Welcome to our dedicated page for Weibo Corporation news (Ticker: WB), a resource for investors and traders seeking the latest updates and insights on Weibo Corporation stock.
Weibo Corporation (symbol: WB) is a leading social media platform in China, primarily engaged in advertising and marketing services. Founded to enable people to create, discover, and share content, Weibo combines public self-expression with a robust platform for social interaction, content aggregation, and distribution. The company offers a range of advertising customization and marketing solutions, generating substantial revenue from these services. Weibo's main product is its social platform, which allows users to post multimedia and long-form content, creating viral conversations.
Weibo has expanded its services to include membership services on social platforms, online games, live broadcasts, and social e-commerce. The company's focus on a mobile-first philosophy ensures that content is displayed in an easy-to-navigate information feed format, enhancing user experience. Weibo's advanced social interest graph recommendation engine enables targeted advertising based on demographics, social relationships, interests, and behaviors, making marketing efforts more effective and engaging.
Recent achievements for Weibo include the successful offering of convertible senior notes amounting to US$300 million due 2030, intended to refinance part of its outstanding senior notes due 2024. The company has also announced a special cash dividend of US$200 million to its shareholders for 2024, showcasing its commitment to driving shareholder value.
Financially, Weibo reported total net revenues of US$463.7 million for the fourth quarter of 2023, a 3% increase year-over-year. The company also demonstrated solid growth in its advertising and marketing revenues, which were US$403.7 million for the same period. Despite challenges, Weibo has maintained a strong cash position with $3.3 billion in cash, cash equivalents, and short-term investments as of March 31, 2024.
Weibo's efforts in enhancing its product competitiveness and user engagement continue to pay off, as it aims for long-term profitability and growth. The company's strategic initiatives and recent financial maneuvers highlight its robust approach to navigating the dynamic social media landscape.
Weibo announced its unaudited financial results for Q2 2024, ending June 30. The company generated net revenues of $437.9 million, marking a 1% YoY decrease but a 1% increase on a constant currency basis. Advertising and marketing revenues were $375.3 million, down 3% YoY. However, VAS revenues rose 15% YoY to $62.6 million. Income from operations was $135.4 million with a 31% operating margin. Net income attributable to shareholders was $111.9 million, translating to diluted EPS of $0.43. Non-GAAP net income was $126.3 million, with non-GAAP diluted EPS of $0.48.
Weibo reported 583 million MAUs and 256 million DAUs as of June 2024. The company's cash, cash equivalents, and short-term investments stood at $2.8 billion. Operating activities generated $132.1 million in cash. Expenses decreased by 5% YoY to $302.5 million, driven by lower personnel costs. Income tax expenses rose to $33.3 million, partly due to accrued withholding tax.
Weibo (Nasdaq: WB and HKEX: 9898), a leading social media platform, has announced it will release its unaudited financial results for the second quarter of 2024 on August 22, 2024, before the U.S. market opens. Following this announcement, the company's management team will host a conference call from 7 AM to 8 AM Eastern Time (7 PM to 8 PM Beijing Time) on the same day.
Interested participants can register for the teleconference through a provided link. A live and archived webcast of the conference call will also be available on Weibo's investor relations website.
Weibo (NASDAQ: WB, HKEX: 9898) announced its unaudited financial results for Q1 2024, ending March 31, 2024. Net revenues totaled $395.5 million, a 4% year-over-year decline. Advertising and marketing revenues reached $339 million, down 5% year-over-year. Value-added services generated $56.5 million, a 3% decrease. Operating income was $99.7 million, with a 25% margin. Net income attributable to shareholders was $49.4 million, with a diluted EPS of $0.19. Non-GAAP net income was $106.6 million, with a diluted EPS of $0.41. Monthly active users hit 588 million, and daily active users reached 255 million. Cash holdings stood at $3.3 billion.
Weibo (NASDAQ: WB, HKEX: 9898) announced the results of its 2024 Annual General Meeting held on May 22, 2024. Three key resolutions were adopted: Charles Chao, Pochin Christopher Lu, and Gaofei Wang were re-elected as directors to continue their tenure until retirement as per the company's memorandum and articles of association.
Weibo, a leading Chinese social media platform, allows users to create, share, and discover content. It generates most of its revenue through advertising and marketing services, leveraging a refined social interest graph recommendation engine for targeted marketing. The company's services cater to businesses of all sizes, promoting brand visibility and engagement through social display ads and promoted marketing offerings.
Weibo will report its unaudited financial results for the first quarter of 2024 on May 23, 2024. The management team will host a conference call to discuss the Company's financial performance and business operations. Details for registration and webcast are provided in the press release.
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