Press Release: Weibo Announces Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results and Annual Dividend

Dow Jones
Mar 18

BEIJING, March 18, 2026 /PRNewswire/ -- 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 fourth quarter and fiscal year ended December 31, 2025 and annual dividend.

"We ended the year 2025 with solid performance in the fourth quarter," said Gaofei Wang, CEO of Weibo. "On the user front, we focused on enhancing user value through reinforcing our social features and optimizing recommendation content ecosystem to improve content consumption. On the AI technology front, we continued to see robust growth of the user scale and search queries of our intelligent search function throughout this year, which further enhanced users' content consumption efficiency and drove more coherent and in-depth search demands on the platform. On the monetization front, our advertising business exhibited stabilized trend in 2025, driven by strong performance of certain key industries. We continued to beef up our efforts in strengthening our position in content marketing and strengthening AI capability to improve advertising efficiency. As our commitment to enhancing shareholder return, we are pleased to announce that our board of directors has approved an annual dividend payout of US$150 million to our shareholders for fiscal year 2025."

Fourth Quarter 2025 Highlights

   -- Net revenues were US$473.3 million, an increase of 4% year-over-year or 
      an increase of 1% year-over-year on a constant currency basis [1]. 
 
   -- Advertising and marketing revenues were US$403.8 million, an increase of 
      5% year-over-year or an increase of 2% year-over-year on a constant 
      currency basis [1]. 
 
   -- Value-added services ("VAS") revenues were US$69.5 million, a decrease of 
      2% year-over-year or a decrease of 4% year-over-year on a constant 
      currency basis [1]. 
 
   -- Income from operations was US$91.6 million, representing an operating 
      margin of 19%. 
 
   -- Net loss attributable to Weibo's shareholders was US$4.7 million and 
      diluted net loss per share was US$0.02. 
 
   -- Non-GAAP income from operations was US$100.4 million, representing a 
      non-GAAP operating margin of 21%. 
 
   -- Non-GAAP net income attributable to Weibo's shareholders was US$66.4 
      million and non-GAAP diluted net income per share was US$0.25. 
 
   -- Monthly active users ("MAUs") were 567 million in December 2025. 
 
   -- Average daily active users ("DAUs") were 252 million in December 2025. 
 
([1]) We define constant currency (non-GAAP) by assuming that the average 
exchange rate in the fourth quarter of 2025 had been the same as it was in the 
fourth quarter of 2024, or RMB7.17=US$1.00. 
 

Fiscal Year 2025 Highlights

   -- Net revenues were US$1.76 billion, flat year-over-year and flat 
      year-over-year on a constant currency basis [2]. 
 
   -- Advertising and marketing revenues were US$1.50 billion, flat 
      year-over-year and flat year-over-year on a constant currency basis [2]. 
 
   -- Value-added services ("VAS") revenues were US$255.6 million, flat 
      year-over-year and flat year-over-year on a constant currency basis [2]. 
 
   -- Income from operations was US$464.8 million, representing an operating 
      margin of 26%. 
 
   -- Net income attributable to Weibo's shareholders was US$449.0 million and 
      diluted net income per share was US$1.70. 
 
   -- Non-GAAP income from operations was US$523.6 million, representing a 
      non-GAAP operating margin of 30%. 
 
   -- Non-GAAP net income attributable to Weibo's shareholders was US$439.8 
      million and non-GAAP diluted net income per share was US$1.65. 
 
([2]) We define constant currency (non-GAAP) by assuming that the average 
exchange rate of 2025 had been the same as it was in 2024, or 
RMB7.18=US$1.00. 
 

Fourth Quarter 2025 Financial Results

For the fourth quarter of 2025, Weibo's total net revenues were US$473.3million, an increase of 4% compared to US$456.8 million for the same period last year.

Advertising and marketing revenues for the fourth quarter of 2025 were US$403.8 million, an increase of 5% compared to US$385.9 million for the same period last year. The increase was primarily driven by robust growth of advertising revenues from the ecommerce and local service sectors. Advertising and marketing revenues excluding advertising revenues from Alibaba were US$353.8 million, an increase of 2% compared to US$345.5 million for the same period last year.

VAS revenues for the fourth quarter of 2025 were US$69.5 million, a decrease of 2% year-over-year compared to US$71.0 million for the same period last year.

