chinese social media giant weibo has reported reve nu es of media giant weibo has reported revenues ofmedia giant weibo has reported revenues ofjust under $200 million, an increase of 67% compared the year ago levels. profits are coming in at about $47 million us. the company claims 347 million monthly active users, an increase of 30% over the past year. another tech giant in china, tencent, is tipped to report encouraging numbers today. but with a saturated market, what are the other avenues for growth? certainly they need to start looking outside of the chinese market. there's still a lot of growth in chinese market, for example tencent are actively looking outside, looking at notjust china but around hong kong and singapore. the chinese communities in europe and america. and also exploring other opportunities. we are exploring advertising channels, getting companies to put their brands on wii chat, for tencent. they are already approaching the number of users that whatsapp has? injanuary number of users that whatsapp has? in january whatsapp said they number of users that whatsapp h

is weibo doing the same? reporter: weibo is doing -- being quite smart.terhousecoopers ceo. it is ridiculous the amount of money that is going into this industry. this is more user generated content which is cheap for them to produce while still getting a lot of hits. haidi: they do so much for that. bhp, take a look at how they are trading this morning. we see an overall down session when it comes to sydney. the whole material sector is a bit behind today. so many could be meeting with elliott management to discuss aspects of elliott's plan to unlock shareholders value. a reporter has been on the story. they're very stubborn, not letting go. it should be yielding some sort of result. aporter: there seems to be middle ground between elliott management and bhp. they are at the same conference right now. there is a suggestion that the two sides may need. elliott has been scathing in the criticism of bhp saying its rebuttal of shareholder value notes was a do-nothing approach and one son independent review of the sale division. of destroyingp $31 billion wor

weibo reported a gain on tuesday.o we think of communist fang analogy makes a lot of sense, even though try as we will, we could not come up with a clever acronym for these client behemoths. they carry a whole host of additional risks that we don't need to deal with in america. we have really strong securities regulation, china not so much. we have rigorous accounting standards, china's notoriously opaque, but they have treated accounting fraud as a capital crime, so at least that tends to deter some. what really makes me nervous about these red internet plays is that they run way too much. i wish i had recommended the chinese banks six months ago, but i didn't. and my experience tells me it's difficult to chase. even after it's remarkable month,s cheap. a stock that i have liked ever since interviewing the manager. which brings me to the bottom line, sure red fang, jd.com, alibaba. weibo, bidu and 10 cent, have all caught fire lightly. while these are some tremendous growth stories, the only one i feel comfortable re

now to weibo, commonly known as china's twitter. 500 million people using the microblogging site, and its parent company sina has enjoyed exploding revenue growth. the chinese telecom giant says it is because of the rapid uptick of weibo users in rural areas. sina chairman charles chow spoke exclusively to bloomberg about how he plans to keep driving forward. >> last year, we grew revenue by 100 percent to 110% for advertising, so that is very big. that moment is continuing this year, so you will see growth in revenues, mainly for advertising, and to a lesser extent, from fee-based services. >> weibo, the messaging service that obviously provides some much of your revenue stream, you have done a very successful job in growing weibo users in second-tier and third tier cities in china. how much growth have you got following that strategy, and where are your new markets? >> we will grow faster than our competitors in the usage growth this year, but the overall market is slowing down. so we are going to focus on the time spent competiti

>> weibo does not have major plans to go overseas at the moment. it is china-focused.that is a future area for them, or at least targeting the growing chinese population outside of china. ♪ >> toshiba releasing delayed earnings, saying it has to sell its flash memory chip unit to stay alive. the company facing legal action over the chip unit itself. what is going on here? this is a company with the venerable history looking seriously challenged. >> toshiba has deep problems because of the troubles in the westinghouse nuclear business. in the process they are trying to sell off their chip business to fill the black hole with earnings, and they are trying to also figure out what they're going to do with that westinghouse unit. over the weekend we had southern, the u.s. utility agreed to take control from toshiba, which limits some liabilities toshiba may have as long as they are able to finalize that deal. at the same time, their partner in the chips unit is -- western digital is filing for arbitration to slow down the sale. >> they want a say in terms of who it will be

described as the twitter of china, weibo has outgrown the moniker in more ways than one.arket cap than peer.p this is looking pretty good. >> they have been able to do what twitter has not been able to do, grow its user base at a rapid rate and managing to turn a profit. they have a walled garden in china because of the great firewall, but there is plenty of competition domestically. they have managed to beat them. >> what does it mean in terms of competition with others like twitter? does not have major plans to go overseas at the moment. it is china-focus. you have to ask if that is a future area for them, or at least targeting the growing chinese population outside of china. ♪ releasing delayed earnings, saying it has to sell its flash memory chip unit to stay alive. the company facing legal action over the chip unit itself. what is going on here? it is a company with the venerable history looking challenge. problemsa has deep because of the troubles in the westinghouse nuclear business. they have been trying to selloff their chip business to fill the black hole with e

weibo up strongly in the u.s.-quarter revenue beat estimates. $.10 will report after the close today. we are expecting to see 40% on quarter growth there. i'm paul allen in sydney. more from "bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. let's get back to our lead, the fallout over claims that president trump discussed highly classified intelligence in a meeting with the russian foreign minister and ambassador last week. this, paired with news of a massive cyber attack that has swept the globe, has huge implications for the intelligence community. joining us from l.a., nick bilton, special correspondent for "vanity fair."is the author of a new book about the criminal mastermind behind the silk road. in writing this book, you got an up close and personal look at the cyber underworld. we have a situation at the white house changing minute to minute, a potentially warmer relationship with russia. how do you think this is impacting the cyber threat landscape? >> i think the lan

the white line is way both -- weibo's market cap.this is after it came through with very solid earnings in the u.s. overnight. we are awaiting tencent and alibaba the day after. china tech perhaps overtaking san francisco. and and manage. story,now to our top james comey asked to drop an investigation into the former security adviser, michael flynn, according to a person who was given a copy of the memo that comey wrote following his conversation with trump. anna: this introduces the possibility that the president may have obstructed justice, which is an impeachable offense. the white house denied the offense. joining us now is jodie snyder with the latest on the twists and turns in the white house. jodie, good to have you on the program. what has been the reaction in washington and congress, given this break late in the day in u.s. time? jodie: first of all, the white house has denied this. there was not a news conference or really anything but a statement been eyeing it. on capitol hill, we started to hear from with and democrats.