Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
Weibo Announces Second Quarter 2026 Unaudited Financial Results
Hong Kong, China – August 19, 2026 – Weibo Corporation (“Weibo”
or the “Company”) (Nasdaq: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results
for the second quarter ended June 30, 2026.
“We delivered a solid quarter,” said Gaofei Wang, CEO of
Weibo. “On the user front, with our continued efforts to improve user quality and drive user retention through information feed
revamp, we saw solid engagement among our core users and increased consumption in the information feeds. Video consumption continued to
improve, supported by better content distribution within our revamped feed and increased supply of high quality contents. On the monetization
front, we focused on bringing Weibo’s unique value on content marketing to more advertisers and enhancing advertising performance
through AI integration. We saw solid performance of certain pillar industries and good momentum of celebrity marketing. On the AI front,
we made solid progress in the integration of AI to enhance our product, content and monetization systems.”
Second Quarter 2026 Highlights
| · | Net revenues
were US$453.8 million, an increase of 2% year-over-year or a decrease of 4% year-over-year on a constant currency basis [1]. |
| · | Advertising
and marketing revenues were US$381.0 million, a decrease of 1% year-over-year or a decrease of 6% year-over-year on a constant currency
basis [1]. |
| · | Value-added
services ("VAS") revenues were US$72.9 million, an increase of 19% year-over-year or an increase of 12% year-over-year on a
constant currency basis [1]. |
| · | Income
from operations was US$118.9 million, representing an operating margin of 26%. |
| · | Net income
attributable to Weibo’s shareholders was US$67.4 million and diluted net income per share was US$0.26. |
| · | Non-GAAP
income from operations was US$125.4 million, representing a non-GAAP operating margin of 28%. |
| · | Non-GAAP
net income attributable to Weibo’s shareholders was US$102.7 million and non-GAAP diluted net income per share was US$0.38. |
| · | Monthly
active users ("MAUs") were 561 million in June 2026. |
| · | Average
daily active users ("DAUs") were 254 million in June 2026. |
[1]
We define constant currency (non-GAAP) by assuming that the average exchange rate in the second quarter of 2026 was the same as it was
in the second quarter of 2025, or RMB7.23=US$1.00.
Second Quarter 2026 Financial Results
For the second quarter of 2026, Weibo’s total net revenues were
US$453.8 million, an increase of 2% compared to US$444.8 million for the same period last year.
Advertising and marketing revenues for the second quarter of 2026 were
US$381.0 million, a decrease of 1% compared to US$383.4 million for the same period last year. Advertising and marketing revenues excluding
advertising revenues from Alibaba were US$341.8 million, a decrease of 2% compared to US$347.6 million for the same period last year.
The decrease was primarily due to the descending trend of advertising demands from handset and online game sectors year-over-year, and
was partially offset by increase of advertising revenues from internet service and automobile sectors as well as favorable foreign exchange
impact on the reported numbers from the overall appreciation of RMB against the U.S. dollar (“foreign exchange impact”) on
a year-over-year basis. Advertising and marketing revenues from Alibaba were US$39.2 million, an increase of 10% compared to US$35.7 million
for the same period last year. The increase was primarily attributable to the favorable foreign exchange impact on the reported numbers
on a year-over-year basis and a modest increase in advertising demands from Alibaba mainly due to its AI application promotion.
VAS revenues for the second quarter of 2026 were US$72.9 million, an
increase of 19% compared to US$61.4 million for the same period last year, primarily attributable to additional revenues of one-off ticket
proceeds from off-line activities held by Weibo, and solid growth from membership service as well as favorable foreign exchange impact
on the reported numbers on a year-over-year basis.
Costs and expenses for the second quarter of 2026 totaled US$335.0
million, an increase of 12% compared to US$299.2 million for the same period last year, mainly due to the increases in ad production costs
and marketing expenses.