Costs and expenses for the fourth quarter of 2025 totaled US$381.7 million, an increase of 13% compared to US$338.9 million for the same period last year. The increase was mainly resulted from increased ad production cost and marketing expense.

Income from operations for the fourth quarter of 2025 was US$91.6 million, compared to US$117.9 million for the same period last year. Operating margin was 19%, compared to 26% last year. Non-GAAP income from operations was US$100.4 million, compared to US$136.2 million for the same period last year. Non-GAAP operating margin was 21%, compared to 30% last year.

Non-operating loss for the fourth quarter of 2025 was US$57.6 million, compared to non-operating loss of US$85.1 million for the same period last year. Non-operating loss for the fourth quarter of 2025 mainly included (i) net interest and other loss of US$28.4 million; and (ii) loss from fair value change of investments of US$28.1 million, which was excluded under non-GAAP measures.

Income tax expenses for the fourth quarter of 2025 were US$31.3 million, compared to US$20.0 million for the same period last year. The increase of tax expense was primarily due to increased withholding tax accrued related to all of the Company's wholly-foreign owned enterprises' ("WFOE") earnings, to be remitted to Weibo Hong Kong Limited in the foreseeable future to fund its demand for U.S. dollars in business operations and potential investments, etc.

Net loss attributable to Weibo's shareholders for the fourth quarter of 2025 was US$4.7 million, compared to net income of US$8.9 million for the same period last year. Diluted net loss per share attributable to Weibo's shareholders for the fourth quarter of 2025 was US$0.02, compared to diluted net income per share attributable to Weibo's shareholders of US$0.04 for the same period last year. Non-GAAP net income attributable to Weibo's shareholders for the fourth quarter of 2025 was US$66.4 million, compared to US$106.6 million for the same period last year. Non-GAAP diluted net income per share attributable to Weibo's shareholders for the fourth quarter of 2025 was US$0.25, compared to US$0.40 for the same period last year.

As of December 31, 2025, Weibo's cash, cash equivalents and short-term investments totaled US$2.4 billion. For the fourth quarter of 2025, cash provided by operating activities was US$181.4 million, capital expenditures totaled US$10.4 million, and depreciation and amortization expenses amounted to US$15.3 million.

Fiscal Year 2025 Financial Results

For fiscal year 2025, Weibo's total net revenues were US$1.76 billion, relatively flat compared to US$1.75 billion in 2024.

Advertising and marketing revenues for 2025 were US$1.50 billion, relatively flat compared to US$1.50 billion in 2024. Advertising and marketing revenues excluding advertising revenues from Alibaba were US$1.33 billion, a decrease of 4% compared to US$1.38 billion for 2024.

VAS revenues for 2025 were US$255.6 million, relatively flat compared to US$256.0 million for 2024.

Costs and expenses for 2025 totaled US$1.29 billion, an increase of 3% compared to US$1.26 billion for 2024.

Income from operations for 2025 was US$464.8 million, compared to US$494.3 million for 2024. Operating margin for 2025 was 26%, compared to 28% last year. Non-GAAP income from operations was US$523.6 million, compared to US$584.1 million for 2024. Non-GAAP operating margin was 30%, compared to 33% last year.

Non-operating income for 2025 was US$140.8 million, compared to non-operating loss of US$73.7 million for 2024. Non-operating income in 2025 mainly included (i) net interest and other income of US$125.0 million, compared to US$0.9 million last year, with the increase mainly due to the equity pick up gain of US$76.7 million in 2025, compared to equity pick up loss of US$12.2 million in 2024; (ii) gain from fair value change of investments of US$21.3 million, which was excluded under non-GAAP measures; and (iii) investment related impairment of US$6.0 million, which was excluded under non-GAAP measures.

Income tax expenses for 2025 were US$144.5 million, compared to US$110.6 million for 2024. The increase was primarily due to i) increased withholding tax accrued related to all of the Company's WFOEs' earnings, to be remitted to Weibo Hong Kong Limited in the foreseeable future to fund its demand for U.S. dollars in business operations and potential investments, etc.; and ii) the recognition of deferred tax liability related to equity pick up gains in 2025.

