Weibo reports 62% year-over-year growth in advertising revenues. Value-added services, premium subscriptions and other paid offerings, only saw 1% increase due to a 72% decrease in data licensing revenue.
Advertising revenues excluding that from Alibaba’s e-commerce ads grew 94%, driven by spending from its 500,000 SME advertisers.
Monthly active users increased 33% to 222 million and daily active users reached 100 million.
Sina reports third quarter results.
Alibaba announces two funds to invest in startups in Hong Kong and Taiwan, respectively. — TechCrunch
Chinese 4G subscribers increased 26 million in October to 328 million, accounting for 25% of the total mobile phone users, according to the Chinese Ministry of Industry and Information Technology.
Huayi Brothers, a leading film production company, announces to acquire a 20% stake in mobile gaming company Yingxiong Huyu for RMB1.9 billion (roughly US$300M).
Yingxiong Huyu was founded by Ying Shuling, former president of China Mobile Games (CMGE).
More companies that reported third quarter earnings today: