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微博-SW(09898) - 2023 - 中期财报
09898WB(09898)2023-08-24 09:15

Financial Performance - For Q2 2023, Weibo reported net revenue of 440.2million,adecreaseof2440.2 million, a decrease of 2% year-over-year, but a 5% increase when adjusted for fixed exchange rates[4]. - Advertising and marketing revenue was 385.7 million, remaining flat compared to the same period last year, with a 7% increase when adjusted for fixed exchange rates[4]. - Value-added services revenue decreased by 16% year-over-year to 54.6million,primarilyduetoareductioninmembershipserviceincome[5].−OperatingprofitforQ22023was54.6 million, primarily due to a reduction in membership service income[5]. - Operating profit for Q2 2023 was 123.5 million, with an operating margin of 28%, up from 21% in the same quarter last year[5]. - Net profit attributable to Weibo shareholders was 81.4million,translatingtodilutedearningspershareof81.4 million, translating to diluted earnings per share of 0.34, compared to 0.12intheprioryear[5].−Totalnetrevenueforthesecondquarterof2023was0.12 in the prior year[5]. - Total net revenue for the second quarter of 2023 was 440,240 thousand, a decrease of 2.2% compared to 450,152thousandinthesameperiodof2022[13].−AdvertisingandmarketingrevenueforQ22023was450,152 thousand in the same period of 2022[13]. - Advertising and marketing revenue for Q2 2023 was 385,674 thousand, showing a slight increase from 385,559thousandinQ22022[13].−NetincomeattributabletoWeiboshareholdersforQ22023was385,559 thousand in Q2 2022[13]. - Net income attributable to Weibo shareholders for Q2 2023 was 81,387 thousand, compared to 28,300thousandinQ22022,representingasignificantincreaseof187.528,300 thousand in Q2 2022, representing a significant increase of 187.5%[13]. - Basic net income per share attributable to Weibo shareholders for Q2 2023 was 0.35, up from 0.12inQ22022[14].−Thecompanyreportedatotaloperatingprofitof0.12 in Q2 2022[14]. - The company reported a total operating profit of 123,453 thousand for Q2 2023, an increase from 93,938thousandinQ22022[13].−OperatingprofitforQ22023reached93,938 thousand in Q2 2022[13]. - Operating profit for Q2 2023 reached 123,453 thousand, a 27.8% increase from 96,490thousandinQ12023[17].−Non−GAAPnetprofitattributabletoWeiboshareholdersforQ22023was96,490 thousand in Q1 2023[17]. - Non-GAAP net profit attributable to Weibo shareholders for Q2 2023 was 126,376 thousand, up from 111,229thousandinQ12023,markinga13.6111,229 thousand in Q1 2023, marking a 13.6% increase[18]. - Adjusted EBITDA for Q2 2023 was 163,881 thousand, compared to 133,744thousandinQ12023,representinga22.5133,744 thousand in Q1 2023, representing a 22.5% increase[18]. User Engagement - Monthly active users reached 599 million in June 2023, with a net increase of approximately 17 million users year-over-year[4]. - Daily active users averaged 258 million in June 2023, reflecting a net increase of about 5 million users year-over-year[4]. Cash and Investments - As of June 30, 2023, Weibo had cash, cash equivalents, and short-term investments totaling 2.8 billion[6]. - Cash and cash equivalents as of June 30, 2023, were 2,360,744thousand,downfrom2,360,744 thousand, down from 2,690,768 thousand as of December 31, 2022[15]. - Long-term investments increased to 1,309,217thousandasofJune30,2023,comparedto1,309,217 thousand as of June 30, 2023, compared to 993,630 thousand as of December 31, 2022[15]. Dividends and Shareholder Returns - The company declared a special cash dividend of 0.85pershareinJuly2023,totalingapproximately0.85 per share in July 2023, totaling approximately 200 million[3]. Operational Strategy - The company continues to focus on expanding its advertising services and enhancing user engagement through new product developments and market strategies[19]. - The majority of the company's revenue comes from advertising and marketing services, focusing on a mobile-first approach[11]. - The company has developed a social interest graph recommendation engine to enhance marketing effectiveness based on user demographics and behavior[11]. - The company has a commitment to continuously improve its platform and develop new features and products[12]. Risks and Forward-Looking Statements - Forward-looking statements regarding financial performance and operational plans will be made during the call, highlighting potential risks and uncertainties[12]. - The company faces risks related to user growth, regulatory environment, and competition in the advertising market[12]. Financial Reporting and Metrics - Non-GAAP operating profit was 153.8million,withanon−GAAPoperatingmarginof35153.8 million, with a non-GAAP operating margin of 35%, compared to 32% in the same quarter last year[5]. - Non-GAAP financial metrics will be discussed, including operating profit and net profit attributable to shareholders[9]. - The company emphasizes the importance of non-GAAP metrics for reflecting ongoing operational performance and facilitating meaningful comparisons over periods[9]. Conference Call - The company will hold a conference call on August 24, 2023, to report its financial and operational performance[8]. Financial Position - Total assets decreased to 6,878,933 thousand as of June 30, 2023, from 7,129,454thousandasofDecember31,2022[16].−Totalliabilitiesdecreasedto7,129,454 thousand as of December 31, 2022[16]. - Total liabilities decreased to 3,685,299 thousand as of June 30, 2023, from 3,738,914thousandasofDecember31,2022[16].−Thecompanyreportedasignificantincreaseinoperatingprofitforthefirsthalfof2023,totaling3,738,914 thousand as of December 31, 2022[16]. - The company reported a significant increase in operating profit for the first half of 2023, totaling 219,943 thousand, compared to 196,787thousandinthesameperiodof2022[17].−Thecompany’snon−GAAPoperatingprofitforthefirsthalfof2023was196,787 thousand in the same period of 2022[17]. - The company’s non-GAAP operating profit for the first half of 2023 was 282,345 thousand, slightly down from 287,019thousandinthefirsthalfof2022[17].ShareholderEquityandLiabilities−Shareholders′equitytotaled287,019 thousand in the first half of 2022[17]. Shareholder Equity and Liabilities - Shareholders' equity totaled 3,344,745,000, slightly decreasing from 3,345,116,000,representingamarginaldeclineof0.013,345,116,000, representing a marginal decline of 0.01%[24]. - The company’s total equity attributable to shareholders was 3,330,250,000, down from $3,296,276,000, reflecting a decrease of approximately 1%[24]. Accounting Standards - The adjustments between US GAAP and IFRS accounting standards were detailed, highlighting differences in the treatment of convertible bonds and lease liabilities[26].