Net income attributable to Weibo's shareholders for 2025 was US$449.0 million, compared to US$300.8 million for 2024. Diluted net income per share attributable to Weibo's shareholders for 2025 was US$1.70, compared to US$1.16 for 2024. Non-GAAP net income attributable to Weibo's shareholders for 2025 was US$439.8 million, compared to US$478.6 million for 2024. Non-GAAP diluted net income per share attributable to Weibo's shareholders for 2025 was US$1.65, compared to US$1.82 for 2024.

For fiscal year 2025, cash provided by operating activities was US$519.5 million, compared to US$639.9 million for 2024. Capital expenditures totaled US$42.4 million, and depreciation and amortization expenses amounted to US$59.1 million.

Annual Cash Dividend

The Company announced that its board of directors (the "Board") approved an annual cash dividend for the year ended December 31, 2025 of US$0.61 per ordinary share, or US$0.61 per ADS, to holders of ordinary shares and holders of ADSs, respectively, as of the close of business on April 17, 2026 Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of cash dividends to be paid will be approximately US$150 million. For holders of Class A ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, no later than 4:30 p.m. on April 17, 2026 (Beijing/Hong Kong Time). The payment date is expected to be on or around May 15, 2026 for holders of ordinary shares and on or around May 22, 2026 for holders of ADSs.

Conference Call

Weibo's management team will host a conference call from 7:00 AM to 8:00 AM Eastern Time on March 18, 2026 (or 7:00 PM to 8:00 PM Beijing Time on March 18, 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 instruction will be in the confirmation email upon registering.

Participants Registration Link: https://register-conf.media-server.com/register/BI9a9688ac375946edb8d4042347b0d850

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 expense 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 conform 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

Phone: +86 10 5898-3336

Email: ir@staff.weibo.com

 
                                                         WEIBO CORPORATION 
                                     UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
                                       (In thousands of U.S. dollars, except per share data) 
 
 
                                               Three months ended                               Twelve months ended 
                                 ----------------------------------------------  ------------------------------------------------- 
                                     December 31,            December 31,             December 31,             December 31, 
                                         2024                    2025                     2024                     2025 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
Net revenues: 
    Advertising and marketing        $         385,850        $         403,799        $      1,498,693        $         1,501,630 
    Value-added services                        70,977                   69,459                 255,984                    255,586 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
 Net revenues                                  456,827                  473,258               1,754,677                  1,757,216 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
 
Costs and expenses: 
    Cost of revenues (1)                       100,529                  123,396                 369,521                    421,837 
    Sales and marketing (1)                    139,863                  153,478                 480,791                    490,434 
    Product development (1)                     75,921                   92,224                 308,747                    324,222 
    General and administrative 
     (1)                                        22,634                   12,557                 101,294                     55,898 
 Total costs and expenses                      338,947                  381,655               1,260,353                  1,292,391 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
Income from operations                         117,880                   91,603                 494,324                    464,825 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
 
Non-operating income (loss): 
    Investment related income 
     (loss), net                              (86,737)                 (29,186)                (74,557)                     15,792 
    Interest and other income 
     (loss), net                                 1,618                 (28,402)                     888                    124,979 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
                                              (85,119)                 (57,588)                (73,669)                    140,771 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
 
Income before income tax 
 expenses                                       32,761                   34,015                 420,655                    605,596 
    Less: Income tax expenses                   20,034                   31,283                 110,550                    144,521 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
 
Net income                                      12,727                    2,732                 310,105                    461,075 
    Less: Net income 
     attributable to 
     non-controlling interests                     992                    1,335                   2,556                      2,968 
              Accretion to 
               redeemable 
               non-controlling 
               interests                         2,870                    6,119                   6,748                      9,087 
                                 ---------------------  -----------------------  ----------------------  ------------------------- 
Net income (loss) attributable 
 to Weibo's shareholders          $              8,865     $            (4,722)      $          300,801       $            449,020 
                                 =====================  =======================  ======================  ========================= 
 
 
Basic net income (loss) per 
 share attributable to Weibo's 
 shareholders                    $                0.04   $               (0.02)  $                 1.27   $                   1.88 
Diluted net income (loss) per 
 share attributable to Weibo's 
 shareholders                    $                0.04   $               (0.02)  $                 1.16   $                   1.70 
 
