Financial Performance - Net revenue for Q3 2022 was $453.6 million, a decrease of 25% year-over-year, and a 20% decrease when calculated at fixed exchange rates[3] - Advertising and marketing revenue was $393.4 million, down 27% year-over-year, primarily due to weak advertising demand and the impact of COVID-19 in China[4] - Total net revenue for the three months ended September 30, 2022, was $453.56 million, a decrease from $607.43 million in the same period of 2021, representing a decline of approximately 25.3%[11] - Advertising and marketing services accounted for $393.43 million of net revenue, down from $537.62 million year-over-year, reflecting a decrease of about 26.8%[11] - The company reported a net loss attributable to shareholders of $17.1 million for Q3 2022, compared to a net profit of $181.7 million in the same period last year[4] - Weibo's net loss attributable to shareholders was $(17,137) thousand for the three months ended September 30, 2022, compared to a profit of $181,738 thousand for the same period in 2021[16] - The company reported a non-GAAP operating profit of $162,105 thousand for Q3 2022, down from $248,704 thousand in Q3 2021[16] - Non-GAAP net profit attributable to shareholders was $119 million, with diluted earnings per share of $0.50[4] - Adjusted EBITDA for the three months ended September 30, 2022, was $144,744 thousand, down from $255,255 thousand year-over-year[17] - The adjusted net profit attributable to Weibo shareholders for the nine months ended September 30, 2022, was $361,559 thousand, down from $523,030 thousand in the same period of 2021[17] User Engagement - Monthly active users reached 584 million in September 2022, with a net increase of approximately 11 million users year-over-year[3] - Daily active users averaged 253 million in September 2022, with a net increase of approximately 5 million users year-over-year[3] Operating Costs and Expenses - Operating profit for Q3 2022 was $123.2 million, with an operating margin of 27%, down from 35% in the same period last year[4] - Operating profit for the three months ended September 30, 2022, was $123.21 million, compared to $213.05 million in the same period of 2021, indicating a decline of approximately 42.1%[11] - Total costs and expenses for the three months ended September 30, 2022, were $330.35 million, down from $394.39 million in the same period of 2021, a decrease of about 16.2%[11] - Operating costs increased to $2,544 million in Q3 2022 from $2,450 million in Q3 2021, while sales and marketing expenses rose to $5,107 million from $4,700 million[12] Cash and Investments - Cash, cash equivalents, and short-term investments totaled $3 billion as of September 30, 2022[5] - Cash and cash equivalents totaled $2,758,901 thousand as of September 30, 2022, compared to $2,423,703 thousand as of December 31, 2021[14] - The company has authorized a stock repurchase plan of up to $500 million, with approximately 3.1 million ADS repurchased at a total cost of $57.7 million as of September 30, 2022[6] Assets and Liabilities - The total assets of Weibo decreased to $6,827,630 thousand as of September 30, 2022, down from $7,519,522 thousand as of December 31, 2021[14] - Weibo's total liabilities decreased to $3,522,442 thousand as of September 30, 2022, compared to $3,831,502 thousand as of December 31, 2021[15] - Weibo's total equity attributable to shareholders decreased to $3,214,804 thousand as of September 30, 2022, from $3,593,821 thousand as of December 31, 2021[15] Strategic Focus and Risks - The company emphasized a "mobile-first" approach, enhancing its social interest graph recommendation engine to improve targeted marketing effectiveness[9] - Weibo's revenue is primarily derived from advertising and marketing services, which are crucial for its financial performance[9] - The company faces risks including regulatory uncertainties in China and competition in advertising and marketing expenditures[10] - The company is focused on expanding its user base and engagement to drive future growth despite current challenges[10] Earnings Per Share - Weibo reported a basic net loss per share of $(0.07) for the three months ended September 30, 2022, compared to a profit of $0.79 for the same period in 2021[12] - The diluted net loss per share attributable to Weibo shareholders was $(0.07) for Q3 2022, compared to $0.78 for Q3 2021[12] - The number of diluted shares used to calculate GAAP net loss per share attributable to Weibo shareholders was 235,894 thousand for the three months ended September 30, 2022, compared to 237,183 thousand for the same period in 2021[17]

