Weibo Corporation ("Weibo" or the "Company") (NASDAQ:WB), a leading
social media in China, today announced its unaudited financial
results for the quarter ended September 30, 2015.
Third Quarter 2015 Highlights
- Net revenues increased 48% year over year to $124.7 million,
exceeding the Company's guidance between $120 million and $123
million.
- Advertising and marketing revenue increased 62% year over
year.
- Weibo Value Added Services ("Weibo VAS") revenue increased 1%
year over year, despite a 72% year-over-year decline in revenue
from data licensing, a deemphasized business.
- Net income attributable to Weibo's ordinary shareholders was
$14.5 million, or diluted net income per share of $0.07, compared
to a net loss of $6.7 million for the same period last year, or
diluted net loss per share of $0.03.
- Non-GAAP net income attributable to Weibo's ordinary
shareholders was $22.1 million, or non-GAAP diluted net income per
share of $0.10, compared to a non-GAAP net loss of $1.5 million for
the same period last year, or non-GAAP diluted net loss per share
of $0.01.
- Non-GAAP adjusted EBITDA was $26.5 million, compared to a
non-GAAP adjusted EBITDA of $1.9 million for the same period last
year.
- Monthly active users ("MAUs") reached 222 million in September
2015, up 33% year over year. Mobile MAUs represented 85% of total
MAUs in September 2015. Daily active users ("DAUs") reached 100
million on average for September 2015, up 30% year over year.
"We continue to see strong momentum in Weibo's
advertising and marketing business, with non-Alibaba ad revenues
growing 100% year over year in RMB and ad customers in the quarter
reaching close to half a million," said Gaofei Wang, Weibo's CEO.
"On the user side, strong consumption of video, photo and key
opinion leader content are contributing to the robust growth of
Weibo traffic. For example, daily video views on Weibo in September
2015 grew 9.7 times from the same period last year."
Third Quarter 2015 Financial
Results
For the third quarter of 2015, Weibo reported net
revenues of $124.7 million, compared to $84.1 million for the same
period last year. Advertising and marketing revenue for the third
quarter of 2015 totaled $105.9 million, compared to $65.4 million
for the same period last year. Weibo VAS revenue for the third
quarter of 2015 totaled $18.9 million, compared to $18.8 million
for the same period last year.
Costs and expenses for the third quarter of 2015
totaled $110.8 million, compared to $92.0 million for the same
period last year. Non-GAAP costs and expenses for the third quarter
of 2015 was $103.2 million, compared to $88.1 million for the same
period last year. The increase in non-GAAP costs and expenses was
primarily due to an increase in infrastructure costs resulting from
traffic growth and strong multi-media consumption, higher game and
other revenue share and value added taxes associated with higher
revenues, and an increase in personnel-related costs.
Income from operations for the third quarter of
2015 was $13.9 million, compared to a loss from operations of $7.8
million for the same period last year. Non-GAAP income from
operations for the third quarter of 2015 was $21.5 million,
compared to a non-GAAP loss from operations of $3.9 million for the
same period last year.
Non-operating income for the third quarter of 2015
was $1.4 million, compared to a non-operating loss of $0.3 million
for the same period last year.
Net income attributable to Weibo's ordinary
shareholders for the third quarter of 2015 was $14.5 million, or
net income per share of $0.07, compared to a net loss of $6.7
million for the same period last year, or net loss per share of
$0.03. Non-GAAP net income attributable to Weibo's ordinary
shareholders for the third quarter of 2015 was $22.1 million, or
diluted net income per share of $0.10, compared to a non-GAAP net
loss of $1.5 million for the same period last year, or net loss per
share of $0.01.
As of September 30, 2015, Weibo's cash, cash
equivalents and short-term investments totaled $353.3 million. For
the three months ending September 30, 2015, cash, cash equivalents
and short-term investments increased $16.2 million. For the third
quarter of 2015, cash provided by operating activities was $71.0
million, capital expenditures totaled $0.6 million, and
depreciation and amortization expenses amounted to $5.1
million.
