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 ...

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。 ...

8月14日消息，中国社交媒体微博股份有限公司，今日公布其截至2025年6月30日止第二季度的未经审计 财务业绩。数据显示，微博2025年第二季度营收4.448亿美元同比增长2%，归属微博股东净利润1.257亿 美元，每股摊薄净收益0.48美元；调整后归属微博股东净利润为1.432亿美元，每股摊薄净收益为0.54美 元。 2025年第二季度业绩概要 • 净收入4.448亿美元，同比增加2%。 • 广告及营销收入3.834亿美元，同比增加2%。 • 增值服务收入6140万美元，同比减少2%或依据固定汇率计算同比减少2%。 • 经营利润1.456亿美元，同比增加8%，经营利润率为33%。 • 归属于微博股东的净利润为1.257亿美元，每股摊薄净收益0.48美元。 • 非公认会计准则经营利润为1.618亿美元，同比增加3%，非公认会计准则经营利润率为36%。 • 2025年6月的日均活跃用户数为2.61亿。 "我们本季度的业绩表现稳健，"微博首席执行官王高飞表示。"在用户产品方面，我们聚焦于社交产品 的整合和推荐体系的升级，致力于提升平台用户活跃度及内容消费体验。在人工智能技术应用方面，微 博智搜用户规模增长强劲，进 ...

经济观察网 8月14日，微博发布2025年第二季度财报。财报显示，微博第二季度净收入4.45亿美元，同 比增加2%；归属于微博股东的净利润为1.26亿美元，每股摊薄净收益0.48美元。2025年6月的月活跃用 户数为5.88亿。 ...