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WB(WB) - 2024 Q4 - Annual Report
WBWB(WB)2025-04-15 10:45
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Financial Performance - For the year ended December 31, 2022, total costs and expenses reported under U.S. GAAP were 1,355,864,whileunderIFRStheyadjustedto1,355,864, while under IFRS they adjusted to 1,370,286, reflecting an increase of 14,422[1]−NetincomeattributabletoWeibo′sshareholdersfortheyearendedDecember31,2022,was14,422[1] - Net income attributable to Weibo's shareholders for the year ended December 31, 2022, was 85,555 under U.S. GAAP, which adjusted to 10,000underIFRS,indicatingasignificantdecreaseof88.310,000 under IFRS, indicating a significant decrease of 88.3%[1] - For the year ended December 31, 2023, total costs and expenses reported under U.S. GAAP were 1,286,902, which adjusted to 1,247,140underIFRS,showingareductionof1,247,140 under IFRS, showing a reduction of 39,762[2] - Net income for the year ended December 31, 2023, was 357,495underU.S.GAAP,adjustingto357,495 under U.S. GAAP, adjusting to 351,340 under IFRS, a slight decrease of 1.7%[2] - For the year ended December 31, 2024, total costs and expenses reported under U.S. GAAP were 1,260,353,whichadjustedto1,260,353, which adjusted to 1,222,774 under IFRS, indicating a decrease of 37,579[5]−NetincomeattributabletoWeibo′sshareholdersfortheyearendedDecember31,2024,was37,579[5] - Net income attributable to Weibo's shareholders for the year ended December 31, 2024, was 300,801 under U.S. GAAP, adjusting to 329,378underIFRS,reflectinganincreaseof9.5329,378 under IFRS, reflecting an increase of 9.5%[6] Revenue and Expenses - The cost of revenues for the year ended December 31, 2022, was 400,585 under U.S. GAAP, which adjusted to 403,102underIFRS,anincreaseof403,102 under IFRS, an increase of 2,517[1] - Sales and marketing expenses for the year ended December 31, 2022, were 477,107underU.S.GAAP,adjustingto477,107 under U.S. GAAP, adjusting to 480,010 under IFRS, an increase of 2,903[1]−ThefairvaluechangesthroughearningsoninvestmentsfortheyearendedDecember31,2023,were2,903[1] - The fair value changes through earnings on investments for the year ended December 31, 2023, were 43,002 under U.S. GAAP, adjusting to 63,336underIFRS,anincreaseof63,336 under IFRS, an increase of 20,334[2] - Interest expense for the year ended December 31, 2023, was (120,070)underU.S.GAAP,adjustingto(120,070) under U.S. GAAP, adjusting to (122,498) under IFRS, indicating an increase of 2,428[2]AssetsandLiabilities−TotalassetsasofDecember31,2023,reportedat2,428[2] Assets and Liabilities - Total assets as of December 31, 2023, reported at 7,280,358, with IFRS adjustments resulting in a total of 7,322,919[7]−Long−terminvestmentsmeasuredatfairvalueincreasedto7,322,919[7] - Long-term investments measured at fair value increased to 1,376,307 as of December 31, 2023, reflecting a fair value adjustment of 55,921[7]−Totalliabilitiesamountedto55,921[7] - Total liabilities amounted to 3,892,810, with convertible senior notes at 356,545andaccruedliabilitiesat356,545 and accrued liabilities at 656,109[7] - Shareholders' equity as reported under IFRS was 3,338,694,afteradjustmentsforredeemablenon−controllinginterest[7]−Thecompanyreportedadecreaseingoodwillfrom3,338,694, after adjustments for redeemable non-controlling interest[7] - The company reported a decrease in goodwill from 166,436 to 155,332afterIFRSadjustments[7]−Totalliabilities,redeemablenon−controllinginterests,andshareholders′equitycombinedwerereportedat155,332 after IFRS adjustments[7] - Total liabilities, redeemable non-controlling interests, and shareholders' equity combined were reported at 7,322,919[7] - As of December 31, 2024, total assets were reported at 6,504,499,withadjustmentsleadingtoatotalof6,504,499, with adjustments leading to a total of 6,548,499[8] - The company’s convertible senior notes under U.S. GAAP were reported at 320,803,withfairvalueadjustmentsleadingtoatotalof320,803, with fair value adjustments leading to a total of 362,759[9] - Non-controlling interests increased to 91,415,reflectingafairvalueadjustmentof91,415, reflecting a fair value adjustment of 41,262[9] - The total shareholders' equity reported was $3,517,583, after accounting for various adjustments[9]