BEIJING, May 11, 2016 /PRNewswire/ -- Weibo Corporation
("Weibo" or the "Company") (NASDAQ: WB), a leading social media in
China, today announced its
unaudited financial results for the first quarter ended
March 31, 2016.
First Quarter 2016 Highlights
- Net revenues increased 24% year over year to $119.3 million, exceeding the Company's guidance
between $111 million and $116
million.
- Advertising and marketing revenue increased 25% year over year
to $99.2 million.
- Weibo Value-Added Services ("VAS") revenue increased 17% year
over year to $20.0 million.
- Net income attributable to Weibo was $7.1 million, or diluted net income per share was
$0.03, compared to a net loss of
$3.1 million, or diluted net loss per
share of $0.01 for the same period
last year.
- Non-GAAP net income attributable to Weibo increased 491% year
over year to $16.4 million, and
non-GAAP diluted net income per share increased 483% year over year
to $0.07.
- Adjusted EBITDA increased 182% year over year to $19.0 million, or 16% of net revenues.
- Monthly active users ("MAUs") in March
2016 grew 32% year over year to 261 million, 85% of which
were mobile users. Average daily active users ("DAUs") in
March 2016 grew 35% year over year to
120 million.
"Weibo had a strong first quarter with key accounts and SME
advertising and marketing revenue together growing 97% year over
year and total advertisers reaching 832,000, up 114% year over
year. As we enter 2016, Weibo is well positioned from the growing
adoption of fans marketing in China and the shift of ad budget to mobile and
social platforms." said Gaofei Wang, Weibo's CEO. "In March,
Weibo's mobile DAUs grew 45% year over year and reached 91% of
total DAUs, highlighting Weibo's traffic momentum arising from high
mobile usage and penetration beyond tier 1 cities."
First Quarter 2016 Financial Results
For the first quarter of 2016, Weibo reported net revenues of
$119.3 million, compared to
$96.3 million for the same period
last year. Advertising and marketing revenue totaled $99.2 million, compared to $79.2 million for the same period last year.
Advertising and marketing revenue from key accounts and Small &
Medium-sized Enterprises (SME) was $88.1
million, compared to $44.7
million for the same period last year. Revenue from Alibaba
was $11.1 million, compared to
$34.5 million for the same period
last year, which was derived from a strategic collaboration
agreement that expired in January
2016. Weibo VAS revenue totaled $20.0
million, compared to $17.1
million for the same period last year.
Costs and expenses for the first quarter of 2016 totaled
$112.1 million, compared to
$100.8 million for the same period
last year. Non-GAAP costs and expenses were $103.4 million, compared to $94.9 million for the same period last year. The
increase in non-GAAP costs and expenses was primarily due to an
increase in bandwidth costs resulting from strong video consumption
and overall growth in traffic, increase in revenue share and value
added taxes associated with higher revenues, and higher
personnel-related costs.
Income from operations for the first quarter of 2016 was
$7.2 million, compared to a loss of
$4.5 million for the same period last
year. Non-GAAP income from operations was $15.9 million, compared to $1.4 million for the same period last year.
Non-operating income for the first quarter of 2016 was
$0.6 million, compared to a
non-operating income of $1.5 million
for the same period last year.
Net income attributable to Weibo for the first quarter of 2016
was $7.1 million, or diluted net
income per share of $0.03, compared
to a net loss of $3.1 million for the
same period last year, or diluted net loss per share of
$0.01. Non-GAAP net income
attributable to Weibo for the first quarter of 2016 was
$16.4 million, or diluted net income
per share of $0.07, compared to
$2.8 million for the same period last
year, or diluted net income per share of $0.01.
As of March 31, 2016, Weibo's
cash, cash equivalents and short-term investments totaled
$373.4 million. For the first quarter
of 2016, cash provided by operating activities was $40.0 million, capital expenditures totaled
$4.1 million, and depreciation and
amortization expenses amounted to $3.5
million.
Business Outlook
For the second quarter of 2016, Weibo estimates that its net
revenues to be between $138 million and $143
million. This forecast reflects Weibo's current and
preliminary view, which is subject to change.
Non-GAAP Measures
This release contains the following non-GAAP financial measures:
non-GAAP costs and expenses, non-GAAP income (loss) from
operations, non-GAAP net income (loss), non-GAAP diluted net income
(loss) per share attributable to Weibo 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 net of tax and gain
on the sale of investments and impairment on investments, net. In
addition, adjusted EBITDA excludes depreciation expenses, interest
income, net and income tax 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, if they so
choose. 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 measures to the
nearest comparable GAAP measures are set forth in the section below
titled "Unaudited Reconciliation of Non-GAAP to GAAP Results."
