User Metrics - As of the end of Q2, Weibo's monthly active users reached 588 million, with daily active users at 261 million [1] Strategic Focus - Weibo's overall strategy for the year remains centered on user value, maintaining its leading position in hot topics and entertainment content ecosystems, and stabilizing the competitiveness of its social products [2] - The platform is enhancing its social attributes by leveraging accumulated social relationships and interest communities, improving user sharing and interaction [2] - In Q2, Weibo strengthened user interaction experiences in core product scenarios, particularly in comment sections for celebrities and top influencers, effectively improving discussion quality [2] Revenue and Profitability - In Q2, Weibo reported total revenue of $444.8 million, approximately 3.2 billion RMB, with adjusted operating profit of $161.8 million, around 1.16 billion RMB [4] Search Product Development - Weibo's search product competitiveness improved in Q2, with the "Smart Search" feature seeing significant growth, reaching over 50 million monthly active users by June [5] - The compound growth rate for Weibo's Smart Search from January to June was 41.7%, ranking second among top applications [5] Advertising and E-commerce - In Q2, Weibo's advertising revenue reached $383.4 million, approximately 2.76 billion RMB, with significant increases in interest from food and beverage, apparel, and beauty sectors [6] - The collaboration with major e-commerce platforms during the 618 shopping festival led to a noticeable increase in e-commerce revenue [6] - Weibo maintained its ecological advantage in the automotive sector, particularly in discussions around new energy vehicles, with over 60% of new energy vehicle marketing coverage in the first half of the year [6]

Core Insights - Weibo reported a total revenue of 3.2 billion yuan for Q2 2025, with adjusted operating profit of 1.158 billion yuan, exceeding Wall Street expectations [1] - As of the end of Q2, Weibo had 588 million monthly active users and 261 million daily active users [1] - Weibo's "Zhiso" feature reached over 50 million monthly active users in June, with significant growth in daily active users compared to Q1 [1] - According to QuestMobile's report, Weibo's Zhiso had a compound growth rate of 41.7% in the first half of 2025, ranking second among the top 10 applications with over 10 million monthly active users and a positive growth rate [1] - Weibo's advertising revenue for Q2 was 2.756 billion yuan [1]

Financial Data and Key Metrics Changes - Weibo's total revenues for Q2 2025 reached $444.8 million, up 2% year over year [8][28] - Total advertising revenues were $383.4 million, also up 2% year over year [8][29] - Non-GAAP operating income was $161.8 million, representing a non-GAAP operating margin of 36% [9][28] - Net income attributable to Weibo was $133.2 million, an increase of 13% year over year [28][33] - Diluted EPS was $0.54 [28] Business Line Data and Key Metrics Changes - Advertising and marketing revenues were $383.4 million, a 2% increase, with key verticals being FMCG, e-commerce, and automotive [29] - Value-added service revenues were $61.4 million, also up 2% [29] - E-commerce and automotive sectors showed strong growth, while FMCG faced a year-over-year decline but showed signs of recovery [30][32] Market Data and Key Metrics Changes - In June 2025, Weibo's MAUs reached 588 million, and average DAUs reached 261 million, representing a net addition of 5 million users year over year [8][27] - The proportion of recommended content consumed by users increased to 43%, a 17% improvement [13] - Intelligent Search MAUs surpassed 50 million in June, with a 60% increase in queries and over 100% growth in DAU [18][39] Company Strategy and Development Direction - The company's strategy focuses on enhancing user value, maintaining leadership in trending topics and entertainment, and improving recommendation and search functions through AI [9][19] - The transition to an interest-based content distribution model aims to enhance content competitiveness and user engagement [12][15] - Weibo is prioritizing the integration of AI in both user engagement and monetization strategies [19][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of intelligent search and its potential to change user behavior [40][42] - The company anticipates challenges in the FMCG sector due to prior year comparisons and ongoing macroeconomic uncertainties [56] - There is a focus on increasing user stickiness and traffic through enhanced search capabilities and ad product offerings [43][61] Other Important Information - The company completed a product and technical framework upgrade in early July 2025, which has been rolled out to nearly all users [13] - The advertising strategy includes leveraging trending topics and celebrity resources to broaden industry reach [20][22] Q&A Session Summary Question: Can management elaborate on Weibo Smart Search's product strategy and future commercialization plans? - Management highlighted the growth of intelligent search, with MAUs over 50 million and significant increases in user queries and traffic [39][40] - Future commercialization may involve bundled cooperation with brands and potential ad placements in search results, but the focus is currently on expanding the user base [42][43] Question: What are the expectations for ad revenue growth in Q3 and the second half of the year? - Management expects strong growth in e-commerce and automotive sectors, while FMCG may face pressure due to prior year comparisons [54][56] - Information feed ads are anticipated to have the highest growth rate, with a shift towards performance-based advertising [57][58]