Shares used in computing basic 
net income (loss) per share 
attributable 
   to Weibo's shareholders                     237,970                  239,281                 237,324                    238,787 
Shares used in computing 
diluted net income (loss) per 
share attributable 
   to Weibo's shareholders                     239,983                  239,281                 265,241                    268,560 
 
(1) Stock-based compensation in 
each category: 
 Cost of revenues                $               1,115  $                   429  $                5,954  $                   3,502 
 Sales and marketing                             2,553                      768                  13,041                      7,901 
 Product development                             6,079                    1,868                  33,403                     18,537 
 General and administrative                      3,650                    1,512                  17,316                     12,127 
 
 
                         WEIBO CORPORATION 
          UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 
                   (In thousands of U.S. dollars) 
 
                                             As of 
                           ----------------------------------------- 
                               December 31,         December 31, 
                                   2024                 2025 
                           --------------------  ------------------- 
 
                               Assets 
 Current assets: 
   Cash and cash 
    equivalents              $        1,890,632   $        2,298,941 
   Short-term investments               459,852              106,139 
   Accounts receivable, 
    net                                 339,754              400,209 
   Prepaid expenses and 
    other current assets                348,774              330,356 
   Amount due from 
    SINA(1)                             452,769              441,143 
                           -------------------- 
        Current assets 
         subtotal                     3,491,781            3,576,788 
 
 Property and equipment, 
  net                                   215,034              282,442 
 Goodwill and intangible 
  assets, net                           272,004              265,573 
 Long-term investments                1,389,199            1,663,346 
 Other non-current assets             1,136,481            1,303,037 
                           -------------------- 
 Total assets                $        6,504,499   $        7,091,186 
                           ====================  =================== 
 
Liabilities, Redeemable Non-controlling Interests and Shareholders' 
                               Equity 
 Liabilities: 
  Current liabilities: 
   Accounts payable        $            158,435  $           248,977 
   Accrued expenses and 
    other current 
    liabilities                         652,369              648,492 
   Income tax payable                    84,690               80,049 
   Deferred revenues                     72,642               78,315 
       Current 
        liabilities 
        subtotal                        968,136            1,055,833 
 
  Long-term liabilities: 
   Convertible senior 
    notes                               320,803              323,944 
   Unsecured senior notes               744,662              745,630 
   Long-term loans                      795,311              793,976 
   Other long-term 
    liabilities                          96,701              164,240 
                           -------------------- 
       Total liabilities              2,925,613            3,083,623 
                           --------------------  ------------------- 
 
 Redeemable 
  non-controlling 
  interests                              45,103               32,828 
                           --------------------  ------------------- 
 
 Shareholders' equity : 
  Weibo shareholders' 
   equity                             3,482,771            3,920,729 
  Non-controlling 
   interests                             51,012               54,006 
                           --------------------  ------------------- 
   Total shareholders' 
    equity                            3,533,783            3,974,735 
                           --------------------  ------------------- 
 Total liabilities, 
  redeemable 
  non-controlling 
  interests and 
     shareholders' 
  equity                     $        6,504,499   $        7,091,186 
                           ====================  =================== 
 
 
 (1) Included short-term loans to and interest receivable from SINA 
  of US$417.7 million as of December 31, 2024 and US$401.9 million 
  as of December 31, 2025. 
 
 
                              WEIBO CORPORATION 
             UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS 
            (In thousands of U.S. dollars, except per share data) 
 
                             Three months ended       Twelve months ended 
                            ---------------------   ----------------------- 
                            December    December     December     December 
                               31,         31,         31,          31, 
                              2024        2025         2024         2025 
                            ---------   ---------   ----------   ---------- 
 
Income from operations      $ 117,880   $  91,603   $  494,324   $  464,825 
        Stock-based 
  Add:   compensation          13,397       4,577       69,714       42,067 
 Amortization of 
  intangible 
  assets resulting 
  from business 
  acquisitions                  4,874       4,247       20,056       16,727 
Non-GAAP income from 
 operations                 $ 136,151   $ 100,427   $  584,094   $  523,619 
                             ========    ========    =========    ========= 
 
