[Management Commentary and Business Highlights](index=1&type=section&id=Management%20Commentary%20and%20Business%20Highlights) Weibo's Q2 2025 performance was driven by strategic user product enhancements, AI integration, and strong advertising monetization - Focused on integrating social products and upgrading the recommendation system to improve user engagement and content consumption[2](index=2&type=chunk) - The user community for AI-powered intelligent search grew robustly, driving an increase in overall user search needs[2](index=2&type=chunk) - The advertising business showed a solid trend, capitalizing on new product launch marketing and demand from the June 18 e-commerce festival[2](index=2&type=chunk)[5](index=5&type=chunk) [Financial Performance Summary](index=1&type=section&id=Financial%20Performance%20Summary) Weibo's Q2 2025 net revenues rose 2% to **$444.8 million**, with improved profitability and a stable user base [Revenue Analysis](index=1&type=section&id=Revenue%20Analysis) Total revenue increased 2% to **$444.8 million**, driven by advertising and marketing, with VAS revenues slightly declining Q2 2025 Revenue Breakdown (YoY) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | **Total Net Revenues** | **$444.8M** | **$437.9M** | **+2%** | | Advertising & Marketing | $383.4M | $375.3M | +2% | | - from Alibaba | $35.7M | $32.4M | +10% | | - ex-Alibaba | $347.6M | $342.9M | +1% | | Value-Added Services (VAS) | $61.4M | $62.6M | -2% | [Profitability Analysis](index=1&type=section&id=Profitability%20Analysis) Profitability improved with GAAP operating income up 8% to **$145.6 million** and net income rising to **$125.7 million** - Total costs and expenses decreased by **1% YoY** to **$299.2 million**, primarily due to reduced general and administrative expenses[7](index=7&type=chunk) Q2 2025 Profitability Metrics (GAAP vs. Non-GAAP) | Metric | Q2 2025 (GAAP) | Q2 2024 (GAAP) | Q2 2025 (Non-GAAP) | Q2 2024 (Non-GAAP) | | :--- | :--- | :--- | :--- | :--- | | Income from Operations | $145.6M | $135.4M | $161.8M | $157.6M | | Operating Margin | 33% | 31% | 36% | 36% | | Net Income (to shareholders) | $125.7M | $111.9M | $143.2M | $126.3M | | Diluted EPS (to shareholders) | $0.48 | $0.43 | $0.54 | $0.48 | [Cash Flow and Balance Sheet](index=1&type=section&id=Cash%20Flow%20and%20Balance%20Sheet) Weibo maintained strong liquidity with **$2.11 billion** in cash and investments, generating **$24.8 million** from operations - Cash, cash equivalents, and short-term investments totaled **$2.11 billion** as of June 30, 2025[11](index=11&type=chunk) Q2 2025 Cash Flow Highlights | Metric | Amount | | :--- | :--- | | Cash provided by operating activities | $24.8 million | | Capital expenditures | $17.6 million | | Depreciation and amortization expenses | $14.8 million | [User Metrics](index=1&type=section&id=User%20Metrics) Weibo's user base remained stable in June 2025, with **588 million MAUs** and **261 million DAUs** User Metrics (June 2025) | Metric | Count | | :--- | :--- | | Monthly Active Users (MAUs) | 588 million | | Average Daily Active Users (DAUs) | 261 million | [Detailed Financial Statements](index=2&type=section&id=Detailed%20Financial%20Statements) This section presents unaudited consolidated financial statements, including operations, balance sheets, and GAAP to non-GAAP reconciliations [Unaudited Condensed Consolidated Statements of Operations](index=2&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2025, net revenues were **$444.8 million**, with income from operations at **$145.6 million** and net income of **$125.7 million** Condensed Consolidated Statements of Operations (Three Months Ended June 30) | (In thousands of U.S. dollars) | 2025 | 2024 | | :--- | :--- | :--- | | **Net revenues** | **$444,798** | **$437,873** | | Total costs and expenses | $299,228 | $302,488 | | **Income from operations** | **$145,570** | **$135,385** | | Net income | $126,698 | $113,537 | | **Net income attributable to Weibo's shareholders** | **$125,685** | **$111,931** | [Unaudited Condensed Consolidated Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were **$6.54 billion**, with liabilities decreasing and shareholders' equity growing to **$3.65 billion** Condensed Consolidated Balance Sheets Highlights | (In thousands of U.S. dollars) | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$6,539,145** | **$6,504,499** | | Cash and cash equivalents | $1,156,292 | $1,890,632 | | Short-term investments | $952,876 | $459,852 | | **Total Liabilities** | **$2,863,437** | **$2,925,613** | | **Total Shareholders' Equity** | **$3,649,891** | **$3,533,783** | [Unaudited Reconciliation of Non-GAAP to GAAP Results](index=3&type=section&id=Unaudited%20Reconciliation%20of%20Non-GAAP%20to%20GAAP%20Results) This section reconciles GAAP to non-GAAP net income, detailing adjustments for stock-based compensation and intangible amortization Reconciliation of GAAP to Non-GAAP Net Income (Three Months Ended June 30) | (In thousands of U.S. dollars) | 2025 | 2024 | | :--- | :--- | :--- | | **Net income attributable to Weibo's shareholders (GAAP)** | **$125,685** | **$111,931** | | Add: Stock-based compensation | $12,019 | $17,207 | | Add: Amortization of intangible assets | $4,161 | $5,011 | | Add: Investment related gain/loss, net | $3,112 | $(245) | | Other adjustments | $(1,747) | $(7,633) | | **Non-GAAP net income attributable to Weibo's shareholders** | **$143,215** | **$126,252** | [Other Information](index=1&type=section&id=Other%20Information) This section provides supplementary details, including conference call logistics, non-GAAP explanations, and forward-looking statements - The company will host a conference call on August 14, 2025, to discuss financial performance and business operations[12](index=12&type=chunk) - The report utilizes non-GAAP financial measures, excluding items like stock-based compensation and intangible asset amortization, to reflect ongoing operating performance[15](index=15&type=chunk)[16](index=16&type=chunk) - The press release contains forward-looking statements protected under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995[23](index=23&type=chunk)

