微博(09898) - 2024 - 年度业绩

Financial Performance - In Q4 2024, Weibo's net revenue was $456.8 million, a decrease of 1% year-over-year[5]. - Advertising and marketing revenue for Q4 2024 was $385.9 million, down 4% year-over-year, primarily due to a high comparison base from the previous year[7]. - Value-added services revenue increased by 18% year-over-year to $71.0 million in Q4 2024, driven by growth in membership services and gaming-related income[5]. - Operating profit for Q4 2024 was $117.9 million, with an operating margin of 26%[8]. - Net profit attributable to Weibo shareholders in Q4 2024 was $8.9 million, with diluted earnings per share of $0.04[9]. - For the fiscal year 2024, Weibo's total net revenue was $1.75 billion, remaining stable compared to $1.76 billion in 2023[11]. - The fiscal year 2024 advertising and marketing revenue was $1.50 billion, a decrease of 2% from $1.53 billion in 2023[11]. - Value-added services revenue for the fiscal year 2024 reached $256.0 million, an increase of 13% from $225.8 million in 2023[12]. - Operating profit for 2024 is $494.3 million, up from $472.9 million in 2023, with an operating margin of 28% compared to 27% last year[14]. - Net profit attributable to Weibo shareholders for 2024 is $300.8 million, down from $342.6 million in 2023, with diluted earnings per share of $1.16 compared to $1.43 in 2023[15]. - Non-GAAP net profit attributable to Weibo shareholders for 2024 is $478.6 million, an increase from $450.6 million in 2023, with diluted earnings per share of $1.82 compared to $1.88 in 2023[15]. - Cash generated from operating activities for 2024 is $639.9 million, down from $672.8 million in 2023[15]. - The net profit attributable to Weibo shareholders for the twelve months ending December 31, 2024, was $478,637 thousand, a 5.9% increase compared to $450,566 thousand for the previous year[33]. - The adjusted EBITDA for the twelve months ending December 31, 2024, was $606,164 thousand, reflecting a slight decrease from $630,607 thousand in the previous year[35]. Cash and Dividends - As of December 31, 2024, Weibo had cash, cash equivalents, and short-term investments totaling $2.4 billion[10]. - The board approved a dividend of $200 million for the fiscal year 2024, reflecting the company's commitment to enhancing shareholder returns[4]. - The board has adopted a cash dividend policy and declared a cash dividend of $0.82 per share for the 2024 fiscal year, totaling approximately $200 million[17]. - The board will determine the dividend amount based on the company's operating performance, profitability, cash flow, and financial condition[16]. Costs and Expenses - Total costs and expenses for 2024 are $1.26 billion, a decrease of 2% from $1.29 billion in 2023[13]. Comparison with Previous Periods - Total net revenue for Q4 2023 was $463.7 million, a slight increase from $456.8 million in Q3 2023, and $1.76 billion for the full year 2023[27]. - Advertising and marketing revenue for Q4 2023 was $403.7 million, compared to $385.9 million in Q4 2022, while full-year revenue was $1.53 billion, down from $1.50 billion in 2022[27]. - Value-added services revenue increased to $59.9 million in Q4 2023, up from $55.5 million in Q4 2022, with full-year revenue rising to $225.8 million from $226.0 million[27]. - Operating profit for Q4 2023 was $119.0 million, compared to $117.9 million in Q3 2023, and $472.9 million for the full year 2023, up from $494.3 million in 2022[27]. - Net profit attributable to Weibo shareholders for Q4 2023 was $83.2 million, significantly higher than $8.9 million in Q3 2023, with full-year net profit at $342.6 million, compared to $300.8 million in 2022[27]. - Basic earnings per share for Q4 2023 was $0.35, up from $0.04 in Q3 2023, while full-year basic earnings per share increased to $1.45 from $1.27 in 2022[28]. Assets and Liabilities - Cash and cash equivalents decreased to $2.58 billion as of December 31, 2023, from $1.89 billion in 2024[30]. - Total assets decreased to $7.28 billion as of December 31, 2023, compared to $6.50 billion in 2024[30]. - Total liabilities decreased to $3.76 billion as of December 31, 2023, from $2.93 billion in 2024[31]. - Shareholders' equity attributable to Weibo shareholders increased to $3.40 billion as of December 31, 2023, compared to $3.48 billion in 2024[31]. Non-GAAP Metrics - Non-GAAP financial metrics are used to reflect the company's ongoing performance and provide meaningful comparisons across periods[20]. - The company emphasizes that non-GAAP financial metrics should be viewed as a supplement to GAAP metrics and may not be comparable to those used by other companies[22]. - For the three months ending December 31, 2023, the non-GAAP operating profit was $145,856 thousand, representing a 10.7% increase from $131,700 thousand in the previous quarter[33]. - The non-GAAP operating profit margin for the three months ending December 31, 2023, was 31%, compared to 34% for the same period last year[35]. Conference Call - The company will hold a conference call on March 13, 2025, to discuss its financial performance and business operations[18]. Advertising Revenue - Advertising revenue from non-Alibaba advertisers for the three months ending December 31, 2023, was $358,848 thousand, showing a 5.5% increase from $345,528 thousand in the previous quarter[37]. Other Financial Information - The total net income for the three months ending December 31, 2023, was $463,667 thousand, a slight decrease from $464,480 thousand in the previous quarter[37]. - The diluted earnings per share attributable to Weibo shareholders for the three months ending December 31, 2023, was $0.31, compared to $0.53 in the previous quarter[33]. - The company reported a total of 246,382 thousand shares used for calculating diluted earnings per share for the three months ending December 31, 2023[35]. - The revenue from value-added services for the three months ending December 31, 2023, was $59,928 thousand, an increase from $55,000 thousand in the previous quarter[37]. - The company experienced a net investment loss of $(25,544) thousand for the three months ending December 31, 2023, compared to a loss of $(16,905) thousand in the previous quarter[33].