Recent Development
On November 5, 2015, the Company held its annual
general meeting of shareholders, where the shareholders re-elected
Mr. Charles Chao and Mr. Yichen Zhang as directors of the
Company.
Business Outlook
For the fourth quarter of 2015, Weibo estimates
that its net revenues to be between $146 million and $149 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's
ordinary shareholders and non-GAAP 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, change in fair value of investor option liability, gain (loss)
on the sale of investments and impairment on investments, and
dividend income from investments. In addition, non-GAAP adjusted
EBITDA excludes depreciation expenses, interest income (expenses)
and income tax expenses (benefits). 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 GAAP and Non-GAAP Measures."
The unaudited condensed consolidated statements of
operations and balance sheets have been prepared assuming that the
Weibo funds acquired from SINA on June 30, 2015 had been in
existence throughout the periods. Impact of such funds to each
period was not significant.
Conference Call
Weibo will host a conference call at 8 PM – 9 PM
Eastern Time on November 18, 2015 (or 9 AM – 10 AM Beijing Time on
November 19, 2015) 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, November 25, 2015. The dial-in number is +1
(412) 317-0088. The passcode for the replay is 10076332.
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 on Weibo.
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 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; 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, 2014 filed with the SEC on
April 28, 2015 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.
WEIBO
CORPORATION |
UNAUDITED CONDENSED
COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS |
(U.S. Dollars in
thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended |
Nine months
ended |
|
September
30, |
June 30, |
September
30, |
|
2015 |
2014 |
2015 |
2015 |
2014 |
|
|
Restated
(a) |
|
|
Restated
(a) |
Net revenues: |
|
|
|
|
|
Advertising and
marketing |
$ 105,861 |
$ 65,373 |
$ 87,867 |
$ 272,888 |
$ 176,809 |
Weibo VAS |
18,873 |
18,757 |
19,975 |
55,978 |
52,151 |
Total net
revenues |
124,734 |
84,130 |
107,842 |
328,866 |
228,960 |
|
|
|
|
|
|
Costs and Expenses: |
|
|
|
|
|
Cost of revenues
(b) |
37,241 |
20,670 |
33,689 |
99,855 |
57,813 |
Sales and marketing
(b) |
30,106 |
32,434 |
28,514 |
89,806 |
86,307 |
Product development
(b) |
37,493 |
31,757 |
35,009 |
106,830 |
92,720 |
General and
administrative (b) |
5,996 |
7,115 |
8,292 |
20,660 |
18,873 |
Total costs and
expenses |
110,836 |
91,976 |
105,504 |
317,151 |
255,713 |
Income (loss) from
operations |
13,898 |
(7,846) |
2,338 |
11,715 |
(26,753) |
|
|
|
|
|
|
Non-operating (loss)
income: |
|
|
|
|
|
Change in fair value of
investor option liability |
-- |
-- |
-- |
-- |
(46,972) |
Gain on sale of and
impairment on investments, net |
(462) |
(2,200) |
608 |
146 |
(2,040) |
Interest and other
income , net |
1,818 |
1,944 |
1,621 |
4,895 |
3,758 |
|
1,356 |
