Weibo's net revenue in the first quarter of 2023 was $413.8 million, down 15% from a year earlier.
Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com May 25 news, Weibo & Johnson reported unaudited results for the first quarter ended March 25. Weibo's first-quarter net income was $413.8 million, down 15% from a year earlier, with an estimated $413 million; first-quarter net profit was $101 million, or adjusted earnings per share of $0.47, or an estimated $0.43, compared with a net loss of $67.5 million in the same period last year.
Weibo's advertising and marketing revenue in the first quarter was $355.3 million, down 17 percent from the same period last year, with an estimated $357.4 million; Weibo had 593 million monthly active users in the first quarter, a net increase of about 11 million year-on-year; and daily active users were 255 million, a net increase of about 3 million over the same period last year.
CTOnews.com with a summary of Weibo's first quarter 2023 results:
Net income was $413.8 million, down 15 per cent year-on-year and 7 per cent at fixed exchange rates.
Advertising and marketing revenue was $355.3 million, down 17% from a year earlier.
Revenue from value-added services was $58.5 million, up 2 per cent from a year earlier.
The operating profit is US $96.5 million and the operating profit margin is 23%.
Net income attributable to Weibo shareholders was $100.5 million, or 42 cents per diluted share.
Non-GAAP operating profit is $128.6 million, and non-GAAP operating profit margin is 31%.
Net income attributable to Weibo shareholders under non-GAAP was $111.2 million, or 47 cents per diluted share.
The number of monthly active users in March 2023 was 593 million, a net increase of about 11 million users over the same period last year. Mobile users account for 95% of the monthly active users.
The average number of daily active users in March 2023 was 255 million, a net increase of about 3 million users over the same period last year.
[1] based on the fixed exchange rate (non-GAAP) benchmark, we assume that the exchange rate for the first quarter of 2023 is the same as that for the first quarter of 2022, that is, RMB 6.34 = 1 US dollar.