Financial Performance - For Q2 2022, Weibo reported net revenue of $450.2 million, a decrease of 22% year-over-year, and a 19% decline when adjusted for fixed exchange rates[4]. - Advertising and marketing revenue was $385.6 million, down 23% year-over-year, primarily due to the resurgence of COVID-19 and macroeconomic uncertainties affecting the advertising industry in China[5]. - Operating profit for Q2 2022 was $93.9 million, with an operating margin of 21%, down from 34% in the same period last year[5]. - Non-GAAP operating profit was $145.3 million, with a non-GAAP operating margin of 32%, compared to 39% in the previous year[5]. - Net profit attributable to Weibo shareholders was $28.3 million, translating to diluted earnings per share of $0.12, down from $81 million and $0.35 per share year-over-year[5]. - The company reported a total cost and expenses of $356.2 million, a decrease of 7% year-over-year, mainly due to a 25% reduction in sales and marketing expenses[5]. - Net revenue for the second quarter of 2022 was $450.15 million, a decrease of 21.7% compared to $574.47 million in the same period of 2021[12]. - Operating profit for the second quarter of 2022 was $93.94 million, down 51.4% from $193.24 million in the same quarter of 2021[12]. - The total cost and expenses for the second quarter of 2022 amounted to $356.21 million, a decrease of 6.6% from $381.23 million in the same quarter of 2021[12]. - The net profit attributable to Weibo shareholders for the second quarter of 2022 was $28.30 million, a decline of 65.1% from $81.03 million in the same period of 2021[12]. - Basic and diluted earnings per share attributable to Weibo shareholders were both $0.12 for the second quarter of 2022, compared to $0.36 in the same quarter of 2021[13]. - Adjusted EBITDA for Q2 2022 was $132,911, down 42.7% from $232,423 in Q2 2021[17]. - The adjusted net profit attributable to Weibo shareholders for Q2 2022 was $109,695, down 40% from $182,805 in Q2 2021[17]. User Engagement - Monthly active users reached 582 million in June 2022, with a net increase of approximately 16 million users year-over-year, and mobile users accounted for 95% of total monthly active users[4]. - Daily active users averaged 252 million in June 2022, with a net increase of approximately 7 million users year-over-year[4]. - The company emphasizes the importance of user engagement and expanding its active user base for future growth[11]. Financial Metrics and Reporting - The company uses non-GAAP financial metrics to reflect ongoing operational performance, allowing for meaningful comparisons over periods[9]. - Non-GAAP metrics include operating profit, net profit attributable to shareholders, diluted earnings per share, and adjusted EBITDA, excluding certain costs and non-cash items[9]. - The company reported a total of 235.52 million basic shares used for calculating earnings per share for the second quarter of 2022, compared to 228.10 million in the same quarter of 2021[13]. - The number of diluted shares used for calculating non-GAAP earnings per share was 243,778 for Q2 2022, an increase from 236,308 in Q2 2021[17]. Cash and Assets - As of June 30, 2022, Weibo had cash, cash equivalents, and short-term investments totaling $3 billion[6]. - Total assets as of June 30, 2022, were $7.20 billion, down from $7.52 billion as of December 31, 2021[15]. - Total liabilities as of June 30, 2022, were $3.67 billion, a decrease from $3.83 billion as of December 31, 2021[14]. - Cash and cash equivalents as of June 30, 2022, were $2.34 billion, down from $2.42 billion as of December 31, 2021[15]. Strategic Initiatives - Weibo's primary revenue source comes from advertising and marketing services, with a focus on mobile-first solutions and native advertising[10]. - The company has developed a social interest graph recommendation engine to enhance targeted marketing based on user demographics and behavior[10]. - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[16]. Risks and Uncertainties - Forward-looking statements regarding financial performance and operational plans are subject to inherent risks and uncertainties[11]. - Key risks include limited operating history in new businesses, regulatory uncertainties in China, and reliance on advertising revenue[11]. - Weibo's financial performance may be affected by macroeconomic conditions, including currency depreciation and global economic uncertainties[11]. - The company does not undertake an obligation to update the information provided in the press release unless required by law[11]. ESG Reporting - Weibo released its first Environmental, Social, and Governance (ESG) report in August 2022, detailing its initiatives and performance in these areas[7]. Conference Call - The management team will hold a conference call on September 1, 2022, to report on the company's financial and operational performance[8].

