2025-04-15 10:45Financial Performance - For the year ended December 31, 2022, total costs and expenses reported under U.S. GAAP were $1,355,864, while under IFRS they adjusted to $1,370,286, reflecting an increase of $14,422[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 $10,000 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 $1,247,140 under IFRS, showing a reduction of $39,762[2] - Net income for the year ended December 31, 2023, was $357,495 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, which adjusted to $1,222,774 under IFRS, indicating a decrease of $37,579[5] - Net income attributable to Weibo's shareholders for the year ended December 31, 2024, was $300,801 under U.S. GAAP, adjusting to $329,378 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 $403,102 under IFRS, an increase of $2,517[1] - Sales and marketing expenses for the year ended December 31, 2022, were $477,107 under U.S. GAAP, adjusting to $480,010 under IFRS, an increase of $2,903[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 $63,336 under IFRS, an increase of $20,334[2] - Interest expense for the year ended December 31, 2023, was $(120,070) under U.S. GAAP, adjusting to $(122,498) under IFRS, indicating an increase of $2,428[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-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] - Total liabilities amounted to $3,892,810, with convertible senior notes at $356,545 and accrued liabilities at $656,109[7] - Shareholders' equity as reported under IFRS was $3,338,694, after adjustments for redeemable non-controlling interest[7] - The company reported a decrease in goodwill from $166,436 to $155,332 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, 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, with fair value adjustments leading to a total of $362,759[9] - Non-controlling interests increased to $91,415, reflecting a fair value adjustment of $41,262[9] - The total shareholders' equity reported was $3,517,583, after accounting for various adjustments[9]