Weibo-SW (09898) announced financial results for the third quarter of 2024. The group achieved a net revenue of 4.6 during the period...
According to the Zhitong Finance App, Weibo-SW (09898) announced financial results for the third quarter of 2024. The group achieved net revenue of 0.464 billion US dollars during the period, an increase of 5.05% over the previous year; net profit attributable to Weibo shareholders of 0.131 billion US dollars, an increase of 68.5% year on year; and basic net income per share of 0.55 US dollars.
In the first three quarters of 2024, net revenue was 1.298 billion US dollars, up 0.13% year on year; net profit attributable to Weibo shareholders was 0.292 billion US dollars, up 12.56% year on year; and basic net income per share was 1.23 billion US dollars.
According to the announcement, the number of monthly active users in September 2024 was 0.587 billion, and the average number of daily active users in September 2024 was 0.257 billion.
Advertising and marketing revenue for the third quarter of 2024 was $0.399 billion, up 2% from $0.389 billion in the same period last year. Advertising and marketing revenue (excluding advertising revenue from Alibaba) was $0.377 billion, up 3% from $0.368 billion in the same period last year.
“Our performance has been steady this quarter,” said Wang Gaofei, CEO of Weibo. “On the user side, we continue to work to increase the acquisition and engagement of high-quality users. In terms of monetization, our advertising business performed steadily this quarter. Driven by advertising demand during the Summer Olympics, advertising revenue in some key industries achieved strong growth. At the same time, our value-added service business also experienced good growth this quarter, thanks to the upgrade of membership services, which better met users' social interaction needs on the platform.”