Exhibit 99.1 Weibo Reports Second Quarter 2023 Unaudited Financial Results BEIJING, China – August 24, 2023 – Weibo Corporation (“Weibo” or the “Company”) (NASDAQ: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the second quarter ended June 30, 2023. “We are pleased with the recovery of our business and improvement of our operating efficiency this quarter,” said Gaofei Wang, CEO of Weibo. “During this quarter, our user community experienced continuou ...

Financial Data and Key Metrics Changes - Weibo's total revenues for Q1 2023 were $413.8 million, a decrease of 15% year-over-year or 7% on a constant currency basis [22][6] - Total advertising revenues reached $355.3 million, with mobile ad revenues contributing approximately 95% [5][23] - Non-GAAP operating income was $128.6 million, representing a non-GAAP operating margin of 31% [6][28] - Net income attributable to Weibo was $111.2 million, with a net margin of 27% [22][28] - Diluted EPS was $0.47 compared to $0.56 last year [22] Business Line Data and Key Metrics Changes - Non-ad revenues increased by 2% year-over-year to $58.5 million, or 10% on a constant currency basis [6][27] - The average daily active users (DAUs) reached 255 million, with a net addition of 3 million users year-over-year [5][21] - The average monthly active users (MAUs) reached 593 million, adding approximately 11 million users year-over-year [5][21] Market Data and Key Metrics Changes - The advertising market showed a gradual recovery post-pandemic, with certain sectors like automotive and luxury goods demonstrating strong confidence and increased investment [18][20] - The number of new car releases in the automotive sector increased by 40% compared to the same period last year [18] - The luxury goods sector saw a significant number of shows, achieving nearly 90% coverage of business cooperation in Q1 [18] Company Strategy and Development Direction - Weibo's strategy focuses on user scale growth and improving operating efficiency to enhance traffic growth and strengthen competitive advantage [7][16] - The company aims to optimize product mechanisms and algorithms to enhance user engagement and content consumption [9][10] - Investment in key content verticals is prioritized to meet changing user demands, particularly in entertainment, digital, and automotive sectors [11][12] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising demand was relatively low due to macro uncertainties and seasonal factors, but a recovery is expected as offline consumption picks up [5][20] - The company anticipates a more meaningful recovery in advertising demand in the second half of the year, driven by ongoing recovery in various consumer markets [20] - Management expressed confidence in the gradual recovery of the advertising business, particularly in sectors like automotive and e-commerce [39][41] Other Important Information - Weibo announced a total cash dividend of approximately $200 million, reflecting its commitment to returning value to shareholders [29][30] - The company is exploring applications for AITC technology to enhance content creation efficiency and improve operational capabilities [15][36] Q&A Session Summary Question: Can you elaborate more on your plan for the AITC area? - Management discussed the application of AITC in enhancing content creation efficiency for top media accounts and optimizing content generation for long-tail accounts [32][33] Question: What is the outlook for the advertising market recovery? - Management indicated that while Q1 showed weak growth due to seasonal factors, there has been a positive trend since March, with expectations for stronger growth in Q2 [39][40] Question: What is the margin outlook for this year? - Management expects stable development in margins with a slight increase, supported by cost reduction initiatives and a focus on operational efficiency [50][51]

[0 -> 18] Good day and thank you for standing by. Welcome to the WIBO Reports First Quarter 2023 Financial [18 -> 24] Results. At this time, all participants are in a listen-only mode. After the speaker's [24 -> 29] presentation, there will be a question and answer session. To ask a question during the [29 -> 33] session, you will need to press star 1 and 1 on your telephone. You will then hear an [33 -> 39] automated message advising your hand is raised. To withdraw your question, please press star [39 -> ...

