Table of Contents

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 6-K

 


 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2016

 

Commission File Number: 001-36397

 


 

Weibo Corporation

(Registrant’s Name)

 


 

7/F, Shuohuang Development Plaza
No. 6 Caihefang Road, Haidian District, Beijing, 100080
People’s Republic of China

(Address of Principal Executive Offices)

 


 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F x     Form 40-F o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

 



Table of Contents

 

TABLE OF CONTENTS

 

Signatures

 

 

Press Release regarding Results of Operations and Financial Condition for the Second Quarter Ended June 30, 2016 Issued by Weibo Corporation on August 8, 2016

 

2



Table of Contents

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

WEIBO CORPORATION

 

 

 

 

 

 

Date: August 9, 2016

By:

/s/ Herman Yu

 

 

Herman Yu

 

 

Chief Financial Officer

 

3


Exhibit 99.1

 

Weibo Reports Second Quarter 2016 Financial Results

 

BEIJING, China, August 8, 2016–Weibo Corporation (“Weibo” or the “Company”) (NASDAQ: WB), a leading social media in China, today announced its unaudited financial results for the second quarter ended June 30, 2016.

 

Second Quarter 2016 Highlights

 

·                   Net revenues increased 36% year over year to $146.9 million, exceeding the Company’s guidance between $138 million and $143 million.

·                  Advertising and marketing revenue increased 45% year over year to $127.2 million.

·                  Weibo Value-Added Services (“VAS”) revenue was $19.7 million, compared to $20.0 million for the same period last year.

·                  Net income attributable to Weibo increased 516% year over year to $25.9 million, and diluted net income per share was $0.12, compared to $0.02 for the same period last year.

·                  Non-GAAP net income attributable to Weibo increased 225% year over year to $35.5 million, and non-GAAP diluted net income per share was $0.16, compared to $0.05 for the same period last year.

·                  Adjusted EBITDA increased 152% year over year to $38.8 million, or 26% of net revenues.

·                  Monthly active users (“MAUs”) in June 2016 grew 33% year over year to 282 million, 89% of which were mobile users. Average daily active users (“DAUs”) in June 2016 grew 36% year over year to 126 million.

 

“Weibo is benefiting from the strong adoption of social marketing with key account and SME revenues growing 73% and 107% year over year, respectively, in the second quarter.” said Gaofei Wang, Weibo’s CEO. “User growth continues to be robust, especially coming from mobile, where we are seeing short video and live video taking off. Additionally, we are seeing strong operating leverage from Weibo’s financial model, resulting from strong revenue growth, coupled with the platform nature of our business model.”

 

Second Quarter 2016 Financial Results

 

For the second quarter of 2016, Weibo reported net revenues of $146.9 million, compared to $107.8 million for the same period last year. Advertising and marketing revenue totaled $127.2 million, compared to $87.9 million for the same period last year. Advertising and marketing revenue from key accounts and small & medium-sized enterprises (SME) was $114.3 million, compared to $59.4 million for the same period last year. Revenue from Alibaba was $12.8 million, compared to $28.4 million for the same period last year. Weibo VAS revenue totaled $19.7 million, compared to $20.0 million for the same period last year.

 



 

Costs and expenses for the second quarter of 2016 totaled $119.6 million, compared to $105.5 million for the same period last year. Non-GAAP costs and expenses were $112.2 million, compared to $98.1 million for the same period last year. The increase in non-GAAP costs and expenses was primarily due to an increase in bandwidth costs resulting from strong video consumption and overall growth in traffic, increase in marketing expenses and value added taxes associated with higher revenues, and higher personnel-related costs.

 

Income from operations for the second quarter of 2016 was $27.3 million, compared to $2.3 million for the same period last year. Non-GAAP income from operations was $34.7 million, compared to $9.7 million for the same period last year.

 

Non-operating loss for the second quarter of 2016 was $1.0 million, compared to a non-operating income of $2.2 million for the same period last year.

 

Net income attributable to Weibo for the second quarter of 2016 was $25.9 million, or diluted net income per share of $0.12, compared to $4.2 million for the same period last year, or diluted net income per share of $0.02. Non-GAAP net income attributable to Weibo for the second quarter of 2016 was $35.5 million, or diluted net income per share of $0.16, compared to $10.9 million for the same period last year, or diluted net income per share of $0.05.

