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6-K
WEIBO CORP filed this Form 6-K on 08/10/2017
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Exhibit 99.1

 

Weibo Reports Second Quarter 2017 Financial Results

 

BEIJING, China — August 9, 2017 — 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, 2017.

 

Second Quarter 2017 Highlights

 

·                  Net revenues totaled $253.4 million, an increase of 72% year-over-year, exceeding the Company’s guidance between $240 million and $250 million.

 

·                  Advertising and marketing revenues were $218.3 million, an increase of 72% year-over-year.

 

·                  Other revenues were $35.0 million, an increase of 78% year-over-year.

 

·                  Net income attributable to Weibo was $73.5 million, an increase of 184% year-over-year, and diluted net income per share was $0.33, compared to $0.12 for the same period last year.

 

·                  Non-GAAP net income attributable to Weibo was $86.7 million, an increase of 144% year-over-year, and non-GAAP diluted net income per share was $0.38, compared to $0.16 for the same period last year.

 

·                  Adjusted EBITDA was $103.1 million, an increase of 166% year-over-year, or 41% of net revenues, compared to 26% for the same period last year.

 

·                  Monthly active users (“MAUs”) in June 2017 was 361 million, an increase of 28% year-over-year, 92% of which were mobile users. Average daily active users in June 2017 was 159 million, an increase of 26% year-over-year.

 

“We continue to see great momentum in our business. Revenues from SMEs, key accounts and non-advertising all saw robust growth, while our profit and user base reached new highs,” said Gaofei Wang, CEO of Weibo. “These strong results give us confidence that our strategy to focus on developing a unique and expansive content ecosystem, launching engaging features like Weibo Stories, and attracting KOLs, celebrities and other influencers to increase the social and viral nature of Weibo is boding well for us.”

 

Second Quarter 2017 Financial Results

 

For the second quarter of 2017, Weibo reported net revenues of $253.4 million, compared to $146.9 million for the same period last year. Advertising and marketing revenues totaled $218.3 million, compared to $127.2 million for the same period last year, and advertising and marketing revenues from small & medium-sized enterprises (“SMEs”) and key accounts were $205.1 million, compared to $114.3 million for the same period last year. Other revenues totaled $35.0 million, compared to $19.7 million for the same period last year.

 

Costs and expenses for the second quarter of 2017 totaled $165.4 million, compared to $119.6 million for the same period last year. The rise in costs and expenses was primarily due to an increase in marketing expenses, turnover taxes (resulting from higher revenues), development costs and stock-based compensation. Non-GAAP costs and expenses were $153.3 million, compared to $112.2 million for the same period last year.

 



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