Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on September 1, Weibo reported second-quarter net income of US $450.2 million, down 22% from the same period last year; advertising and marketing revenue of US $385.6 million, down 23% from the same period last year; operating profit of US $93.9 million, with an operating profit margin of 21%; and net profit belonging to Weibo shareholders was US $28.3 million, or 12 cents per diluted net income per share.

CTOnews.com learned that Weibo had 582 million monthly active users in June 2022, a net increase of about 16 million users over the same period last year, with mobile users accounting for 95 per cent of the monthly active users. The average number of daily active users in June 2022 was 252 million, a net increase of about 7 million users over the same period last year.

Weibo's advertising and marketing revenue was $385.6 million in the second quarter of 2022, down 23% from $502.3 million in the same period last year. Advertising and marketing revenue, excluding Alibaba's advertising revenue, was $361.8 million, down 22% from $462.4 million in the same period last year.

Weibo's value-added services revenue was $64.6 million in the second quarter of 2022, down 10 per cent from $72.1 million in the same period last year. The decrease in revenue from value-added services is mainly due to a decrease in revenue contributions from member services and game-related services.

Weibo's costs and expenses totaled $356.2 million in the second quarter of 2022, down 7 per cent from $381.2 million in the same period last year. Operating income in the second quarter was $93.9 million, compared with $193.2 million in the same period last year. Operating margins were 21 per cent, compared with 34 per cent last year. Operating income under non-GAAP was $145.3 million, compared with $223.2 million in the same period last year. Non-GAAP operating margins are 32 per cent, compared with 39 per cent last year.

The non-operating loss in the second quarter of 2022 was $47.4 million, compared with a loss of $65.3 million in the same period last year.

As of June 30, 2022, Weibo's cash, cash equivalents and short-term investments totaled $3 billion. In the second quarter of 2022, cash provided by operating activities was $83 million, total capital expenditure was $14.8 million, and depreciation and amortization expenses were $14.1 million.

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