q2 2014 earnings.

Despite the onslaught of WeChat, which rose to 438 million MAUs, Weibo is still growing its user-base, albeit slowly. Its MAUs are up 30 percent in the past 12 months.

The social network is still losing money, however. Weibo revenues grew to US$77.3 million in Q2 – up 105 percent year-on-year – but that was ruined by a net loss of US$15.4 million. At least the losses are narrowing. Weibo’s loss is 56 percent less than in Q2 2013, and down from the US$47.4 million loss in Q1, which was Weibo’s first earnings report after the April IPO that valued Weibo at about US$3.4 billion.

Weibo’s share price is pretty stagnant since its debut. It closed the very first day of trading at $20.24 per share, and now stands at $21.46 at the close of Thursday’s markets.

See: Life beyond WeChat and Weibo: 15 niche social networks in China

Editing by Terence Lee

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