Income from operations for the second quarter of 2026 was US$118.9
million, compared to US$145.6 million for the same period last year. Operating margin was 26%, compared to 33% last year. Non-GAAP income
from operations was US$125.4 million, compared to US$161.8 million for the same period last year. Non-GAAP operating margin was 28%, compared
to 36% last year.
Non-operating loss for the second quarter of 2026 was US$27.8 million,
compared to non-operating income of US$12.8 million for the same period last year. Non-operating loss for the second quarter of 2026 mainly
included (i) loss from fair value change of investments of US$22.8 million, which was excluded under non-GAAP measures; and (ii) net
interest and other loss of US$5.1 million.
Income tax expenses for the second quarter of 2026 were US$23.0 million,
compared to US$31.7 million for the same period last year. The decrease in tax expenses was mainly due to lower income before tax in the
second quarter of 2026 compared to the same period last year.
Net income attributable to Weibo’s shareholders for the second
quarter of 2026 was US$67.4 million, compared to US$125.7 million for the same period last year. Diluted net income per share attributable
to Weibo’s shareholders for the second quarter of 2026 was US$0.26, compared to US$0.48 for the same period last year. Non-GAAP
net income attributable to Weibo’s shareholders for the second quarter of 2026 was US$102.7 million, compared to US$143.2 million
for the same period last year. Non-GAAP diluted net income per share attributable to Weibo’s shareholders for the second quarter
of 2026 was US$0.38, compared to US$0.54 for the same period last year.
As of June 30, 2026, Weibo’s cash, cash equivalents and
short-term investments totaled US$2.64 billion. For the second quarter of 2026, cash provided by operating activities was US$50.5 million,
capital expenditures totaled US$3.1 million, and depreciation and amortization expenses amounted to US$15.7 million.
Conference Call
Weibo's management team will host a conference call from 7:00 AM to
8:00 AM Eastern Time on August 19, 2026 (or 7:00 PM to 8:00 PM Hong Kong Time on August 19, 2026) to present an overview of
the Company's financial performance and business operations.
Participants who wish to dial in to the teleconference must register
through the below public participant link. Dial-in and instructions will be provided in the confirmation email upon registering.
Participants Registration Link:
https://register-conf.media-server.com/register/BI4542e6edec00491e9198327b87da5adb
Additionally, a live and archived webcast of this conference call
will be available at http://ir.weibo.com.
Non-GAAP Financial Measures
This release contains the following non-GAAP financial measures: non-GAAP
income from operations, non-GAAP net income attributable to Weibo’s shareholders, non-GAAP diluted net income per share attributable
to Weibo’s shareholders and adjusted EBITDA. These non-GAAP financial measures should be considered in addition to, not as a substitute
for, measures of the Company’s financial performance prepared in accordance with U.S. GAAP.
The Company’s non-GAAP financial measures exclude
stock-based compensation, amortization of intangible assets resulting from business acquisitions, net results of impairment and
provision on investments, gain/loss on sale of investments and fair value change of investments, non-GAAP to GAAP reconciling items
on the share of equity method investments, non-GAAP to GAAP reconciling items for the income/loss attributable to non-controlling
interests, income tax effects related to the amortization of intangible assets resulting from business acquisitions and fair value
change of investments (other non-GAAP to GAAP reconciling items have no tax effect), and amortization of issuance cost of
convertible senior notes, unsecured senior notes and long-term loans. Adjusted EBITDA represents non-GAAP net income attributable to
Weibo’s shareholders before interest income/expense, net, income tax expenses/benefits, and depreciation expenses.
The Company’s management uses these non-GAAP financial measures
in their financial and operating decision-making, because management believes these measures reflect the Company’s ongoing operating
performance in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures
provide useful information to investors and others in the following ways: (i) in comparing the Company’s current financial
results with the Company’s past financial results in a consistent manner, and (ii) in understanding and evaluating the Company’s
current operating performance and future prospects in the same manner as management does. The Company also believes that the non-GAAP
financial measures provide useful information to both management and investors by excluding certain expenses, gains/losses and other items
(i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative
of the Company’s core operating results and business outlook.
