Weibo's net profit in the third quarter was US$136.6 million, a year-on-year increase of 17%, and its monthly active users exceeded 600 million

According to news from this site on November 9, Weibo Company today released its unaudited financial results for the third quarter of 2023, revenue was US$442.2 million (notes from this site: currently approximately 3.219 billion yuan) , a year-on-year decrease of 3%, and a year-on-year increase of 2% based on constant exchange rates.

Advertising and marketing revenue was US$389.3 million (currently approximately 2.834 billion yuan), down 1% year-over-year and up 3% year-over-year at constant exchange rates.

Value-added service revenue was US$52.9 million (approximately 385 million yuan), a decrease of 12% compared with last year, and a year-on-year decrease of 7% based on constant exchange rates

Operating profit was 134 million US dollars (currently about 976 million yuan), with an operating profit margin of 30%. Net profit attributable to Weibo shareholders was US$77.5 million (currently approximately 564 million yuan), and diluted net profit per share was US$0.32.

Non-GAAP operating profit was US$163.9 million (currently approximately 1.193 billion yuan), and non-GAAP operating profit margin was 37%. Non-GAAP net profit attributable to Weibo shareholders was US$136.6 million (currently approximately 994 million yuan), a year-on-year increase of 17%, and non-GAAP diluted net profit per share was US$0.57.

As of the end of September 2023, Weibo’s monthly active users (MAU) were 605 million, a year-on-year net increase of approximately 21 million. Mobile MAUs account for 95% of MAUs.

In September 2023, Weibo’s average daily active users (DAU) were 260 million, a year-on-year net increase of approximately 8 million users.

Weibo CEO Wang Gaofei said: "This quarter we have further improved the platform's traffic structure and improved operational efficiency. In terms of users, our monthly active users have exceeded the 600 million mark. In terms of content operations, , we are focused on strengthening our content ecosystem by developing key content verticals, aiming to drive traffic growth in various content verticals, increase user engagement and unlock the monetization potential of our platform. In terms of monetization, our advertising business this quarter Showing a moderate recovery. We also achieved further expansion of profit margins through solid implementation of efficiency measures. This quarter's operating profit margin and non-GAAP operating profit margin reached 30% and 37% respectively."

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