 

As of June 30, 2016, Weibo’s cash, cash equivalents and short-term investments totaled $396.5 million. For the second quarter of 2016, cash provided by operating activities was $24.1 million, capital expenditures totaled $1.5 million, and depreciation and amortization expenses amounted to $3.5 million.

 

Business Outlook

 

For the third quarter of 2016, Weibo estimates that its net revenues to be between $168 million and $173 million. This forecast reflects Weibo’s current and preliminary view, which is subject to change.

 

Non-GAAP Measures

 

This release contains the following non-GAAP financial measures: non-GAAP costs and expenses, non-GAAP income (loss) from operations, non-GAAP net income, non-GAAP diluted net income per share attributable to Weibo and adjusted EBITDA. These non-GAAP financial measures should be considered in addition to, not as a substitute for, measures of the Company’s financial performance prepared in accordance with U.S. GAAP.

 



 

The Company’s non-GAAP financial measures exclude stock-based compensation, amortization of intangible assets and related tax provision, gain on the sale of investments and impairment on investments, net, and dividend income. In addition, adjusted EBITDA excludes depreciation expenses, interest income, net, and income tax expenses. The Company’s management uses these non-GAAP financial measures in their financial and operating decision-making, because management believes these measures reflect the Company’s ongoing operating performance in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures provide useful information to investors and others in the following ways: (i) in comparing the Company’s current financial results with the Company’s past financial results in a consistent manner, and (ii) in understanding and evaluating the Company’s current operating performance and future prospects in the same manner as management does, if they so choose. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gains (losses) and other items (i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative of the Company’s core operating results and business outlook.

 

Use of non-GAAP financial measures has limitations. The Company’s non-GAAP financial measures do not include all income and expense items that affect the Company’s operations.  They may not be comparable to non-GAAP financial measures used by other companies.  Accordingly, care should be exercised in understanding how the Company defines its non-GAAP financial measures. Reconciliations of the Company’s non-GAAP measures to the nearest comparable GAAP measures are set forth in the section below titled “Unaudited Reconciliation of Non-GAAP to GAAP Results.”

 

Conference Call

 

Weibo will host a conference call at 9 PM – 10 PM Eastern Time on August 8, 2016 (or 9 AM – 10 AM Beijing Time on August 9, 2016) to present an overview of the Company’s financial performance and business operations. A live webcast of the call will be available through the Company’s corporate website at http://ir.weibo.com. The conference call can be accessed as follows:

 

US Toll Free:  +1 (888) 346-8982

Hong Kong Toll Free:  +852 800-905-945

China Toll Free:  +86 400-120-1203

International:  +1 (412) 902-4272

Passcode for all regions:  Weibo

 

A replay of the conference call will be available through midnight Eastern Time, August 15, 2016. The dial-in number is +1 (412) 317-0088. The passcode for the replay is 10089309.

 

About Weibo Corporation

 

Weibo is a leading social media for people to create, share and discover Chinese-language content. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, as well as content aggregation and distribution. Any user can create and post a feed of up to 140 Chinese characters and attach multi-media or long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

 



 

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide variety of advertising and marketing solutions to its customers, ranging from large brand advertisers to Alibaba/e-commerce merchants to small and medium sized enterprises to individuals. The Company generates a substantial majority of revenues from the sale of advertising and marketing services, including the sale of social display ads, promoted feeds and event-based ad solutions. Weibo has developed and is continuously refining its social interest graph recommendation engine, which enables its customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

 

Safe Harbor Statement

 

This press release contains forward-looking statements that relate to, among other things, Weibo’s expected financial performance and strategic and operational plans (as described, without limitation, in the “Business Outlook” section and in quotations from management in this press release. Weibo may also make forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “confidence,” “estimates” and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo’s limited operating history in certain new businesses; failure to grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company’s quarterly operating results; the Company’s reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to develop the small and medium enterprise market by the Company or through cooperation with other parties, including Alibaba; failure to successfully integrate acquired businesses; risks associated with the Company’s investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo’s annual report on Form 20-F for the fiscal year ended December 31, 2015 filed with the SEC on April 28, 2016 and other filings with the SEC. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