Use of non-GAAP financial measures has limitations. The Company’s
non-GAAP financial measures do not include all income and expense items that affect the Company’s operations. They may not be comparable
to non-GAAP financial measures used by other companies. Accordingly, care should be exercised in understanding how the Company defines
its non-GAAP financial measures. Reconciliations of the Company’s non-GAAP financial measures to the nearest comparable GAAP measures
are set forth in the section below titled “Unaudited Reconciliation of Non-GAAP to GAAP Results.”
About Weibo
Weibo is a leading social media for people to create, share and
discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction,
content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships
on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric
and distributed nature of Weibo allows an original feed to become a live viral conversation stream.
Weibo enables its advertising and marketing customers to promote
their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies
of all sizes. Weibo generates a substantial majority of its revenues from the sale of advertising and marketing services, including the
sale of social display advertisement and promoted marketing offerings. Weibo displays content in a simple information feed format and
offers native advertisement that conforms to the information feed on our platform. We are continuously refining our social interest
graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics,
social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.
Safe Harbor Statement
This press release contains forward-looking statements. These statements
are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology, such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “confidence,” “estimates” and similar statements.
Among other things, Weibo’s expected financial performance and strategic and operational plans, as described, without limitation,
in quotations from management in this press release, contain forward-looking statements. Weibo may also make written or oral forward-looking
statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements,
circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”),
in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ
materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo’s
limited operating history in certain new businesses; failure to sustain or grow active user base and the level of user engagement; the
uncertain regulatory landscape in China; fluctuations in the Company’s quarterly operating results; the Company’s reliance
on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize
new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired
businesses; risks associated with the Company’s investments, including equity pick-up and impairment; failure to compete successfully
against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the
Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further
information regarding these and other risks is included in Weibo’s annual reports on Form 20-F and other filings with the SEC
and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no
obligation to update such information, except as required under applicable law.
Contact:
Investor Relations
Weibo Corporation
Email: ir@staff.weibo.com
WEIBO CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
(In thousands of U.S. dollars and
in thousands for shares, except per share data)
| | |
Three months ended | | |
Six months ended | |
| | |
June 30, | | |
June 30, | | |