(256) |
2,229 |
5,041 |
(45,254) |
|
|
|
|
|
|
Income (loss) before income tax
expenses |
15,254 |
(8,102) |
4,567 |
16,756 |
(72,007) |
Income tax benefits
(expenses) |
(1,030) |
441 |
(414) |
(1,439) |
1,749 |
|
|
|
|
|
|
Net income (loss) |
14,224 |
(7,661) |
4,153 |
15,317 |
(70,258) |
Less: Net income (loss)
attributable to noncontrolling interest |
(253) |
(930) |
(43) |
(306) |
(505) |
|
|
|
|
|
|
Net income (loss) attributable to
Weibo' ordinary shareholders |
$ 14,477 |
$ (6,731) |
$ 4,196 |
$ 15,623 |
$ (69,753) |
|
|
|
|
|
|
Basic net income (loss) per share
attributable to Weibo's ordinary shareholders |
$ 0.07 |
$ (0.03) |
$ 0.02 |
$ 0.08 |
$ (0.38) |
Diluted net income (loss) per share
attributable to Weibo's ordinary shareholders |
$ 0.07 |
$ (0.03) |
$ 0.02 |
$ 0.07 |
$ (0.38) |
|
|
|
|
|
|
Shares used in computing basic net
income (loss) per share attributable to Weibo's ordinary
shareholders |
209,356 |
201,302 |
207,512 |
207,287 |
181,548 |
|
|
|
|
|
|
Shares used in computing diluted net
income (loss) per share attributable to Weibo's ordinary
shareholders |
217,681 |
201,302 |
218,125 |
217,426 |
181,548 |
|
|
|
|
|
|
|
|
|
|
|
|
(a) The unaudited
condensed combined and consolidated statements of operations have
been prepared assuming that the Weibo funds acquired from SINA on
June 30, 2015 had been in existence throughout the
periods. |
|
|
|
|
|
|
(b) Stock-based compensation in each
category: |
|
|
|
|
|
Cost of
revenues |
$ 380 |
$ 205 |
$ 289 |
$ 921 |
$ 561 |
Sales and
marketing |
924 |
525 |
735 |
2,353 |
1,215 |
Product
development |
3,028 |
1,156 |
2,401 |
7,737 |
2,737 |
General and
administrative |
2,917 |
1,757 |
3,568 |
8,778 |
4,759 |
|
WEIBO
CORPORATION |
UNAUDITED CONDENSED
COMBINED AND CONSOLIDATED BALANCE SHEETS |
(U.S. Dollars in
thousands) |
|
|
|
|
|
|
|
September 30,
2015 |
December 31,
2014 |
|
|
Restated
(a) |
Assets |
|
|
Current assets: |
|
|
Cash and cash
equivalents |
$ 203,776 |
$ 284,865 |
Short-term
investments |
149,521 |
166,414 |
Accounts receivable,
net |
102,543 |
120,210 |
Prepaid expenses and
other current assets |
37,902 |
18,375 |
Amount due from
SINA |
3,878 |
-- |
Current assets
subtotal |
497,620 |
589,864 |
|
|
|
Property and equipment,
net |
24,051 |
30,874 |
Goodwill and intangible assets,
net |
14,020 |
15,191 |
Investments |
225,839 |
63,777 |
Other assets |
24,349 |
3,808 |
Total assets |
$ 785,879 |
$ 703,514 |
|
|
|
Liabilities
and Shareholders' Equity |
|
|
Liabilities: |
|
|
Current
liabilities: |
|
|
Accounts
payable |
$ 2,276 |
$ 2,420 |
Accrued
liabilities |
146,967 |
87,595 |
Deferred
revenues |
31,933 |
20,957 |
Amount due to
SINA |
-- |
24,279 |
Current liabilities
subtotal |
181,176 |
135,251 |
|
|
|
Long-term
liabilities |
579 |
873 |
Total
liabilities |
181,755 |
136,124 |
|
|
|
Shareholders' equity : |
|
|
Weibo ordinary
shareholders' equity |
596,357 |
559,204 |
Non-controlling
interest |
7,767 |
8,186 |
Total shareholders'
equity |
604,124 |
567,390 |
|
|
|
Total liabilities and shareholders'
equity |
$ 785,879 |
$ 703,514 |
|
|
|
(a)The unaudited
