微博-SW(09898) - 2022 Q1 - 季度财报

Financial Performance - Net revenue for Q1 2022 was $484.6 million, a 6% increase year-over-year, and a 3% increase when calculated at fixed exchange rates[3]. - Advertising and marketing revenue reached $427.1 million, reflecting a 10% year-over-year growth[4]. - Value-added services revenue declined to $57.5 million, a 17% decrease compared to the same period last year[4]. - Total net revenue for the three months ended March 31, 2022, was $484.6 million, a decrease from $616.3 million in the same period of 2021[22]. - Total costs and expenses for Q1 2022 were $381.8 million, a 9% increase year-over-year[4]. - Operating profit for Q1 2022 was $102.8 million, with an operating profit margin of 21%[4]. - Operating profit for Q1 2022 was $102.849 million, down from $108.604 million in Q1 2021, indicating a decline of 5.2%[12]. - The company reported a net loss attributable to Weibo shareholders of $67.524 million for Q1 2022, compared to a profit of $49.820 million in Q1 2021[12]. - Non-GAAP net profit attributable to Weibo was $132.9 million, with a diluted net profit per share of $0.56[5]. - Non-GAAP net income attributable to Weibo shareholders for the three months ended March 31, 2022, was $132.9 million, compared to $130.7 million for the same period in 2021[19]. User Engagement - Monthly active users in March 2022 were 582 million, with a net increase of approximately 51 million users year-over-year[3]. - Daily active users in March 2022 averaged 252 million, with a net increase of approximately 22 million users year-over-year[3]. Cash and Assets - Cash, cash equivalents, and short-term investments totaled $3.3 billion as of March 31, 2022[6]. - Cash and cash equivalents as of March 31, 2022, were $2.50 billion, an increase from $2.42 billion as of December 31, 2021[18]. - The total assets as of March 31, 2022, were $7.47 billion, compared to $7.52 billion as of December 31, 2021[18]. - The total liabilities as of March 31, 2022, amounted to $3.81 billion, slightly down from $3.83 billion as of December 31, 2021[16]. - The total equity attributable to Weibo shareholders as of March 31, 2022, was $3.56 billion, down from $3.59 billion as of December 31, 2021[16]. Expenses and Losses - Total costs and expenses for Q1 2022 were $381.773 million, an increase from $350.292 million in Q1 2021, representing an increase of 9.4%[12]. - The company reported a significant increase in product development expenses, totaling $13.3 million for the three months ended March 31, 2022, compared to $8.1 million in the same period of 2021[13]. - Non-operating losses, including investment impairment and changes in fair value, amounted to $177.950 million in Q1 2022, significantly higher than $58.200 million in Q1 2021[12]. Management Insights - The company’s adjusted EBITDA was not disclosed in the provided data, but it is noted that adjusted EBITDA excludes interest income, income tax expenses, and depreciation[9]. - Weibo's management emphasizes the importance of non-GAAP financial metrics for assessing ongoing performance and making meaningful comparisons over time[9]. - The company expects to continue focusing on expanding its advertising revenue and enhancing user engagement in the upcoming quarters[22]. Market Challenges - Weibo faces risks including regulatory uncertainties in China, competition in advertising and marketing, and challenges in expanding its active user base[11].