June 30, | | |
June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| Net revenues: | |
| | | |
| | | |
| | | |
| | |
| Advertising and marketing | |
$ | 383,352 | | |
$ | 380,974 | | |
$ | 722,458 | | |
$ | 750,729 | |
| Value-added services | |
| 61,446 | | |
| 72,852 | | |
| 119,195 | | |
| 124,422 | |
| Net revenues | |
| 444,798 | | |
| 453,826 | | |
| 841,653 | | |
| 875,151 | |
| | |
| | | |
| | | |
| | | |
| | |
| Costs and expenses: | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues (1) | |
| 103,451 | | |
| 129,804 | | |
| 192,253 | | |
| 247,547 | |
| Sales and marketing (1) | |
| 109,747 | | |
| 118,752 | | |
| 205,557 | | |
| 231,049 | |
| Product development (1) | |
| 78,068 | | |
| 75,425 | | |
| 154,089 | | |
| 148,922 | |
| General and administrative (1) | |
| 7,962 | | |
| 10,986 | | |
| 33,874 | | |
| 17,853 | |
| Total costs and expenses | |
| 299,228 | | |
| 334,967 | | |
| 585,773 | | |
| 645,371 | |
| Income from operations | |
| 145,570 | | |
| 118,859 | | |
| 255,880 | | |
| 229,780 | |
| | |
| | | |
| | | |
| | | |
| | |
| Non-operating income (loss): | |
| | | |
| | | |
| | | |
| | |
| Investment related income (loss), net | |
| (3,112 | ) | |
| (22,755 | ) | |
| 5,245 | | |
| (57,786 | ) |
| Interest and other income (loss), net | |
| 15,945 | | |
| (5,088 | ) | |
| 29,691 | | |
| (29,972 | ) |
| | |
| 12,833 | | |
| (27,843 | ) | |
| 34,936 | | |
| (87,758 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Income before income tax expenses | |
| 158,403 | | |
| 91,016 | | |
| 290,816 | | |
| 142,022 | |
| Less: Income tax expenses | |
| 31,705 | | |
| 22,958 | | |
| 55,996 | | |
| 38,630 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net income | |
| 126,698 | | |
| 68,058 | | |
| 234,820 | | |
| 103,392 | |
| Less: Net income attributable to non-controlling interests | |
| 429 | | |
| 391 | | |
| 763 | | |
| 815 | |
| Accretion to redeemable non-controlling interests | |
| 584 | | |
| 290 | | |
| 1,408 | | |
| 485 | |
| Net income attributable to Weibo’s shareholders | |
$ | 125,685 | | |
$ | 67,377 | | |
$ | 232,649 | | |
$ | 102,092 | |
| | |
| | | |
| | | |
| | | |
| | |
| Basic net income per share attributable to Weibo’s shareholders | |
$ | 0.53 | | |
$ | 0.28 | | |
$ | 0.98 | | |
$ | 0.43 | |
| Diluted net income per share attributable to Weibo’s shareholders | |
$ | 0.48 | | |
$ | 0.26 | | |
$ | 0.88 | | |
$ | 0.39 | |
| | |
| | | |
| | | |
| | | |
| | |
| Shares used in computing basic net income per share attributable to Weibo’s shareholders | |
| 238,632 | | |
| 239,462 | | |
| 238,459 | | |
| 239,414 | |
| Shares used in computing diluted net income per share attributable to Weibo’s shareholders | |
| 268,346 | | |
| 271,550 | | |
| 267,429 | | |
| 270,841 | |
| | |
| | | |
| | | |
| | | |
| | |
| (1) Stock-based compensation in each category: | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
$ | 980 | | |
$ | 184 | | |
$ | 2,219 | | |
$ | 630 | |
| Sales and marketing | |
| 2,234 | | |
| 351 | | |
| 5,163 | | |
| 1,138 | |
| Product development | |
| 5,340 | | |
| 792 | | |
| 12,180 | | |
| 2,712 | |
| General and administrative | |
| 3,465 | | |
| 784 | | |
| 7,504 | | |
| 2,167 | |
WEIBO CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands of U.S. dollars)
| | |
As of | |
| | |
December 31, | | |
June 30, | |
| | |
2025 | | |
2026 | |
| Assets | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 2,298,941 | | |
$ | 1,639,148 | |
| Restricted cash | |
| - | | |
| 2,413 | |
| Short-term investments | |
| 106,139 | | |
| 997,443 | |