微博(WB.US)盘前涨超4.6%，报10.76美元。消息面上，微博第二季度净收入为4.45亿美元，同比增长 1.58%，高于分析师平均预期的3.97亿美元；经营利润为1.456亿美元，同比增长8%；调整后每股收益为 0.54美元，同比增长12.5%，亦高于预期的0.45美元。(格隆汇) ...

每经AI快讯，8月14日，微博发布2025年第二季度财报，第二季度净营收4.448亿美元，同比增长2%。 ...

Core Viewpoint - Weibo-SW (09898) reported a steady performance in Q2 2025, with a year-on-year increase in net income and net profit, indicating a positive trend in user engagement and advertising revenue [1] Financial Performance - For Q2 2025, Weibo's net income was approximately $445 million, a 2% increase year-on-year [1] - The net profit attributable to Weibo's shareholders was around $126 million, reflecting a 12.29% year-on-year growth [1] - Basic earnings per share were $0.53 for Q2 2025 [1] - In the first half of 2025, net income totaled approximately $842 million, a 0.99% year-on-year increase [1] - The net profit attributable to shareholders for the first half was about $233 million, showing a significant 44.17% year-on-year growth [1] - Basic earnings per share for the first half were $0.98 [1] User Engagement - As of June 2025, Weibo had 588 million monthly active users and 261 million daily active users [1] - The company emphasized its focus on enhancing user engagement through product integration and recommendation system upgrades [1] Business Strategy - The CEO highlighted strong growth in the user base of Weibo Zhisu, which has positively impacted overall user search demand [1] - Weibo's advertising business showed steady performance, supported by its strengths in new product marketing and the ability to capture e-commerce seasonal advertising budgets [1]

Core Viewpoint - Weibo-SW (09898) reported a steady performance in Q2 2025, with a year-on-year increase in net income and net profit, driven by user engagement and advertising business growth [1] Financial Performance - Q2 2025 net income was approximately $445 million, a 2% increase year-on-year [1] - Net profit attributable to Weibo shareholders was about $126 million, reflecting a 12.29% year-on-year growth [1] - Basic earnings per share were $0.53 [1] - For the first half of 2025, net income reached approximately $842 million, a 0.99% year-on-year increase [1] - Net profit attributable to Weibo shareholders for the first half was around $233 million, showing a 44.17% year-on-year growth [1] - Basic earnings per share for the first half were $0.98 [1] User Engagement - As of June 2025, Weibo had 588 million monthly active users and 261 million daily active users [1] - The company focused on integrating social products and upgrading recommendation systems to enhance user engagement and content consumption experience [1] Technology and Commercialization - Weibo's AI application, Weibo Zhisu, saw strong user growth, further driving overall user search demand [1] - The advertising business showed steady performance, supported by the company's strengths in new product launch marketing and capturing e-commerce seasonal advertising budgets [1]

