The following is a summary of the Weibo Corporation (WB) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Weibo reported total Q1 2024 revenues of $395.5 million with their ad revenues being major contributors at $339 million.

• Non-GAAP operating income was $125.8 million, representing a slightly increased non-GAAP operating margin of 32% year-over-year.

• A net income of $106.6 million was recorded, indicating a net margin of 27%.

Business Progress:

• User engagement has been one of Weibo's focuses, as evident by their Monthly Active Users hitting 588 million and daily active usage reaching 255 million.

• They have shifted strategy to acquiring high-quality users by optimizing their channel strategy and utilizing social features and trendy topics.

• Despite a decrease in certain sectors like cosmetics and beauty affecting revenue growth, improved operating efficiency and stable profitability have allowed the company to maintain a good operating profit.

• The company has adjusted their advertisement strategy to be more effective by utilizing branding promotions and live streaming.

• Focus has been placed on hot trends and program-centric promotions, improving their vertical content ecosystem.

• The company expects increased demand from various sectors including footwear, food and beverage, and gaming in the second half of the year.

More details: Weibo IR

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