Financial Performance - Net revenue for Q1 2022 was $484.6 million, a 6% increase year-over-year, and a 3% increase when calculated at fixed exchange rates[3]. - Advertising and marketing revenue reached $427.1 million, reflecting a 10% year-over-year growth[4]. - Value-added services revenue declined to $57.5 million, a 17% decrease compared to the same period last year[4]. - Total net revenue for the three months ended March 31, 2022, was $484.6 million, a decrease from $616.3 million in the same period of 2021[22]. - Total costs and expenses for Q1 2022 were $381.8 million, a 9% increase year-over-year[4]. - Operating profit for Q1 2022 was $102.8 million, with an operating profit margin of 21%[4]. - Operating profit for Q1 2022 was $102.849 million, down from $108.604 million in Q1 2021, indicating a decline of 5.2%[12]. - The company reported a net loss attributable to Weibo shareholders of $67.524 million for Q1 2022, compared to a profit of $49.820 million in Q1 2021[12]. - Non-GAAP net profit attributable to Weibo was $132.9 million, with a diluted net profit per share of $0.56[5]. - Non-GAAP net income attributable to Weibo shareholders for the three months ended March 31, 2022, was $132.9 million, compared to $130.7 million for the same period in 2021[19]. User Engagement - Monthly active users in March 2022 were 582 million, with a net increase of approximately 51 million users year-over-year[3]. - Daily active users in March 2022 averaged 252 million, with a net increase of approximately 22 million users year-over-year[3]. Cash and Assets - Cash, cash equivalents, and short-term investments totaled $3.3 billion as of March 31, 2022[6]. - Cash and cash equivalents as of March 31, 2022, were $2.50 billion, an increase from $2.42 billion as of December 31, 2021[18]. - The total assets as of March 31, 2022, were $7.47 billion, compared to $7.52 billion as of December 31, 2021[18]. - The total liabilities as of March 31, 2022, amounted to $3.81 billion, slightly down from $3.83 billion as of December 31, 2021[16]. - The total equity attributable to Weibo shareholders as of March 31, 2022, was $3.56 billion, down from $3.59 billion as of December 31, 2021[16]. Expenses and Losses - Total costs and expenses for Q1 2022 were $381.773 million, an increase from $350.292 million in Q1 2021, representing an increase of 9.4%[12]. - The company reported a significant increase in product development expenses, totaling $13.3 million for the three months ended March 31, 2022, compared to $8.1 million in the same period of 2021[13]. - Non-operating losses, including investment impairment and changes in fair value, amounted to $177.950 million in Q1 2022, significantly higher than $58.200 million in Q1 2021[12]. Management Insights - The company’s adjusted EBITDA was not disclosed in the provided data, but it is noted that adjusted EBITDA excludes interest income, income tax expenses, and depreciation[9]. - Weibo's management emphasizes the importance of non-GAAP financial metrics for assessing ongoing performance and making meaningful comparisons over time[9]. - The company expects to continue focusing on expanding its advertising revenue and enhancing user engagement in the upcoming quarters[22]. Market Challenges - Weibo faces risks including regulatory uncertainties in China, competition in advertising and marketing, and challenges in expanding its active user base[11].

Share Structure and Voting Rights - As of January 31, 2022, the total number of Class B ordinary shares held by different voting rights beneficiaries is 94,825,338, representing approximately 66.7% of the voting power for shareholder voting matters[3]. - The total number of ordinary shares outstanding as of December 31, 2021, is 236,553,460, which includes 140,274,502 Class A ordinary shares and 96,278,958 Class B ordinary shares[8]. - Each Class B ordinary share can be converted into one Class A ordinary share, which would result in the issuance of 94,825,338 Class A ordinary shares, approximately 66.9% of the total Class A ordinary shares outstanding as of January 31, 2022[3]. - If the total number of Class B ordinary shares held by Sina and its affiliates falls below 5%, each Class B ordinary share will automatically convert into one Class A ordinary share[4]. - The company operates under a dual-class share structure, where Class A shares have one vote per share and Class B shares have three votes per share[2]. - The company emphasizes the potential risks associated with investing in companies with different voting rights structures, as the interests of different voting rights beneficiaries may not always align with those of other shareholders[4]. Financial Performance - Total revenue for the year was $1.8 billion, a 20% increase from the previous year[13]. - Advertising revenue accounted for approximately 80% of total revenue, amounting to $1.44 billion, up 22% year-over-year[13]. - Weibo Corporation reported an increase in daily active users (DAUs) to 241 million, representing a year-over-year growth of 5%[11]. - The average monthly active users (MAUs) reached 550 million, showing a 3% increase compared to the previous year[12]. - The company expects revenue growth to continue in the next fiscal year, projecting a 15-20% increase[13]. - Weibo's management emphasized the importance of regulatory compliance and adapting to changing market conditions in China[13]. User