Financial Performance - Net revenue for Q1 2023 was $413.8 million, a decrease of 15% year-over-year, and a 7% decrease when adjusted for fixed exchange rates[3]. - Advertising and marketing revenue was $355.3 million, down 17% year-over-year, while value-added services revenue increased by 2% to $58.5 million[4]. - The company reported a net profit attributable to Weibo shareholders of $100.5 million, compared to a net loss of $67.5 million in the same period last year[5]. - Operating profit for Q1 2023 was $96.5 million, with an operating margin of 23%, compared to 21% in the same period last year[4]. - Non-GAAP operating profit was $128.6 million, with a non-GAAP operating margin of 31%, up from 29% year-over-year[4]. - Total revenue for the quarter ending March 31, 2023, was $413.778 million, down from $484.622 million in the same quarter of the previous year, representing a decrease of approximately 14.6%[22]. - Adjusted EBITDA for Q1 2023 was $133,744 thousand, down from $153,088 thousand in Q1 2022, indicating a decline of approximately 12.6%[20]. User Metrics - Monthly active users reached 593 million in March 2023, with a net increase of approximately 11 million users year-over-year[3]. Cash and Investments - Cash, cash equivalents, and short-term investments totaled $2.8 billion as of March 31, 2023[5]. - The company’s cash and cash equivalents decreased from $2,690,768 thousand as of December 31, 2022, to $2,284,216 thousand as of March 31, 2023[17]. Dividends and Shareholder Returns - The board approved a special cash dividend of $0.85 per share, totaling approximately $200 million, to be paid on or around July 19, 2023[6]. Costs and Expenses - The total costs and expenses for the three months ended March 31, 2023, were $317.3 million, compared to $484.6 million for the same period in 2022[14]. - Operating costs increased from $2,337 million in Q1 2022 to $2,536 million in Q1 2023, reflecting a rise of 8.4%[15]. - The total assets decreased from $7,129,454 thousand as of December 31, 2022, to $7,014,237 thousand as of March 31, 2023[17]. - The total liabilities decreased from $3,738,914 thousand as of December 31, 2022, to $3,539,622 thousand as of March 31, 2023[18]. Management and Strategy - The company aims to enhance monetization potential by focusing on resilient industries and growth opportunities amid economic challenges[2]. - The management team held a conference call on May 25, 2023, to discuss the financial and operational overview of the company[8]. - The company continues to focus on mobile-first advertising solutions and has developed a social interest graph recommendation engine to enhance marketing effectiveness[12]. - Weibo's management believes that non-GAAP financial measures provide useful information for assessing the company's ongoing performance[10]. Risks and Challenges - The company faces risks including regulatory uncertainties in China and competition in the advertising market[13]. - Weibo's financial performance is subject to fluctuations, and the company has acknowledged the impact of macroeconomic conditions on its operations[13]. Share Performance - The basic net loss per share attributable to Weibo shareholders was $(0.29) for March 31, 2022, improved to $0.43 by March 31, 2023[15]. - The company reported a total of 236,895 diluted shares used for calculating net loss per share attributable to Weibo shareholders for Q1 2023[20]. Product Development - The company plans to continue focusing on product development, with product development expenses rising from $13,336 thousand in Q1 2022 to $13,800 thousand in Q1 2023[15].