Conference Call
Weibo will host a conference call at 9PM
- 10PM Eastern Time on May 11,
2016 (or 9AM – 10 AM Beijing Time on May
12, 2016) to present an overview of the Company's financial
performance and business operations. A live webcast of the call
will be available through the Company's corporate website at
http://ir.weibo.com. The conference call can be accessed as
follows:
US Toll Free: +1 (888) 346-8982
Hong Kong Toll Free: +852 800-905-945
China Toll Free: +86 400-120-1203
International: +1 (412) 902-4272
Passcode for all regions: Weibo
A replay of the conference call will be available through
midnight Eastern Time, May 18, 2016. The dial-in number is +1 (412)
317-0088. The passcode for the replay is 10085931.
About Weibo Corporation
Weibo is a leading social media for people to create, share and
discover Chinese-language content. Weibo combines the means of
public self-expression in real time with a powerful platform for
social interaction, as well as content aggregation and
distribution. Any user can create and post a feed of up to 140
Chinese characters and attach multi-media or 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
variety of advertising and marketing solutions to its customers,
ranging from large brand advertisers to Alibaba/e-commerce
merchants to small and medium sized enterprises to individuals. The
Company generates a substantial majority of revenues from the sale
of advertising and marketing services, including the sale of social
display ads, promoted feeds and event-based ad solutions. Weibo has
developed and is continuously refining its social interest graph
recommendation engine, which enables its 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 that
relate to, among other things, Weibo's expected financial
performance and strategic and operational plans (as described,
without limitation, in the "Business Outlook" section and in
quotations from management in this press release. Weibo may also
make forward-looking statements in the Company's periodic reports
to the U.S. Securities and Exchange Commission ("SEC"), 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.
These forward-looking statements can be identified by terminology,
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "confidence," "estimates" and similar
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 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 develop the
small and medium enterprise market by the Company or through
cooperation with other parties, including Alibaba; 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 report on Form 20-F for the fiscal year ended December 31, 2015 filed with the SEC on
April 28, 2016 and other filings with
the SEC. 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 5898-3017
Email: ir@staff.weibo.com
WEIBO
CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
|
|
Three months
ended
|
|
March
31,
|
|
|
December
31,
|
|
|
2016
|
|
|
2015
|
|
|
2015
|
Net
revenues:
|
|
|
|
|
|
|
|
|
Advertising and
marketing
|
$
|
99,246
|
|
$
|
79,160
|
|
$
|
129,527
|
Weibo VAS
|
|
20,044
|
|
|
17,130
|
|
|
19,498
|
Total net revenues
|
|
119,290
|
|
|
96,290
|
|
|
149,025
|
|
|
|
|
|
|
|
|
|
Costs and
expenses:
|
|
|
|
|
|
|
|
|
Cost of revenues
(a)
|
|
36,626
|
|
|
28,925
|
|
|
42,105
|
Sales and marketing
(a)
|
|
30,041
|
|
|
31,186
|
|
|
36,253
|
Product development
(a)
|
|
36,934
|
|
|
34,328
|
|
|
36,614
|
General and
administrative (a)
|
|
8,538
|
|
|
6,372
|
|
|
8,265
|
Total costs and expenses
|
|
112,139
|
|
|
100,811
|
|
|
123,237
|
Income (loss) from
operations
|
|
7,151
|
|
|
(4,521)
|
|
|
25,788
|
|
|
|
|
|
|
|
|
|
Non-operating
income (loss):
|
|
|
|
|
|
|
|
|
Gain on sale of and impairment on investments, net
|
|
(868)
|
|
|
-
|
|
|
(7,207)
|
Interest and other income , net
|
|
1,420
|
|
|
1,456
|
|
|
1,443
|
|
|
552
|
|
|
1,456
|
|
|
(5,764)