2025年6月的月活跃用户数为5.88亿。2025年6月的日均活跃用户数为2.61亿。 格隆汇8月14日丨微博-SW(09898.HK)公布，2025年第二季度，公司净收入444.8百万美元，同比增加 2%，或依据固定汇率计算同比增加1%。经营利润145.6百万美元，同比增加8%，经营利润率为33%。 归属于微博股东的净利润为125.7百万美元，每股摊薄净收益0.48美元。非公认会计准则经营利润为 161.8百万美元，同比增加3%，非公认会计准则经营利润率为36%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Weibo Corporation 微博股份有限公司 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9898） 2025年第二季度及中期財務業績公告 我們謹此發佈我們截至第二季度及2025年6月30日止六個月的未經審計財務業績 （「2025年第二季度及中期財務業績」）。2025年第二季度及中期財務業績乃根據香 港聯合交易所有限公司證券上市規則（「《香港上市規則》」）第13.48(1)條作為我們 截至2025年6月30日止六個月的中期報告向股東提供。 2025年第二季度及中期財務業績可於香港聯合交易所有限公司網站www.hkexnews.hk 及本公司網站 http://ir.weibo.com查閱。 承董事會命 微博股份有限公司 董事會主席 曹國偉先生 香港，2025年8月14日 於本公告日期，本公司董事會包括董事曹國偉先生、王高飛先生、杜紅女士及劉 博先生以及獨立董事盧伯卿先生、陳丕 ...

Core Insights - The presence of ACG (Anime, Comic, Game) culture remains strong during the summer, with notable box office predictions for domestic animations and games [1] - The number of comic conventions in China has surged, with over 1,000 events expected in May alone, indicating a significant growth in the ACG market [2] - The user base for the broader ACG community in China is projected to grow from 210 million in 2017 to 526 million by 2025, with the market size for ACG-related products expected to reach 652.1 billion yuan [2] Industry Trends - Major players like Weibo and Xiaohongshu are entering the ACG space, with Xiaohongshu's RED LAND event attracting nearly 300,000 participants [2][3] - The RED LAND event features an open-world adventure concept and aims to engage younger audiences, although it lacks the depth of experience seen in established conventions [3][4] - The growth of female users in the ACG community is notable, with women making up 48% of online game users by mid-2025, reflecting a shift in demographics [6] Market Dynamics - Traditional conventions like BW and CJ are adapting to include both consumer and business elements, with significant attendance numbers reported [7] - The rise of comic conventions in smaller cities is evident, with events in places like Zhejiang seeing over half of the conventions held in county-level cities [12][13] - The economic impact of these conventions is substantial, with local businesses reporting increased sales during event periods [12] Challenges and Opportunities - Despite the growth, challenges remain in terms of user engagement and the quality of experiences offered at smaller conventions [4][13] - The potential for further development in the ACG market is significant, with a growing user base and increasing interest in ACG culture across various demographics [14]

演员赵露思再陷舆论风波。 8月13日，"赵露思，苹果汁价格"、"赵露思陷假助农风波"等多条相关话题登上微博热搜。针对其助农问题，涉事公司所在地的市场监管部门被曝将介入 调查。 8月13日晚，赵露思发微博表示真的是助农，并表示将注销微博。 记者询问前面的工作人员为什么说这个章和证是假的，工作人员则表示：当时媒体咨询的是给赵露思发过没，那肯定是假的，我们只是给企业发过。因为 它（公司）在我们这做了一些公益活动。 1罐苹果汁约12元 有网友发现，13日，该品牌的关联公司延安小小的果实农业科技有限公司（以下简称：小小的果实）在其社交平台发布了一张"助农大使"证书——图片显 示，该证书由陕西省延长县农业农村局发出，显示该公司在延安助农工作中表现突出。发证时间为2025年6月。 13日，有媒体报道，该证书涉嫌造假，公章是假的。 据红星新闻报道，记者13日下午联系到延长县农业农村局，一名工作人员在电话中表示正在核实证书上公章的编号以及证书真实性，并称会在互联网上进 行统一回复。 随后，记者发现，发布在该社交平台上的"助农大使"证书，已经被删除。 小小的果实社交平台账号发出的"助农大使"证书，目前该图片已删除 13日晚间，延 ...

8月13日晚，赵露思发微博表示真的是助农，并表示将注销微博。 每经编辑｜何小桃 演员赵露思再陷舆论风波。 官方称助农大使称号证书是真的 8月13日，"赵露思，苹果汁价格"、"赵露思陷假助农风波"等多条相关话题登上微博热搜。针对其助农问题，涉事公司所在地的市场监管部门被曝将介入 调查。 此前，赵露思在直播中多次分享一款名为Aaaaapple品牌的苹果干和苹果汁。 有网友发现，13日，该品牌的关联公司延安小小的果实农业科技有限公司（以下简称：小小的果实）在其社交平台发布了一张"助农大使"证书——图片显 示，该证书由陕西省延长县农业农村局发出，显示该公司在延安助农工作中表现突出。发证时间为2025年6月。 13日，有媒体报道，该证书涉嫌造假，公章是假的。 据报道，赵露思团队以正常市场价格收购了陕西地区4000余户果农手中因冰雹灾害导致外观受损而滞销的600吨苹果，加工成果汁、果干后通过自己的品 牌出售。 据智通财经报道，记者查询某电商平台发现，该款品牌的苹果汁12罐238ml的价格为147.9元，1罐约为12元。 据红星新闻报道，记者13日下午联系到延长县农业农村局，一名工作人员在电话中表示正在核实证书上公章的编号 ...