Share Structure and Ownership - As of March 31, 2023, the number of Class B ordinary shares held by different voting rights beneficiaries is 87,822,024, representing approximately 64.1% of the voting power for all shareholder voting matters [3]. - If all issued and outstanding Class B ordinary shares are converted into Class A ordinary shares, the company will issue 87,822,024 Class A ordinary shares, which is about 59.6% of the total number of Class A ordinary shares outstanding as of March 31, 2023 [4]. - The company has a total of 234,186,394 ordinary shares outstanding as of December 31, 2022, which includes 139,361,056 Class A ordinary shares and 94,825,338 Class B ordinary shares [17]. User Engagement and Growth - Weibo Corporation reported an increase in daily active users (DAUs) to 241 million, representing a year-over-year growth of 5% [23]. - The average monthly active users (MAUs) reached 573 million, showing a 3% increase compared to the previous year [25]. - As of December 2022, the monthly active users reached 586 million, with an average daily active user count of 252 million [94]. - The company anticipates a slowdown in user growth rate over time due to increased market penetration in China's internet population [94]. - The company has implemented various features such as hot topics, search, short videos, and live streaming to stimulate user engagement and growth [96]. Financial Performance - Total revenue for the year was $1.8 billion, a decrease of 6% from the previous year [26]. - Advertising revenue accounted for approximately 80% of total revenue, amounting to $1.44 billion, down 8% year-over-year [26]. - Weibo's operating margin for the year was reported at 30%, a slight decline from 32% in the previous year [26]. - The company has set a revenue guidance of $1.7 billion to $1.9 billion for the next fiscal year, indicating a potential recovery in user engagement [26]. - The net profit attributable to shareholders of the company for the year ended December 31, 2022, was $85.6 million [66]. Regulatory and Legal Risks - The company operates through a complex structure involving VIEs due to restrictions on foreign ownership in the internet sector in China [30]. - There are significant uncertainties regarding the interpretation and application of current and future Chinese laws affecting the VIE structure [35]. - The company faces various legal and operational risks related to the complex and changing regulatory environment in China [36]. - The company is subject to potential penalties or loss of rights if the VIE structure is deemed non-compliant with Chinese regulations [34]. - The company faces significant regulatory risks from the Chinese government, which may severely limit or completely obstruct its ability to sell securities to investors [38]. Investment and Strategic Initiatives - The company plans to enhance its content creator ecosystem, targeting a 10% increase in the number of top content creators by the end of the next fiscal year [26]. - Weibo Corporation aims to expand its market presence in Southeast Asia, with a projected investment of $50 million over the next two years [26]. - The company is focusing on developing new technologies, including AI-driven content recommendations, with an expected launch in Q3 2023 [26]. - The company plans to apply for the Internet Audio-Visual Program Service License, which it currently does not qualify for under existing laws [49]. - The company is actively investing significant resources to expand its user base, increase user engagement, and develop new features and products, which may lead to high costs if market conditions change or demand forecasts are incorrect [133]. Competition and Market Challenges - The company faces intense competition for user traffic and engagement from major internet companies like Tencent and ByteDance, as well as traditional media [104]. - The company is competing with both online and offline gaming for user time and spending, as well as with e-commerce platforms for business solutions [105]. - The effectiveness of the company's channel partnerships is critical for driving traffic to its platform, and any decline in these partnerships could negatively impact business performance [87]. - The company faces significant competition in advertising and marketing expenditures, primarily from Tencent, ByteDance, Baidu, Kuaishou, Xiaohongshu, Bilibili, and iQIYI, which could adversely affect its business and operating performance [118]. Financial Obligations and Debt Management - The company issued $900 million of convertible senior notes due in 2022, with a 1.25% annual interest rate, and repaid $899.99 million upon maturity [178]. - The company also issued $800 million of senior notes due in 2024, with a 3.50% annual interest rate, which will mature on July 5, 2024 [178]. - The company may require additional funding but may not be able to obtain financing on acceptable terms, potentially leading to further dilution of shareholder equity [186]. - The ability to manage business operations and generate sufficient cash flow is critical for meeting debt obligations [182]. Data Security and Privacy Concerns - The company has invested significant resources in technology and product development to prevent user data leaks and security vulnerabilities [141]. - Privacy issues related to user data collection and management could negatively impact the company's reputation and lead to user attrition, affecting overall business performance [140]. - The company faced a data breach incident in March 2020, leading to regulatory meetings and mandated improvements in data security practices [145]. - New data protection laws and regulations may lead to substantial costs and require significant changes to business practices [148]. Content and User Experience - The company relies on user-generated content, and a lack of valuable contributions from users and partners could lead to decreased user traffic and engagement [87]. - The introduction of promotional marketing in user feeds may negatively affect user experience and lead to a decline in user engagement [166]. - Spam content on the platform may degrade user experience and harm the company's reputation, potentially leading to decreased user engagement and increased operational costs [137]. - The company has faced challenges with user complaints regarding promotional products, which could delay monetization efforts [166]. Intellectual Property and Compliance - The company faces significant risks related to potential third-party intellectual property infringement claims, which could adversely affect its business, financial condition, and outlook [191]. - The effectiveness and enforceability of intellectual property rights in the Chinese internet sector remain uncertain, increasing the risk of infringement claims [191]. - The company has received notifications from copyright holders claiming that user-generated content infringes their intellectual property, which could result in costly legal actions [192]. - Any successful claims against the company could result in substantial damages, impacting its financial condition and operational performance [192].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Exhibit 99.1 Reconciliation between U.S. GAAP and International Financial Reporting Standards The consolidated financial statements are prepared in accordance with U.S. GAAP, which differ in certain respects from International Financial Reporting Standards (“IFRS”). The effects of material differences between the consolidated financial statements of the Group prepared under U.S. GAAP and IFRS are as follows: Reconciliation of consolidated statements of comprehensive income data (in US$ thousands): For the Y ...

