微博-SW(09898) - 2022 Q3 - 季度财报

Financial Performance - Net revenue for Q3 2022 was $453.6 million, a decrease of 25% year-over-year, and a 20% decrease when calculated at fixed exchange rates[3] - Advertising and marketing revenue was $393.4 million, down 27% year-over-year, primarily due to weak advertising demand and the impact of COVID-19 in China[4] - Total net revenue for the three months ended September 30, 2022, was $453.56 million, a decrease from $607.43 million in the same period of 2021, representing a decline of approximately 25.3%[11] - Advertising and marketing services accounted for $393.43 million of net revenue, down from $537.62 million year-over-year, reflecting a decrease of about 26.8%[11] - The company reported a net loss attributable to shareholders of $17.1 million for Q3 2022, compared to a net profit of $181.7 million in the same period last year[4] - Weibo's net loss attributable to shareholders was $(17,137) thousand for the three months ended September 30, 2022, compared to a profit of $181,738 thousand for the same period in 2021[16] - The company reported a non-GAAP operating profit of $162,105 thousand for Q3 2022, down from $248,704 thousand in Q3 2021[16] - Non-GAAP net profit attributable to shareholders was $119 million, with diluted earnings per share of $0.50[4] - Adjusted EBITDA for the three months ended September 30, 2022, was $144,744 thousand, down from $255,255 thousand year-over-year[17] - The adjusted net profit attributable to Weibo shareholders for the nine months ended September 30, 2022, was $361,559 thousand, down from $523,030 thousand in the same period of 2021[17] User Engagement - Monthly active users reached 584 million in September 2022, with a net increase of approximately 11 million users year-over-year[3] - Daily active users averaged 253 million in September 2022, with a net increase of approximately 5 million users year-over-year[3] Operating Costs and Expenses - Operating profit for Q3 2022 was $123.2 million, with an operating margin of 27%, down from 35% in the same period last year[4] - Operating profit for the three months ended September 30, 2022, was $123.21 million, compared to $213.05 million in the same period of 2021, indicating a decline of approximately 42.1%[11] - Total costs and expenses for the three months ended September 30, 2022, were $330.35 million, down from $394.39 million in the same period of 2021, a decrease of about 16.2%[11] - Operating costs increased to $2,544 million in Q3 2022 from $2,450 million in Q3 2021, while sales and marketing expenses rose to $5,107 million from $4,700 million[12] Cash and Investments - Cash, cash equivalents, and short-term investments totaled $3 billion as of September 30, 2022[5] - Cash and cash equivalents totaled $2,758,901 thousand as of September 30, 2022, compared to $2,423,703 thousand as of December 31, 2021[14] - The company has authorized a stock repurchase plan of up to $500 million, with approximately 3.1 million ADS repurchased at a total cost of $57.7 million as of September 30, 2022[6] Assets and Liabilities - The total assets of Weibo decreased to $6,827,630 thousand as of September 30, 2022, down from $7,519,522 thousand as of December 31, 2021[14] - Weibo's total liabilities decreased to $3,522,442 thousand as of September 30, 2022, compared to $3,831,502 thousand as of December 31, 2021[15] - Weibo's total equity attributable to shareholders decreased to $3,214,804 thousand as of September 30, 2022, from $3,593,821 thousand as of December 31, 2021[15] Strategic Focus and Risks - The company emphasized a "mobile-first" approach, enhancing its social interest graph recommendation engine to improve targeted marketing effectiveness[9] - Weibo's revenue is primarily derived from advertising and marketing services, which are crucial for its financial performance[9] - The company faces risks including regulatory uncertainties in China and competition in advertising and marketing expenditures[10] - The company is focused on expanding its user base and engagement to drive future growth despite current challenges[10] Earnings Per Share - Weibo reported a basic net loss per share of $(0.07) for the three months ended September 30, 2022, compared to a profit of $0.79 for the same period in 2021[12] - The diluted net loss per share attributable to Weibo shareholders was $(0.07) for Q3 2022, compared to $0.78 for Q3 2021[12] - The number of diluted shares used to calculate GAAP net loss per share attributable to Weibo shareholders was 235,894 thousand for the three months ended September 30, 2022, compared to 237,183 thousand for the same period in 2021[17]