微博(09898) - 2024 Q1 - 季度业绩

Financial Performance - For Q1 2024, Weibo reported net revenue of $395.5 million, a decrease of 4% year-over-year[4]. - Total net revenue for the three months ended March 31, 2024, was $395,497, a decrease of 14.7% from $463,667 for the same period in 2023[13]. - Advertising and marketing revenue was $339.0 million, down 5% year-over-year, primarily due to unfavorable currency effects[5]. - Advertising and marketing revenue for the same period was $338,951, down 16.0% from $403,739 in the previous year[13]. - Operating profit for Q1 2024 was $99.7 million, with an operating margin of 25%, up from 23% in the same quarter last year[5]. - Operating profit for the three months ended March 31, 2024, was $99,737, compared to $119,005 for the same period in 2023, reflecting a decrease of 16.1%[13]. - Net profit attributable to Weibo shareholders was $49.4 million, translating to diluted earnings per share of $0.19, down from $0.42 year-over-year[5]. - Net profit attributable to Weibo shareholders for the three months ended March 31, 2024, was $49,438, a significant decrease of 50.7% from $100,492 in the previous year[13]. - Non-GAAP net profit attributable to Weibo shareholders was $106.6 million, with non-GAAP diluted earnings per share of $0.41, compared to $0.47 in the prior year[5]. - Non-GAAP diluted earnings per share attributable to Weibo shareholders was $0.31 for the three months ended March 31, 2024, compared to $0.47 for the same period in 2023[17]. - For the three months ended March 31, 2024, the diluted earnings per share attributable to Weibo shareholders was $0.21, a decrease from $0.35 for the same period in 2023[14]. Costs and Expenses - Cost and expenses totaled $295.8 million, a decrease of 7% year-over-year, mainly due to reduced personnel and marketing costs[5]. - The company reported a total cost and expenses of $295,760 for the three months ended March 31, 2024, down from $344,662 in the same period of 2023, representing a decrease of 14.2%[13]. - The adjusted EBITDA for the three months ended March 31, 2024, was not explicitly stated but is derived from the net profit before interest, taxes, depreciation, and amortization[13]. - The adjusted EBITDA for the three months ended March 31, 2024, was $133.0 million, compared to $158.2 million for the previous quarter[19]. - The company reported a non-GAAP operating profit margin of 32% for the three months ended March 31, 2024, up from 31% in the previous quarter[19]. User Engagement - Monthly active users reached 588 million in March 2024, while daily active users averaged 255 million[4]. - Weibo's user engagement and active user growth remain critical for future revenue performance, with ongoing efforts to expand its user base[12]. - The company is actively developing new features and products to enhance user experience and drive monetization[12]. Financial Position - Total cash, cash equivalents, and short-term investments amounted to $3.3 billion as of March 31, 2024[6]. - The total assets as of March 31, 2024, were $7.28 billion, slightly down from $7.28 billion as of December 31, 2023[15]. - The total liabilities increased to $3.98 billion as of March 31, 2024, from $3.76 billion as of December 31, 2023[16]. - Cash and cash equivalents decreased to $2.14 billion as of March 31, 2024, from $2.58 billion as of December 31, 2023[15]. - The number of shares used to calculate diluted earnings per share increased to 263.6 million for the three months ended March 31, 2024, from 246.4 million for the same period in 2023[19]. Strategic Focus - The company aims to enhance platform value and improve shareholder returns moving forward[3]. - The company continues to focus on enhancing its advertising and marketing solutions to improve revenue generation[10]. - Weibo acknowledges potential risks including regulatory uncertainties and competition in the advertising market that may impact future performance[12].