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SEC Filings

6-K
WEIBO CORP filed this Form 6-K on 08/10/2017
Entire Document
 

 

Income from operations for the second quarter of 2017 was $88.0 million, compared to $27.3 million for the same period last year. Non-GAAP income from operations was $100.1 million, compared to $34.7 million for the same period last year.

 

Non-operating income for the second quarter of 2017 was $1.5 million, compared to a non-operating loss of $1.0 million for the same period last year. Income tax expenses were $16.4 million, compared to $1.8 million for the same period last year, primarily due to higher profitability and the change in tax status of the Company’s PRC subsidiary from being fully tax exempted to being subject to 50% of the enterprise income tax rate, or 12.5%, in 2017.

 

Net income attributable to Weibo for the second quarter of 2017 was $73.5 million, or diluted net income per share of $0.33, compared to $25.9 million for the same period last year, or diluted net income per share of $0.12. Non-GAAP net income attributable to Weibo for the second quarter of 2017 was $86.7 million, or diluted net income per share of $0.38, compared to $35.5 million for the same period last year, or diluted net income per share of $0.16.

 

As of June 30, 2017, Weibo’s cash, cash equivalents and short-term investments totaled $609.2 million. For the second quarter of 2017, cash provided by operating activities was $157.2 million, capital expenditures totaled $2.5 million, and depreciation and amortization expenses amounted to $3.5 million.

 

Business Outlook

 

For the third quarter of 2017, Weibo estimates that its net revenues to be between $290 million and $300 million, which assumes an average exchange rate of 6.75 RMB to US$1.00. This forecast reflects Weibo’s current and preliminary view, which is subject to change.

 

Conference Call

 

Weibo’s management team will host a conference call from 7 AM — 8 AM Eastern Time on August 9, 2017 (or 7 PM — 8 PM Beijing Time on August 9, 2017) 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:  +1 866-519-4004

Hong Kong Toll Free:  800-906-601

China Toll Free:  400-620-8038

International:  +65 6713-5090

Passcode for all regions:  64857454

 

A replay of the conference call will be available from 10:00 AM Eastern Time on August 9, 2017-10:00 AM Eastern time on August 17, 2017. The dial-in number is +61 2-8199-0299. The passcode for the replay is 64857454.

 



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