condensed combined and consolidated statements of balance sheet
have been prepared assuming that the Weibo funds acquired from SINA
on June 30, 2015 had been in existence throughout the
periods. |
|
WEIBO
CORPORATION |
UNAUDITED
RECONCILIATION OF NON-GAAP TO GAAP RESULTS |
(U.S. Dollars in
thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended |
|
September 30,
2015 |
September 30,
2014 |
June 30,
2015 |
|
|
|
|
|
Restated |
|
|
|
|
|
Actual |
Adjustments |
|
Non-GAAP
Results |
Actual |
Adjustments |
|
Non-GAAP
Results |
Actual |
Adjustments |
|
Non-GAAP
Results |
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising and
marketing |
$ 105,861 |
|
|
$ 105,861 |
$ 65,373 |
|
|
$ 65,373 |
$ 87,867 |
|
|
$ 87,867 |
Weibo VAS |
18,873 |
|
|
18,873 |
18,757 |
|
|
18,757 |
19,975 |
|
|
19,975 |
Net
revenues |
$ 124,734 |
|
|
$ 124,734 |
$ 84,130 |
|
|
$ 84,130 |
$ 107,842 |
|
|
$ 107,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,249) |
(a) |
|
|
(3,643) |
(a) |
|
|
(6,993) |
(a) |
|
|
|
(364) |
(b) |
|
|
(277) |
(b) |
|
|
(373) |
(b) |
|
Total costs and
expenses |
$ 110,836 |
$ (7,613) |
|
$ 103,223 |
$ 91,976 |
$ (3,920) |
|
$ 88,056 |
$ 105,504 |
$ (7,366) |
|
$ 98,138 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,249 |
(a) |
|
|
3,643 |
(a) |
|
|
6,993 |
(a) |
|
|
|
364 |
(b) |
|
|
277 |
(b) |
|
|
373 |
(b) |
|
Income (loss) from
operations |
$ 13,898 |
$ 7,613 |
|
$ 21,511 |
$ (7,846) |
$ 3,920 |
|
$ (3,926) |
$ 2,338 |
$ 7,366 |
|
$ 9,704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,249 |
(a) |
|
|
3,643 |
(a) |
|
|
6,993 |
(a) |
|
|
|
262 |
(b) |
|
|
214 |
(b) |
|
|
268 |
(b) |
|
|
|
150 |
(c) |
|
|
1,359 |
(c) |
|
|
(516) |
(c) |
|
Net income (loss) attributable to
Weibo's ordinary shareholders |
$ 14,477 |
$ 7,661 |
|
$ 22,138 |
$ (6,731) |
$ 5,216 |
|
$ (1,515) |
$ 4,196 |
$ 6,745 |
|
$ 10,941 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income (loss) per share
attributable to Weibo's ordinary shareholders |
$ 0.07 |
|
|
$ 0.10 |
$ (0.03) |
|
|
$ (0.01) |
$ 0.02 |
|
|
$ 0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing diluted
net income (loss) per share attributable to Weibo's ordinary
shareholders |
217,681 |
|
|
217,681 |
201,302 |
|
|
201,302 |
218,125 |
|
|
218,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted
EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP
net income (loss) |
|
$ 22,138 |
|
|
|
$ (1,515) |
|
|
|
$ 10,941 |
Depreciation expenses |
|
|
4,696 |
|
|
|
5,739 |
|
|
|
5,521 |
Interest
income, net |
|
|
(1,433) |
|
|
|
(1,983) |
|
|
|
(1,562) |
Income tax
expenses (benefits) |
|
1,121 |
|
|
|
(378) |
|
|
|
507 |
Non-GAAP
adjusted EBITDA |
|
$ 26,522 |
|
|
|
$ 1,863 |
|
|
|
$ 15,407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WEIBO
CORPORATION |
UNAUDITED
RECONCILIATION OF NON-GAAP TO GAAP RESULTS |
(U.S. Dollars in
thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months
ended |
|
|
|
|
|
September 30,
2015 |
September 30,
2014 |
|
|
|
|
|
|
|
|
|
Restated |
|
|
|
|
|
Actual |
Adjustments |
|
Non-GAAP
Results |
Actual |
Adjustments |
|
Non-GAAP