Financial Data and Key Metrics Changes - In Q4 2022, total revenue reached $448 million, a decrease of 27% year-over-year and 1% quarter-over-quarter [6][30] - Advertising and marketing revenues were $390.5 million, with mobile contributing 94% of total revenue [7][31] - Non-GAAP operating income was $152 million, representing a non-GAAP operating margin of 34% [7][30] - For full-year 2022, total revenue was $1.84 billion, a decrease of 19% year-over-year [7][30] - Non-GAAP net income attributable to Weibo was $540.1 million, with a net margin of 29% [30][38] Business Line Data and Key Metrics Changes - Advertising and marketing revenue for full-year 2022 was $1.6 billion, a decrease of 19% year-over-year [7][31] - Value-added service (VAS) revenues in Q4 were $57.5 million, a decrease of 12% year-over-year [35] - The number of video accounts and effective video views grew double-digit year-over-year, with effective use of video feed increasing over 50% year-over-year [14] Market Data and Key Metrics Changes - In December 2022, Weibo's MAUs reached 586 million, with a net addition of approximately 13 million users year-over-year [8][29] - Average DAUs reached 252 million, with a net addition of approximately 3 million users year-over-year [8][29] - The advertising revenue from the automobile industry showed year-over-year growth, benefiting from better recognition of new car launches [21][32] Company Strategy and Development Direction - The company plans to focus on user growth, operational efficiency, and strengthening core competitiveness in 2023 [19][28] - Emphasis on enhancing marketing capabilities for top KOLs and improving monetization strategies for content creators [17][28] - Continued investment in hot trends and entertainment verticals to drive user engagement and traffic growth [18][19] Management Comments on Operating Environment and Future Outlook - Management noted that the advertising market faced challenges due to macroeconomic conditions and COVID disruptions, but expressed optimism for recovery in 2023 [26][35] - The company anticipates a gradual recovery in advertising demand, particularly in the automobile and luxury sectors [27][35] - Management highlighted the importance of operational efficiency and cost control measures implemented in 2022 to stabilize earnings [36][52] Other Important Information - The company achieved a significant increase in ad revenue during the World Cup season, surpassing that of the Beijing Winter Olympics [21] - The annual GMV for the aesthetic medicine e-commerce business on Weibo doubled from the previous year, indicating potential for future growth in e-commerce [24] Q&A Session Summary Question: Can management share more detailed color around the monthly trend of ad revenue recovery and year-on-year growth trend? - Management indicated that Q4 faced negative impacts from political issues and COVID, affecting operations and customer budgets. They expect a clearer evaluation of recovery speed by late March or early April [41][44] Question: What are the plans for efficient improvement and cost control in 2023? - Management stated that they aim to reduce marketing-related expenses by 20% and continue restructuring to enhance operational efficiency [50][52] Question: What is the strategy for the VAS business in 2023, particularly regarding social e-commerce? - Management plans to leverage KOL live streaming and enhance traffic monetization through social e-commerce, aiming to increase market share and revenue from membership services [55][58]

Financial Data and Key Metrics Changes - Weibo's total revenues for Q3 2022 reached $453.6 million, a decrease of 25% year-over-year and an increase of 1% quarter-over-quarter [9][40] - Non-GAAP operating income was $162.1 million, representing a non-GAAP operating margin of 36%, up from 32% in the previous quarter [9][34] - Net income attributable to Weibo was approximately $519 million, with a net margin of 36% [40][48] Business Line Data and Key Metrics Changes - Advertising and marketing revenues were $383.4 million, a decrease of 27% year-over-year [41] - Mobile ad revenues accounted for approximately 95% of total ad revenues, amounting to $372 million [41] - The online gaming sector showed resilience, with a significant increase in traffic and interactions, particularly during eSports events [23][28] Market Data and Key Metrics Changes - The luxury and automobile sectors exhibited a solid recovery trend, with double-digit growth both year-over-year and sequentially [42] - The FMCG and e-commerce sectors continued to face challenges due to weak consumption sentiment and COVID-19 control measures [29][42] - Ad revenues from Alibaba decreased by 28%, aligning with the overall advertising business performance [45] Company Strategy and Development Direction - The company is focusing on improving operating efficiency and enhancing user engagement through product optimization and community investments [10][35] - Weibo aims to deepen cooperation with handset manufacturers to expand user scale and improve content distribution [14][35] - The strategy includes diversifying revenue streams beyond advertising, with a focus on e-commerce and membership systems [70][75] Management Comments on Operating Environment and Future Outlook - Management noted that the advertising market remains uncertain, but there are positive signals from certain industries, particularly during the Double 11 shopping festival [30][56] - The company anticipates a stable trend in e-commerce advertising and expects to capture advertising budgets related to the World Cup [32][56] - Management emphasized the importance of cost optimization and operational efficiency in navigating the uncertain macro environment [33][60] Other Important Information - Weibo's cash, cash equivalents, and short-term investments totaled $3 billion as of September 30, 2022 [49] - The company repurchased approximately 3.1 million ADS for a total cost of $157.7 million as part of its share repurchase program [50] Q&A Session Summary Question: Advertising outlook and sentiment in Q4 and 2023 - Management indicated that the recovery is closely tied to macroeconomic conditions, with expectations for a quarter-over-quarter improvement in Q4 [52][53] - The company anticipates a stable trend in e-commerce advertising during the Double 11 shopping festival [56][57] Question: Cost optimization strategies and margin outlook - Management confirmed ongoing cost optimization efforts, particularly in marketing and operational expenses, with expectations for a stable margin in Q4 [62][64] - The focus will remain on improving core competencies and operational efficiency [64][66] Question: Diversifying revenue streams beyond advertising - Management acknowledged the need to diversify monetization methods, with VAS currently accounting for about 13% of total revenue [70][75] - The company is investing in e-commerce and membership systems to enhance monetization opportunities [71][73]

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]