Net income (loss) 
 attributable to Weibo's 
 shareholders               $   8,865   $ (4,722)   $  300,801   $  449,020 
        Stock-based 
  Add:   compensation          13,397       4,577       69,714       42,067 
 Amortization of 
  intangible 
  assets resulting 
  from business 
   acquisitions                 4,874       4,247       20,056       16,727 
 Investment 
  related 
  gain/loss, net 
  (1)                          86,737      29,186       74,557     (15,792) 
 Non-GAAP to GAAP 
  reconciling 
  items on the 
  share of equity 
   method 
  investments                 (5,598)      44,959       13,323     (71,866) 
 Non-GAAP to GAAP 
  reconciling 
  items for the 
  income/loss 
   attributable to 
  non-controlling 
  interests                     (346)       (511)      (1,718)      (2,086) 
 Tax effects on 
  non-GAAP 
  adjustments (2)             (3,284)    (13,278)      (6,581)       14,004 
 Amortization 
  of issuance cost 
  of convertible 
  senior notes, 
  unsecured 
   senior notes 
  and long-term 
  loans                         1,943       1,943        8,485        7,772 
Non-GAAP net income 
 attributable to Weibo's 
 shareholders               $ 106,588   $  66,401   $  478,637   $  439,846 
                             ========    ========    =========    ========= 
 
Non-GAAP diluted net 
 income per share 
 attributable to Weibo's 
  shareholders              $    0.40  *$    0.25  *$     1.82  *$     1.65  * 
 
Shares used in computing 
 GAAP diluted net income 
 (loss) per share 
 attributable  to Weibo's 
 shareholders                 239,983     239,281      265,241      268,560 
        The number of 
         shares for 
         dilution 
         resulted from 
         convertible 
         senior notes 
  Add:   (3)                   26,411      29,492            -            - 
 The number of 
  shares for 
  dilution 
  resulted from 
  stock options 
  and  unvested 
  restricted share 
  units (3)                         -       1,191            -            - 
Shares used in computing 
 non-GAAP diluted net 
 income per share 
  attributable to Weibo's 
 shareholders                 266,394     269,964      265,241      268,560 
                             ========    ========    =========    ========= 
 
Adjusted EBITDA: 
 Net income (loss) 
  attributable to 
  Weibo's 
  shareholders              $   8,865   $ (4,722)   $  300,801   $  449,020 
 Non-GAAP 
  adjustments                  97,723      71,123      177,836      (9,174) 
                             --------    --------    ---------    --------- 
 Non-GAAP net 
  income 
  attributable to 
  Weibo's 
  shareholders                106,588      66,401      478,637      439,846 
  Interest income, 
   net                        (1,514)    (12,942)     (26,423)     (42,158) 
  Income tax 
   expenses                    23,318      44,561      117,131      130,517 
  Depreciation 
   expenses                     9,248      10,763       36,819       41,254 
 Adjusted EBITDA            $ 137,640   $ 108,783   $  606,164   $  569,459 
                             ========    ========    =========    ========= 
 
Net revenues                $ 456,827   $ 473,258   $1,754,677   $1,757,216 
 
Non-GAAP operating margin        30 %        21 %         33 %         30 % 
 
   (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. 
 
   (3)  To adjust the number of shares for dilution resulted from 
         convertible debt, stock options and unvested restricted share 
         units which were anti-dilutive under GAAP measures. 
 
  *     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                  Twelve months ended 
                     ------------------------------------  ---------------------------------- 
                       December 31,       December 31,       December 31,      December 31, 
                           2024               2025               2024              2025 
                     -----------------  -----------------  ----------------  ---------------- 
 
Net revenues 
 Advertising and 
 marketing 
     Non-Ali 
      advertisers    $         345,528  $         353,803  $      1,381,908  $      1,327,796 
     Alibaba                    40,322             49,996           116,785           173,834 
                     -----------------  -----------------  ----------------  ---------------- 
         Subtotal              385,850            403,799         1,498,693         1,501,630 
 
 Value-added 
  services                      70,977             69,459           255,984           255,586 
                     -----------------  -----------------  ----------------  ---------------- 
                     $         456,827  $         473,258  $      1,754,677  $      1,757,216 
                     =================  =================  ================  ================ 
 

View original content:https://www.prnewswire.com/news-releases/weibo-announces-fourth-quarter-and-fiscal-year-2025-unaudited-financial-results-and-annual-dividend-302717194.html

SOURCE Weibo Corporation

 

(END) Dow Jones Newswires

March 18, 2026 05:00 ET (09:00 GMT)

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