Financial Data and Key Metrics Changes - Weibo's total revenues for Q2 2025 reached $444.8 million, up 2% year over year [8][28] - Total advertising revenues were $383.4 million, also up 2% year over year [8][29] - Non-GAAP operating income was $161.8 million, representing a non-GAAP operating margin of 36% [9][28] - Net income attributable to Weibo was $133.2 million, an increase of 13% [28][34] Business Line Data and Key Metrics Changes - Advertising and marketing revenues were $383.4 million, reflecting a slight uptick driven by mixed performance across major ad verticals [29] - Value-added service revenues were $61.4 million, also up 2% year over year [29] - The top three verticals for advertising were FMCG, e-commerce, and automotive products [29] Market Data and Key Metrics Changes - E-commerce platforms showed solid year-over-year revenue growth, particularly benefiting from partnerships during the June shopping festival [20][29] - The automobile sector maintained healthy growth, with Weibo being a key discussion hub for new energy vehicles [21][29] - The FMCG sector experienced a year-over-year decline but showed early signs of gradual recovery [29][30] Company Strategy and Development Direction - Weibo's strategy focuses on enhancing user value, maintaining leadership in trending topics and entertainment, and improving recommendation and search functions through large language models [9][19] - The company aims to transition content operation from an influencer-based model to a vertical content-based model, attracting creators from various verticals [16] - The interest-based feed will become the primary content distribution method, enhancing content competitiveness and user engagement [14][16] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of intelligent search and its impact on user engagement and monetization [18][45] - The company anticipates challenges in the FMCG sector due to prior year comparisons and ongoing budget constraints in certain industries [60] - There is a focus on increasing the supply of quality content and enhancing user experience through AI integration [24][65] Other Important Information - The average content views per user remained stable, with the proportion of recommended content consumed increasing to 43%, a 17% improvement [14] - Cash and short-term investments totaled $2.11 billion as of June 30, 2025, down from $2.35 billion at the end of 2024 [35] Q&A Session Summary Question: Can management elaborate on the product strategy and future plan for commercialization of Weibo Smart Search? - Management highlighted that the intelligent search product has seen significant user growth, with MAUs surpassing 50 million and query growth of 60% [40][41] - Future commercialization may involve bundled cooperation with brands or traditional ad placements, but the focus is currently on expanding the user base [46] Question: What are the expectations for ad revenue growth in Q3 and the second half of the year? - Management expects strong growth in e-commerce and automotive sectors, while FMCG may face pressure due to prior year comparisons [58][60] - Information feed ads are anticipated to have the highest growth rate, with a shift towards performance-based ads [61]

微博2025第二季度净营收4.448亿美元，同比增长2%，广告收入同比增长2%；经营利润1.456亿美元，同比增长8%。二季度月活跃用户达到5.88亿，日 活跃用户达到2.61亿。 14日，微博发布2025年第二季度财报： 微博在成本控制方面的努力开始显现效果。总成本费用2.992亿美元，同比下降1%，主要得益于管理费用的大幅削减。管理费用从去年同期的2680万美 元降至796万美元，主要源于本季度收回了此前已作为坏账核销的应收账款。 | | | | Three months ended | | | | Six months ended | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | June 30, | | | June 30, | | June 30, | | June 30, | | | 2024 | | | 2025 | | 2024 | | 2025 | | Net revenues: | | | | | | | | | | Advertising and marketing | $ | 375,277 | $ | 38 ...

凤凰网科技讯 8月14日，微博发布公告，2025年第二季度净收入4.45亿美元（现汇率约合31.95亿元人民 币），同比增加2%，或依据固定汇率计算同比增加1%。 | | 截至以下日期止三個月 | | 截至以下日期止六個月 | | | --- | --- | --- | --- | --- | | | 2024年 | 2025年 | 2024年 | 2025年 | | | 6月30日 | 6月30日 | 6月30日 | 6月30日 | | 淨收入: | | | | | | 廣告及營銷 | $375.277 | $383,352 | $714.228 | $722.458 | | 增值服務 | 62,596 | 61,446 | 119,142 | 119.195 | | 淨收入 | 437,873 | 444,798 | 833.370 | 841.653 | | 成本及費用: | | | | | | 管業成本(1) | 89.790 | 103,451 | 176.611 | 192.253 | | 銷售及營銷(1) | 114,232 | 109.747 | 217.859 | 205.557 | | 座 ...