 

Contact:

Investor Relations

Weibo Corporation

Phone: +86 10 5898-3017

Email: ir@staff.weibo.com

 



 

WEIBO CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30,

 

March 31,

 

June 30,

 

 

 

2016

 

2015

 

2016

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

$

127,173

 

$

87,867

 

$

99,246

 

$

226,419

 

$

167,027

 

Weibo VAS

 

19,712

 

19,975

 

20,044

 

39,756

 

37,105

 

Total net revenues

 

146,885

 

107,842

 

119,290

 

266,175

 

204,132

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues (a)

 

40,657

 

33,689

 

36,626

 

77,283

 

62,614

 

Sales and marketing (a)

 

32,166

 

28,514

 

30,041

 

62,207

 

59,700

 

Product development (a)

 

37,611

 

35,009

 

36,934

 

74,545

 

69,337

 

General and administrative (a)

 

9,200

 

8,292

 

8,538

 

17,738

 

14,664

 

Total costs and expenses

 

119,634

 

105,504

 

112,139

 

231,773

 

206,315

 

Income (loss) from operations

 

27,251

 

2,338

 

7,151

 

34,402

 

(2,183

)

 

 

 

 

 

 

 

 

 

 

 

 

Non-operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of and impairment on investments, net

 

(3,440

)

608

 

(868

)

(4,308

)

608

 

Interest and other income , net

 

2,411

 

1,621

 

1,420

 

3,831

 

3,077

 

 

 

(1,029

)

2,229

 

552

 

(477

)

3,685

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income tax expenses

 

26,222

 

4,567

 

7,703

 

33,925

 

1,502

 

Income tax expenses

 

(1,796

)

(414

)

(548

)

(2,344

)

(409

)

Net income

 

24,426

 

4,153

 

7,155

 

31,581

 

1,093

 

Less: Net income (loss) attributable to noncontrolling interest

 

(1,431

)

(43

)

57

 

(1,374

)

(53

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Weibo

 

$

25,857

 

$

4,196

 

$

7,098

 

$

32,955

 

$

1,146

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share attributable to Weibo

 

$

0.12

 

$

0.02

 

$

0.03

 

$

0.15

 

$

0.01

 

Diluted net income per share attributable to Weibo

 

$

0.12

 

$

0.02

 

$

0.03

 

$

0.15

 

$

0.01

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing basic net income per share attributable to Weibo

 

213,537

 

207,512

 

212,269

 

212,903

 

206,267

 

Shares used in computing diluted net income per share attributable to Weibo

 

221,611

 

218,125

 

219,626

 

220,780

 

217,351

 

 

 


(a) Stock-based compensation in each category:

 

Cost of revenues

 

$

543

 

$

289

 

$

508

 

$

1,051

 

$

541

 

Sales and marketing

 

900

 

735

 

1,018

 

1,918

 

1,429

 

Product development

 

2,501

 

2,401

 

3,555

 

6,056

 

4,709

 

General and administrative

 

3,364

 

3,568

 

3,406

 

6,770

 

5,861

 

 



 

WEIBO CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

 

 

 

June 30,

 

December 31,

 

 

 

2016

 

2015

 

 

 

 

 

 

 

Assets

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

 

$

129,942

 

$

237,440

 

Short-term investments

 

266,575

 

98,439

 

Accounts receivable, net

 

114,585

 

120,230

 

Prepaid expenses and other current assets

 

48,191

 

42,295

 

Current assets subtotal

 

559,293

 

498,404

 

 

 

 

 

 

 

Property and equipment, net

 

20,312

 

22,850

 

Goodwill and intangible assets, net

 

12,199

 

13,083

 

Investments

 

293,713

 

294,679

 

Other assets

 

5,242

 

10,173

 

Total assets

 

$

890,759

 

$

839,189

 

 

 

 

 

 

 

Liabilities and Shareholders’ Equity

 

 

 

 

 

Liabilities:

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable *

 

$

30,461

 

$

40,456

 

Accrued liabilities *

 

134,429

 

117,040

 

Deferred revenues

 

35,743

 