|
|
|
|
|
|
|
|
|
|
Income (loss)
before income tax expenses
|
|
7,703
|
|
|
(3,065)
|
|
|
20,024
|
Income tax benefits
(expenses)
|
|
(548)
|
|
|
5
|
|
|
(1,152)
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
7,155
|
|
|
(3,060)
|
|
|
18,872
|
Less: Net income (loss) attributable to
noncontrolling interest
|
|
57
|
|
|
(10)
|
|
|
(250)
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Weibo
|
$
|
7,098
|
|
$
|
(3,050)
|
|
$
|
19,122
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income
(loss) per share attributable to Weibo
|
$
|
0.03
|
|
$
|
(0.01)
|
|
$
|
0.09
|
Diluted net income
(loss) per share attributable to Weibo
|
$
|
0.03
|
|
$
|
(0.01)
|
|
$
|
0.09
|
|
|
|
|
|
|
|
|
|
Shares used in
computing basic
|
|
|
|
|
|
|
|
|
net
income (loss) per share attributable to Weibo
|
|
212,269
|
|
|
204,985
|
|
|
210,764
|
Shares used in
computing diluted
|
|
|
|
|
|
|
|
|
net
income (loss) per share attributable to Weibo
|
|
219,626
|
|
|
204,985
|
|
|
219,464
|
|
|
|
|
|
|
|
|
|
(a) Stock-based
compensation in each category:
|
|
|
|
|
|
|
|
|
Cost
of revenues
|
$
|
508
|
|
$
|
252
|
|
$
|
275
|
Sales and marketing
|
|
1,018
|
|
|
694
|
|
|
856
|
Product development
|
|
3,555
|
|
|
2,308
|
|
|
2,473
|
General and administrative
|
|
3,406
|
|
|
2,293
|
|
|
3,006
|
WEIBO
CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
|
|
|
|
|
|
March
31,
|
|
December
31,
|
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
243,298
|
|
$
|
237,440
|
|
|
|
Short-term
investments
|
|
|
130,134
|
|
|
98,439
|
|
|
|
Accounts
receivable, net
|
|
|
90,147
|
|
|
120,230
|
|
|
|
Prepaid expenses
and other current assets
|
|
|
58,329
|
|
|
42,295
|
|
|
|
Current assets
subtotal
|
|
|
521,908
|
|
|
498,404
|
|
|
|
|
|
|
|
|
|
|
|
Property and
equipment, net
|
|
|
22,570
|
|
|
22,850
|
|
Goodwill and
intangible assets, net
|
|
|
12,724
|
|
|
13,083
|
|
Investments
|
|
|
299,794
|
|
|
294,679
|
|
Other
assets
|
|
|
5,594
|
|
|
10,173
|
|
Total
assets
|
|
$
|
862,590
|
|
$
|
839,189
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
Shareholders' Equity
|
Liabilities:
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
Accounts payable
*
|
|
$
|
42,874
|
|
$
|
40,456
|
|
|
|
Accrued
liabilities *
|
|
|
106,230
|
|
|
117,040
|
|
|
|
Deferred
revenues
|
|
|
37,357
|
|
|
39,091
|
|
|
|
Amount due to
SINA
|
|
|
26,061
|
|
|
12,188
|
|
|
|
Current liabilities
subtotal
|
|
|
212,522
|
|
|
208,775
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term deferred
revenue
|
|
|
|
|
|
|
|
|
Long-term
liability
|
|
|
2,238
|
|
|
2,385
|
|
|
|
Total
liabilities
|
|
|
214,760
|
|
|
211,160
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity :
|
|
|
|
|
|
|
|
|
Weibo
shareholders' equity
|
|
|
640,374
|
|
|
620,672
|
|
|
Non-controlling
interest
|
|
|
7,456
|
|
|
7,357
|
|
|
|
Total
shareholders' equity
|
|
|
647,830
|
|
|
628,029
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
$
|
862,590
|
|
$
|
839,189
|
|
|
* Commencing on
January 1, 2016, in order to enhance comparability with industry
peers, payables that have been invoiced or formally agreed with the
suppliers were recorded in accounts payable. To conform to current
period presentations, the relevant amounts in prior periods have
been reclassified from accrued liabilities accordingly. Such
reclassification amounted to $37.9 million as of December 31,
2015.
|
WEIBO
CORPORATION
UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS
(In thousands, except per share data)
|
|
|
|
Three months
ended
|
|
|
March 31,
2016
|
|
March 31,
2015
|
|
December 31,
2015
|
|
|
|
Non-GAAP
|
|
|
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
|
|
|
Non-GAAP
|
|
|
|
Actual
|
|
|
Adjustments
|
|
|
Results
|
|
|
Actual
|
|
|
Adjustments
|
|
|
Results
|
|
|
Actual
|
|
|
Adjustments
|
|
|
Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising and
marketing
|
$
|
99,246