Results |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising and
marketing |
$ 272,888 |
|
|
$ 272,888 |
$ 176,809 |
|
|
$ 176,809 |
|
|
|
|
Weibo VAS |
55,978 |
|
|
55,978 |
52,151 |
|
|
52,151 |
|
|
|
|
Net
revenues |
$ 328,866 |
|
|
$ 328,866 |
$ 228,960 |
|
|
$ 228,960 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(19,789) |
(a) |
|
|
(9,272) |
(a) |
|
|
|
|
|
|
|
(1,108) |
(b) |
|
|
(830) |
(b) |
|
|
|
|
|
Total costs and
expenses |
$ 317,151 |
$ (20,897) |
|
$ 296,254 |
$ 255,713 |
$ (10,102) |
|
$ 245,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,789 |
(a) |
|
|
9,272 |
(a) |
|
|
|
|
|
|
|
1,108 |
(b) |
|
|
830 |
(b) |
|
|
|
|
|
Income (loss) from
operations |
$ 11,715 |
$ 20,897 |
|
$ 32,612 |
$ (26,753) |
$ 10,102 |
|
$ (16,651) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,272 |
(a) |
|
|
|
|
|
|
|
19,789 |
(a) |
|
|
619 |
(b) |
|
|
|
|
|
|
|
799 |
(b) |
|
|
1,367 |
(c) |
|
|
|
|
|
|
|
(366) |
(c) |
|
|
46,972 |
(d) |
|
|
|
|
|
Net income (loss)
attributable to Weibo's ordinary shareholders |
$ 15,623 |
$ 20,222 |
|
$ 35,845 |
$ (69,753) |
$ 58,230 |
|
$ (11,523) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income
(loss) per share attributable to Weibo's ordinary
shareholders |
$ 0.07 |
|
|
$ 0.16 |
$ (0.38) |
|
|
$ (0.06) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing diluted net income (loss) per share attributable to
Weibo's ordinary shareholders |
217,426 |
|
|
217,426 |
181,548 |
|
|
181,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted
EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP
net income (loss) |
|
$ 35,845 |
|
|
|
$ (11,523) |
|
|
|
|
Depreciation expenses |
|
|
15,476 |
|
|
|
16,202 |
|
|
|
|
Interest
income, net |
|
|
(4,376) |
|
|
|
(3,728) |
|
|
|
|
Income tax
benefits |
|
|
1,716 |
|
|
|
(1,538) |
|
|
|
|
Non-GAAP
adjusted EBITDA |
|
$ 48,661 |
|
|
|
$ (587) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) To
adjust stock-based compensation. |
|
|
|
|
|
|
|
|
|
(b) To
adjust amortization of intangible assets and tax provision on
amortization of acquired intangible assets. |
|
|
|
(c) To
adjust gain (loss) on sale of investments, (impairment) on
investments, net, and dividend income from
investments. |
|
|
(d) To
adjust the change in fair value of investor option
liability. |
|
|
|
|
|
|
|
|
WEIBO
CORPORATION |
UNAUDITED ADDITIONAL
INFORMATION |
(U.S. Dollars in
thousands) |
|
|
|
|
|
|
|
Three months
ended |
Nine months
ended |
|
September
30, |
June 30, |
September
30, |
|
2015 |
2014 |
2015 |
2015 |
2014 |
|
|
|
|
|
|
Net revenues |
|
|
|
|
|
Advertising and
marketing: |
|
|
|
|
|
Advertising and
marketing other than Alibaba |
$ 73,331 |
$ 37,845 |
$ 59,444 |
$ 177,442 |
$ 107,238 |
Alibaba |
32,530 |
27,528 |
28,423 |
95,446 |
69,571 |
Subtotal |
105,861 |
65,373 |
87,867 |
272,888 |
176,809 |
|
|
|
|
|
|
Weibo VAS |
18,873 |
18,757 |
19,975 |
55,978 |
52,151 |
|
$ 124,734 |
$ 84,130 |
$ 107,842 |
$ 328,866 |
$ 228,960 |
CONTACT: Investor Relations
Weibo Corporation
Phone: +86 10 5898-3112
Email: ir@staff.weibo.com
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