39,091

 

Amount due to SINA

 

17,617

 

12,188

 

Current liabilities subtotal

 

218,250

 

208,775

 

 

 

 

 

 

 

Long-term liability

 

2,065

 

2,385

 

Total liabilities

 

220,315

 

211,160

 

 

 

 

 

 

 

Shareholders’ equity :

 

 

 

 

 

Weibo shareholders’ equity

 

664,589

 

620,672

 

Non-controlling interest

 

5,855

 

7,357

 

Total shareholders’ equity

 

670,444

 

628,029

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

890,759

 

$

839,189

 

 


* Commencing on January 1, 2016, in order to enhance comparability with industry peers, payables that have been invoiced or formally agreed with the suppliers were recorded in accounts payable. To conform to current period presentations, the relevant amounts in prior periods have been reclassified from accrued liabilities accordingly. Such reclassification amounted to $37.9 million as of December 31, 2015.

 



 

WEIBO CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

(In thousands, except per share data)

 

 

 

Three months ended

 

 

 

June 30, 2016

 

June 30, 2015

 

March 31, 2016

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

Non-GAAP

 

 

 

 

 

Non-GAAP

 

 

 

Actual

 

Adjustments

 

Results

 

Actual

 

Adjustments

 

Results

 

Actual

 

Adjustments

 

Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

$

127,173

 

 

 

$

127,173

 

$

87,867

 

 

 

$

87,867

 

$

99,246

 

 

 

$

99,246

 

Weibo VAS

 

19,712

 

 

 

19,712

 

19,975

 

 

 

19,975

 

20,044

 

 

 

20,044

 

Net revenues

 

$

146,885

 

 

 

$

146,885

 

$

107,842

 

 

 

$

107,842

 

$

119,290

 

 

 

$

119,290

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7,308

)(a)

 

 

 

 

(6,993

)(a)

 

 

 

 

(8,487

)(a)

 

 

 

 

 

 

(161

)(b) 

 

 

 

 

(373

)(b) 

 

 

 

 

(241

)(b) 

 

 

Total costs and expenses

 

$

119,634

 

$

(7,469

)

$

112,165

 

$

105,504

 

$

(7,366

)

$

98,138

 

$

112,139

 

$

(8,728

)

$

103,411

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7,308

(a)

 

 

 

 

6,993

(a)

 

 

 

 

8,487

(a)

 

 

 

 

 

 

161

(b)

 

 

 

 

373

(b)

 

 

 

 

241

(b)

 

 

Income from operations

 

$

27,251

 

$

7,469

 

$

34,720

 

$

2,338

 

$

7,366

 

$

9,704

 

$

7,151

 

$

8,728

 

$

15,879

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7,308

(a)

 

 

 

 

6,993

(a)

 

 

 

 

8,487

(a)

 

 

 

 

 

 

161

(b)

 

 

 

 

373

(b)

 

 

 

 

241

(b)

 

 

 

 

 

 

(40

)(c)

 

 

 

 

(93

)(c)

 

 

 

 

(60

)(c)

 

 

 

 

 

 

3,440

(d)

 

 

 

 

(608

)(d)

 

 

 

 

868

(d)

 

 

 

 

 

 

(1,177

)(e)

 

 

 

 

80

(e)

 

 

 

 

(280

)(e)

 

 

Net income attributable to Weibo

 

$

25,857

 

$

9,692

 

$

35,549

 

$

4,196

 

$

6,745

 

$

10,941

 

$

7,098

 

$

9,256

 

$

16,354

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share attributable to Weibo

 

$

0.12

 

 

 

$

0.16

 

$

0.02

 

 

 

$

0.05

 

$

0.03

 

 

 

$

0.07

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing diluted net income per share attributable to Weibo

 

221,611

 

 

 

221,611

 

218,125

 

 

 

218,125

 

219,626

 

 

 

219,626

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP net income

 

 

 

 

 

$

35,549

 

 

 

 

 

$

10,941

 

 

 

 

 

$

16,354

 

Interest income, net

 

 

 

 

 

(1,893

)

 

 

 

 

(1,562

)

 

 

 

 

(1,300

)

Income tax expenses

 

 

 

 

 

1,836

 