| Accounts receivable, net | |
| 400,209 | | |
| 337,565 | |
| Prepaid expenses and other current assets | |
| 330,356 | | |
| 338,480 | |
| Amount due from SINA(1) | |
| 441,143 | | |
| 440,269 | |
| Current assets subtotal | |
| 3,576,788 | | |
| 3,755,318 | |
| | |
| | | |
| | |
| Property and equipment, net | |
| 282,442 | | |
| 278,021 | |
| Goodwill and intangible assets, net | |
| 265,573 | | |
| 264,019 | |
| Long-term investments | |
| 1,663,346 | | |
| 1,602,826 | |
| Other non-current assets | |
| 1,303,037 | | |
| 1,245,549 | |
| Total assets | |
$ | 7,091,186 | | |
$ | 7,145,733 | |
| | |
| | | |
| | |
| Liabilities, Redeemable Non-controlling Interests and Shareholders’ Equity | |
| | | |
| | |
| Liabilities: | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
$ | 248,977 | | |
$ | 257,954 | |
| Accrued expenses and other current liabilities | |
| 648,492 | | |
| 629,964 | |
| Income taxes payable | |
| 80,049 | | |
| 58,565 | |
| Deferred revenues | |
| 78,315 | | |
| 100,160 | |
| Current liabilities subtotal | |
| 1,055,833 | | |
| 1,046,643 | |
| | |
| | | |
| | |
| Long-term liabilities: | |
| | | |
| | |
| Convertible senior notes | |
| 323,944 | | |
| 325,515 | |
| Unsecured senior notes | |
| 745,630 | | |
| 746,114 | |
| Long-term loans | |
| 793,976 | | |
| 795,808 | |
| Other long-term liabilities | |
| 164,240 | | |
| 166,215 | |
| Total liabilities | |
| 3,083,623 | | |
| 3,080,295 | |
| | |
| | | |
| | |
| Redeemable non-controlling interests | |
| 32,828 | | |
| 17,791 | |
| | |
| | | |
| | |
| Shareholders’ equity: | |
| | | |
| | |
| Weibo shareholders’ equity | |
| 3,920,729 | | |
| 3,991,172 | |
| Non-controlling interests | |
| 54,006 | | |
| 56,475 | |
| Total shareholders’ equity | |
| 3,974,735 | | |
| 4,047,647 | |
| Total liabilities, redeemable non-controlling interests and shareholders’ equity | |
$ | 7,091,186 | | |
$ | 7,145,733 | |
(1) Included
short-term loans to and interest receivable from SINA of US$401.9 million as of December 31, 2025 and US$397.0 million as of June 30,
2026.
WEIBO CORPORATION
UNAUDITED RECONCILIATION OF NON-GAAP
TO GAAP RESULTS
(In thousands of U.S. dollars and
in thousands for shares, except per share data)
| | |
Three months ended | | |
Six months ended | |
| | |
June 30, | | |
June 30, | | |
June 30, | | |
June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| Income from operations | |
$ | 145,570 | | |
$ | 118,859 | | |
$ | 255,880 | | |
$ | 229,780 | |
| Add:
Stock-based compensation | |
| 12,019 | | |
| 2,111 | | |
| 27,066 | | |
| 6,647 | |
| Amortization of intangible assets resulting from business acquisitions | |
| 4,161 | | |
| 4,410 | | |
| 8,283 | | |
| 8,755 | |
| Non-GAAP income from operations | |
$ | 161,750 | | |
$ | 125,380 | | |
$ | 291,229 | | |
$ | 245,182 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to Weibo’s shareholders | |
$ | 125,685 | | |
$ | 67,377 | | |
$ | 232,649 | | |
$ | 102,092 | |
| Add:
Stock-based compensation | |
| 12,019 | | |
| 2,111 | | |
| 27,066 | | |
| 6,647 | |
| Amortization of intangible assets resulting from business acquisitions | |
| 4,161 | | |
| 4,410 | | |
| 8,283 | | |
| 8,755 | |
| Investment related gain/loss, net (1) | |
| 3,112 | | |
| 22,755 | | |
| (5,245 | ) | |
| 57,786 | |
| Non-GAAP to GAAP reconciling items on the share of equity method investments | |
| (2,642 | ) | |
| 6,489 | | |
| (1,603 | ) | |
| 24,265 | |
| Non-GAAP to GAAP reconciling items for the income/loss attributable to non-controlling interests | |
| (578 | ) | |
| (530 | ) | |
| (1,070 | ) | |