|
|
|
|
|
$
|
99,246
|
|
$
|
79,160
|
|
|
|
|
$
|
79,160
|
|
$
|
129,527
|
|
|
|
|
$
|
129,527
|
Weibo
VAS
|
|
20,044
|
|
|
|
|
|
20,044
|
|
|
17,130
|
|
|
|
|
|
17,130
|
|
|
19,498
|
|
|
|
|
|
19,498
|
|
Net
revenues
|
$
|
119,290
|
|
|
|
|
$
|
119,290
|
|
$
|
96,290
|
|
|
|
|
$
|
96,290
|
|
$
|
149,025
|
|
|
|
|
$
|
149,025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8,487)
|
(a)
|
|
|
|
|
|
|
|
(5,547)
|
(a)
|
|
|
|
|
|
|
|
(6,610)
|
(a)
|
|
|
|
|
|
|
|
|
(241)
|
(b)
|
|
|
|
|
|
|
|
(371)
|
(b)
|
|
|
|
|
|
|
|
(359)
|
(b)
|
|
|
Total costs and
expenses
|
$
|
112,139
|
|
$
|
(8,728)
|
|
$
|
103,411
|
|
$
|
100,811
|
|
$
|
(5,918)
|
|
$
|
94,893
|
|
$
|
123,237
|
|
$
|
(6,969)
|
|
$
|
116,268
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,487
|
(a)
|
|
|
|
|
|
|
|
5,547
|
(a)
|
|
|
|
|
|
|
|
6,610
|
(a)
|
|
|
|
|
|
|
|
|
241
|
(b)
|
|
|
|
|
|
|
|
371
|
(b)
|
|
|
|
|
|
|
|
359
|
(b)
|
|
|
Income (loss) from
operations
|
$
|
7,151
|
|
$
|
8,728
|
|
$
|
15,879
|
|
$
|
(4,521)
|
|
$
|
5,918
|
|
$
|
1,397
|
|
$
|
25,788
|
|
$
|
6,969
|
|
$
|
32,757
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,487
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,610
|
(a)
|
|
|
|
|
|
|
|
|
181
|
(b)
|
|
|
|
|
|
|
|
5,547
|
(a)
|
|
|
|
|
|
|
|
269
|
(b)
|
|
|
|
|
|
|
|
|
868
|
(c)
|
|
|
|
|
|
|
|
279
|
(b)
|
|
|
|
|
|
|
|
7,207
|
(c)
|
|
|
|
|
|
|
|
|
(280)
|
(d)
|
|
|
|
|
|
|
|
(10)
|
(d)
|
|
|
|
|
|
|
|
(267)
|
(d)
|
|
|
Net income (loss)
attributable to Weibo
|
$
|
7,098
|
|
$
|
9,256
|
|
$
|
16,354
|
|
$
|
(3,050)
|
|
$
|
5,816
|
|
$
|
2,766
|
|
$
|
19,122
|
|
$
|
13,819
|
|
$
|
32,941
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income
(loss) per share
attributable to Weibo
|
$
|
0.03
|
|
|
|
|
$
|
0.07
|
|
$
|
(0.01)
|
|
|
|
|
$
|
0.01
|
|
$
|
0.09
|
|
|
|
|
$
|
0.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
net income (loss) per share attributable to Weibo
|
|
219,626
|
|
|
|
|
|
219,626
|
|
|
204,985
|
|
|
11,488
|
(e)
|
|
216,473
|
|
|
219,464
|
|
|
|
|
|
219,464
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
EBITDA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income
|
|
|
|
|
|
|
$
|
16,354
|
|
|
|
|
|
|
|
$
|
2,766
|
|
|
|
|
|
|
|
$
|
32,941
|
|
Interest income, net
|
|
|
|
|
|
|
|
(1,300)
|
|
|
|
|
|
|
|
|
(1,381)
|
|
|
|
|
|
|
|
|
(1,152)
|
|
Income tax expenses
|
|
|
|
|
|
|
|
608
|
|
|
|
|
|
|
|
|
88
|
|
|
|
|
|
|
|
|
1,242
|
|
Depreciation expenses
|
|
|
|
|
|
|
|
3,300
|
|
|
|
|
|
|
|
|
5,259
|
|
|
|
|
|
|
|
|
4,006
|
|
Adjusted
EBITDA
|
|
|
|
|
|
|
$
|
18,962
|
|
|
|
|
|
|
|
$
|
6,732
|
|
|
|
|
|
|
|
$
|
37,037
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) To
adjust stock-based compensation.
(b) To adjust amortization of intangible assets and as
related to net income, also the tax provision on acquired
intangible assets amortization.
(c) To adjust net (gain) on the sale of investments and
impairment on investments.
(d) To adjust non-GAAP to GAAP reconciling items for the
income (loss) attributable to non-controlling interests.
(e) To adjust the number of shares used in computing diluted
net income per share from diluted net loss per
share.
|
WEIBO
CORPORATION
UNAUDITED ADDITIONAL INFORMATION
(In thousands)
|
|
|
Three months
ended
|
|
|
March
31,
|
|
December
31,
|
|
|
|
2016
|
|
|
2015
|
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
|
|
|
|
|
|
|
|
Advertising and
marketing:
|
|
|
|
|
|
|
|
|
|
Key accounts and small
& medium-sized enterprises
|
$
|
88,126
|
|
$
|
44,667
|
|
$
|
81,323
|
|
Alibaba
|
|
11,120
|
|
|
34,493
|
|
|
48,204
|
|
Subtotal
|
|
99,246
|
|
|
79,160
|
|
|
129,527
|
|
|
|
|
|
|
|
|
|
|
|
Weibo
VAS
|
|
20,044
|
|
|
17,130
|
|
|
19,498
|
|
|
$
|
119,290
|
|
$
|
96,290
|
|
$
|
149,025
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/weibo-reports-first-quarter-2016-financial-results-300267010.html
SOURCE Weibo