 

 

 

 

507

 

 

 

 

 

608

 

Depreciation expenses

 

 

 

 

 

3,316

 

 

 

 

 

5,521

 

 

 

 

 

3,300

 

Adjusted EBITDA

 

 

 

 

 

$

38,808

 

 

 

 

 

$

15,407

 

 

 

 

 

$

18,962

 

 



 

WEIBO CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

(In thousands, except per share data)

 

 

 

Six months ended

 

 

 

June 30, 2016

 

June 30, 2015

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

Non-GAAP

 

 

 

Actual

 

Adjustments

 

Results

 

Actual

 

Adjustments

 

Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

$

226,419

 

 

 

$

226,419

 

$

167,027

 

 

 

$

167,027

 

Weibo VAS

 

39,756

 

 

 

39,756

 

37,105

 

 

 

37,105

 

Net revenues

 

$

266,175

 

 

 

$

266,175

 

$

204,132

 

 

 

$

204,132

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(15,795

)(a)

 

 

 

 

(12,540

)(a)

 

 

 

 

 

 

(402

)(b) 

 

 

 

 

(744

)(b) 

 

 

Total costs and expenses

 

$

231,773

 

$

(16,197

)

$

215,576

 

$

206,315

 

$

(13,284

)

$

193,031

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,795

(a)

 

 

 

 

12,540

(a)

 

 

 

 

 

 

402

(b)

 

 

 

 

744

(b)

 

 

Income (loss) from operations

 

$

34,402

 

$

16,197

 

$

50,599

 

$

(2,183

)

$

13,284

 

$

11,101

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,795

(a) 

 

 

 

 

12,540

(a)

 

 

 

 

 

 

402

(b)

 

 

 

 

744

(b)

 

 

 

 

 

 

(100

)(c) 

 

 

 

 

(185

)(c) 

 

 

 

 

 

 

4,308

(d)

 

 

 

 

(608

)(d)

 

 

 

 

 

 

(1,457

)(e)

 

 

 

 

70

(e)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Weibo

 

$

32,955

 

$

18,948

 

$

51,903

 

$

1,146

 

$

12,561

 

$

13,707

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share attributable to Weibo

 

$

0.15

 

 

 

$

0.24

 

$

0.01

 

 

 

$

0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing diluted net income per share attributable to Weibo

 

220,780

 

 

 

220,780

 

217,351

 

 

 

217,351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP net income

 

 

 

 

 

$

51,903

 

 

 

 

 

$

13,707

 

Interest income, net

 

 

 

 

 

(3,193

)

 

 

 

 

(2,943

)

Income tax expenses

 

 

 

 

 

2,444

 

 

 

 

 

595

 

Depreciation expenses

 

 

 

 

 

6,616

 

 

 

 

 

10,780

 

Adjusted EBITDA

 

 

 

 

 

$

57,770

 

 

 

 

 

$

22,139

 

 


(a) To adjust stock-based compensation.

(b) To adjust amortization of intangible assets.

(c) To adjust tax provision on amortization of intangible assets.

(d) To adjust net gain on the sale of investments and impairment on investments and dividend income.

(e) To adjust income (loss) attributable to non-controlling interests.

 



 

WEIBO CORPORATION

UNAUDITED ADDITIONAL INFORMATION

(In thousands)

 

 

 

Three months ended

 

Six months ended

 

 

 

June 30,

 

March 31,

 

June 30,

 

 

 

2016

 

2015

 

2016

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

 

 

 

 

 

 

 

 

 

 

Advertising and marketing

 

 

 

 

 

 

 

 

 

 

 

Key accounts and small & medium-sized enterprises

 

$

114,324

 

$

59,444

 

$

88,126

 

$

202,450

 

$

104,111

 

Alibaba

 

12,849

 

28,423

 

11,120

 

23,969

 

62,916

 

Subtotal

 

127,173

 

87,867

 

99,246

 

226,419

 

167,027

 

 

 

 

 

 

 

 

 

 

 

 

 

Weibo VAS

 

19,712

 

19,975

 

20,044

 

39,756

 

37,105

 

 

 

$

146,885

 

$

107,842

 

$

119,290

 

$

266,175

 

$

204,132