Exhibit 99.1 Reconciliation between U.S. GAAP and International Financial Reporting Standards PricewaterhouseCoopers was engaged by the Company to conduct limited assurance engagement in accordance with International Standard on Assurance Engagements 3000 (Revised) "Assurance Engagements Other Than Audits or Reviews of Historical Financial Information" ("ISAE 3000 (Revised)") on the reconciliation statement of the unaudited financial information of the Company, its subsidiaries, VIEs and VIEs' subsidiaries ...

Core Insights - Weibo reported total revenue of $444.8 million for Q2 2025, approximately 3.2 billion RMB, with an adjusted operating profit of $161.8 million, around 1.16 billion RMB [1] - The platform's monthly active users reached 588 million and daily active users reached 261 million by the end of Q2 [1] - Weibo's strategy focuses on user value, maintaining its leading position in trending and entertainment content, and enhancing its recommendation and search systems [1] User Engagement - In Q2, Weibo improved user interaction in core product scenarios, enhancing comment sections for celebrities and top influencers to reduce low-quality content [1] - The platform revitalized the community atmosphere in celebrity super topics, increasing diversity and real-time engagement [1] - Weibo established a vertical operation system that connects content creators across different fields, with over 50% of interest-based content production coming from cross-domain influencers [1] Product Development - The Zhiso product continued to grow rapidly, surpassing 50 million monthly active users in June, significantly enhancing user experience in trending searches and active search scenarios [2] - Daily active users of the Zhiso product saw substantial growth compared to Q1 [2] Commercial Performance - Weibo's advertising revenue for Q2 reached $383.4 million, approximately 2.76 billion RMB [3]

封面新闻记者 付文超 8月14日，微博发布2025年第二季度财报。二季度微博总营收4.448亿美元，约合32亿元人民币，二季度调整后运营利润1.618亿美元，约合11.58亿元人民 币，超华尔街预期。用户方面，截至二季度末，微博的月活跃用户达到5.88亿，日活跃用户达到2.61亿。 微博社交产品沿着平台多年积累的社交关系，以及兴趣社区来强化平台的社交属性，提升用户在平台分享和互动的积极性。二季度微博进一步加强了用户 在核心产品场景的社交互动体验，如重点针对明星和头部博主的评论区加强低质内容识别和治理，有效改善了讨论质量；针对明星超话，重点提升了明星 超话多样性、实时性的社区氛围体验，恢复明星超话社交感。 据了解，今年，微博的整体策略仍以用户价值为核心，保持平台在热点和文娱内容生态的领先优势，稳定社交产品竞争力，并在此基础上结合大模型能力 重点投入加强推荐、搜索体系的建设，实现用户规模和活跃的增长。 ...

Core Insights - Weibo reported its Q2 2025 unaudited financial results, showing a revenue of $444.8 million, a 2% year-over-year increase [1][3] - The company’s net profit attributable to Weibo shareholders was $125.7 million, with diluted earnings per share of $0.48 [1][4] Financial Performance Summary - Q2 2025 net revenue totaled $444.8 million, up from $437.9 million in the same period last year, reflecting a 2% increase [3] - Advertising and marketing revenue reached $383.4 million, also a 2% increase from $375.3 million year-over-year [3] - Value-added services revenue was $61.4 million, down 2% from $62.6 million year-over-year [3] - Operating profit for Q2 2025 was $145.6 million, an 8% increase from $135.4 million in the previous year, with an operating margin of 33% [3] - Non-GAAP operating profit was $161.8 million, a 3% increase from $157.6 million year-over-year, maintaining a non-GAAP operating margin of 36% [3] - The number of monthly active users as of June 2025 was 588 million, with daily active users averaging 261 million [2] Non-Operating Income and Expenses - Non-operating income for Q2 2025 was $12.8 million, compared to $11.4 million in the same period last year [4] - The company incurred income tax expenses of $31.7 million, down from $33.3 million year-over-year [4] - Cash, cash equivalents, and short-term investments totaled $2.11 billion as of June 30, 2025 [5]