| (1,054 | ) |
| Tax effects on non-GAAP adjustments (2) | |
| (485 | ) | |
| (1,893 | ) | |
| (1,219 | ) | |
| (7,787 | ) |
| Amortization of issuance cost of convertible senior notes, unsecured senior notes and long-term loans | |
| 1,943 | | |
| 1,943 | | |
| 3,886 | | |
| 3,886 | |
| Non-GAAP net income attributable to Weibo’s shareholders | |
$ | 143,215 | | |
$ | 102,662 | | |
$ | 262,747 | | |
$ | 194,590 | |
| | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP diluted net income per share attributable to Weibo’s shareholders | |
$ | 0.54 | * | |
$ | 0.38 | * | |
$ | 0.99 | * | |
$ | 0.73 | * |
| | |
| | | |
| | | |
| | | |
| | |
| Shares used in computing GAAP diluted net income per share attributable to Weibo’s shareholders | |
| 268,346 | | |
| 271,550 | | |
| 267,429 | | |
| 270,841 | |
| Shares used in computing non-GAAP diluted net income per share attributable to Weibo’s shareholders | |
| 268,346 | | |
| 271,550 | | |
| 267,429 | | |
| 270,841 | |
| | |
| | | |
| | | |
| | | |
| | |
| Adjusted EBITDA: | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to Weibo’s shareholders | |
$ | 125,685 | | |
$ | 67,377 | | |
$ | 232,649 | | |
$ | 102,092 | |
| Non-GAAP adjustments | |
| 17,530 | | |
| 35,285 | | |
| 30,098 | | |
| 92,498 | |
| Non-GAAP net income attributable to Weibo’s shareholders | |
| 143,215 | | |
| 102,662 | | |
| 262,747 | | |
| 194,590 | |
| Interest income, net | |
| (10,098 | ) | |
| (5,396 | ) | |
| (24,084 | ) | |
| (3,002 | ) |
| Income tax expenses | |
| 32,190 | | |
| 24,851 | | |
| 57,215 | | |
| 46,417 | |
| Depreciation expenses | |
| 10,363 | | |
| 11,049 | | |
| 19,512 | | |
| 21,914 | |
| Adjusted EBITDA | |
$ | 175,670 | | |
$ | 133,166 | | |
$ | 315,390 | | |
$ | 259,919 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net revenues | |
$ | 444,798 | | |
$ | 453,826 | | |
$ | 841,653 | | |
$ | 875,151 | |
| | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP operating margin | |
| 36 | % | |
| 28 | % | |
| 35 | % | |
| 28 | % |
| (1) | To adjust impairment and provision on investments, gain/loss on
sale of investments and fair value change of investments. |
| (2) | To adjust the income tax effects of non-GAAP adjustments, which
primarily related to amortization of intangible assets resulting from business acquisitions and fair value change of investments. Other
non-GAAP adjustment items have no tax effect, because (i) they were recorded in entities established in tax free jurisdictions,
or (ii) full valuation allowances were provided for related deferred tax assets as it is more-likely-than-not they will not be realized. |
| * | Net income attributable to Weibo’s shareholders is adjusted
for interest expense of convertible senior notes for calculating diluted EPS. |
WEIBO CORPORATION
UNAUDITED ADDITIONAL INFORMATION
(In thousands of U.S. dollars)
| | |
Three months ended | | |
Six months ended | |
| | |
June 30, | | |
June 30, | | |
June 30, | | |
June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| Net revenues | |
| | | |
| | | |
| | | |
| | |
| Advertising and marketing | |
| | | |
| | | |
| | | |
| | |
| Non-Ali advertisers | |
$ | 347,610 | | |
$ | 341,815 | | |
$ | 644,104 | | |
$ | 668,318 | |
| Alibaba | |
| 35,742 | | |
| 39,159 | | |
| 78,354 | | |
| 82,411 | |
| Subtotal | |
| 383,352 | | |
| 380,974 | | |
| 722,458 | | |
| 750,729 | |
| | |
| | | |
| | | |
| | | |
| | |
| Value-added services | |
| 61,446 | | |
| 72,852 | | |
| 119,195 | | |
| 124,422 | |
| | |
$ | 444,798 | | |
$ | 453,826 | | |
$ | 841,653 | | |
$ | 875,151 | |