Engagement and Growth - The company faces significant risks related to user growth and engagement, which could adversely affect its financial performance[49]. - The majority of the company's revenue is generated from online advertising and marketing services, making it vulnerable to fluctuations in this area[49]. - The company has implemented various initiatives to stimulate user engagement, including features like hot topics, search, short videos, live streaming, and interest feeds[56]. - The success of the platform relies on the ability to provide interesting and useful content, which depends on contributions from users and platform partners[57]. - The company acknowledges that the effectiveness of its strategies to enhance user engagement may not be guaranteed[56]. Regulatory and Compliance Risks - The company faces various legal and operational risks related to complex and changing Chinese regulations, including those concerning foreign investment and cybersecurity[18]. - The Chinese government has significant power to regulate operations and foreign investments, which may severely restrict the company's ability to issue securities[19]. - The company is subject to uncertainties regarding the interpretation and application of current and future Chinese laws affecting its VIE structure[19]. - The company is actively communicating with regulatory authorities regarding the application for necessary licenses, including the internet broadcasting license, which may impact future operations[23]. - The company has not received any approvals or rejections from Chinese authorities regarding the issuance of securities to foreign investors as of the report date[23]. Variable Interest Entities (VIEs) - The company operates through contractual arrangements with VIEs and their subsidiaries in China due to restrictions on foreign ownership in internet-related businesses[16]. - There are significant risks associated with the contractual arrangements with VIEs, including potential penalties or loss of rights if found non-compliant with Chinese laws[17]. - The company does not directly own the equity of its VIEs, which may limit operational control compared to direct ownership[16]. - The company’s American Depositary Shares (ADS) do not represent ownership in the Chinese operating entities but rather in the Cayman Islands holding company[16]. - The company may incur substantial costs to enforce the terms of the contractual arrangements with VIEs[16]. Financial Position and Assets - Total assets amounted to $7,519,522, with significant contributions from cash and cash equivalents of $2,423,703 and short-term investments of $711,062[37]. - The total liabilities reached $3,831,502, with convertible bonds at $896,541 and unsecured senior notes at $1,538,415[37]. - Shareholders' equity totaled $3,621,398, reflecting a strong capital position despite a decrease in equity from variable interest entities[37]. - The company has made substantial investments in long-term assets, with total long-term investments amounting to $1,207,651[37]. Competition and Market Challenges - The competition for user traffic and engagement is intense, with major competitors like Tencent and ByteDance directly competing for resources, content, and user attention[59]. - The company faces significant competition in advertising and marketing spending from major competitors like Tencent, ByteDance, Baidu, and others, which could adversely affect its business and operational performance[67]. - The overall revenue growth may slow down due to intensified competition in the smartphone market and potential disruptions from economic factors such as the pandemic or geopolitical changes[61]. Data Privacy and Security - The company collects user personal data to better understand user needs and assist clients in identifying specific target audiences[82]. - The company has taken steps to comply with existing data protection laws and regulations, including completing self-inspection and correction work as part of a 2021 special rectification action[86]. - The company faces legal and regulatory risks related to potential misuse of user data by third parties, which could severely damage its business[82]. - The company has invested substantial resources in technology and product development to prevent user data leaks and other security vulnerabilities[82]. Strategic Partnerships and Collaborations - The company has initiated strategic collaborations with various brands to boost advertising effectiveness and reach[13]. - Alibaba remains the largest customer and strategic partner, contributing a significant portion of the company's revenue, although its share has decreased over the years[71]. - The company relies on partnerships with app pre-installation partners and programmatic buying partners for user acquisition and activation, which may be adversely affected by a slowdown in the smartphone market and shipment growth in China[58]. Future Outlook and Strategic Plans - The company plans to invest in new technologies and product development to enhance user engagement and monetization strategies[13]. - Weibo aims to expand its market presence by targeting younger demographics and increasing partnerships with content creators[13]. - The company is exploring new business initiatives and models, which may involve significant time and resource investments, and could face operational and compliance challenges[61].