Weibo share: quarterly figures
The short message service Weibo Corp. (Nasdaq: WB, ISIN: US9485961018) reported net sales of 437.873 million US dollars in the second quarter of 2024, a decrease of one percent year-on-year (previous quarter: 395.497 million US dollars).
The Chinese microblogging platform once again reported negative sales growth.
In the previous quarter, the company recorded a sales decline of four percent compared to the previous year (Q4 2023: plus three percent, Q3: minus three percent, Q2: minus two percent, Q1: minus 15 percent).
Weibo’s revenue in the Advertising & Marketing segment amounted to 375.277 million US dollars (down three percent). The Value-Added Service (“VAS”) segment generated revenue of 62.596 million US dollars (up 15 percent).
The short message platform generated an operating profit of 135.385 million US dollars (previous quarter: 99.737 million US dollars, previous year: 123.453 million US dollars). The operating margin was thus 31 percent (previous quarter: 25 percent, previous year: 28 percent).
The company’s net income for the reporting period was USD 113.537 million (previous year: USD 84.170 million). This means that (diluted) earnings per share amounted to USD 0.43 (previous year: USD 0.34).
