Weibo released the financial report for the third quarter of 2016, and the net profit increased by 42% year-on-year

On November 21, social media microblogging company today released its unaudited financial report for the third quarter ended September 30, 2016. Net revenue increased by 42% year-on-year to US $176.9 million, exceeding the company's expectation of US $168 million to US $173 million

November 21, 2016 social media microblogging company today released its unaudited financial report for the third quarter ended September 30, 2016

strong > focus performance in the third quarter of 2016 / strong >

net revenue increased by 42% year-on-year to $176.9 million, exceeding the company's expectation of $168 million to $173 million

advertising and marketing revenue increased by 48% year-on-year to $156.7 million

the revenue of Weibo value-added service (VAS) increased by 7% year-on-year to US $20.2 million

the net income attributable to Weibo increased by 122% over the same period last year to US $32.1 million, or 14 cents per diluted net income, compared with 7 cents in the same period last year

the net profit attributable to Weibo under non US GAAP increased by 147% over the same period last year to US $54.6 million, and the diluted net profit per share under non US GAAP was 24 cents, compared with 10 cents in the same period last year

adjusted EBITDA (profit before interest, tax, depreciation and amortization) increased by 117% year-on-year to US $57.7 million, and the adjusted EBITDA profit margin reached 33%

the number of monthly active users (MAU) in September 2016 increased by 34% over the same period last year to 297million, of which 89% were mobile users. The average number of daily active users (dau) in September 2016 increased by 32% year-on-year to 132million

Wang Gaofei, CEO of Weibo, said: "The advertising revenue of Weibo's major customers and small and medium-sized enterprises calculated at a fixed exchange rate doubled year-on-year for the third consecutive quarter, thanks to the breadth of our brand and products and the long-term trend of advertising towards mobile, social networking and video. Our efforts to build a content ecosystem, attract high-quality users to generate content, and unremitting commitment to user experience helped us achieve strong growth in traffic. In the third quarter, we Our platform also has a strong operational leverage effect. "

strong > enterprise performance in the third quarter of 2016 / strong >

net revenue in the third quarter of 2016 was $176.9 million, compared with $124.7 million in the same period last year. Advertising and marketing revenue in the third quarter of 2016 was $156.7 million, compared with $105.9 million in the same period last year. Advertising and marketing revenue from major customers and small and medium-sized enterprises (SMEs) was $147.4 million, up from $73.3 million in the same period last year. The revenue from Alibaba was US $9.3 million, compared with us $32.5 million in the same period last year. In the third quarter of 2016, the revenue of Weibo value-added services was $20.2 million, compared with $18.9 million in the same period last year

costs and expenses in the third quarter of 2016 totaled $134 million, compared with $110.8 million in the same period last year. Non GAAP costs and expenses in the third quarter of 2016 were $122.4 million, compared with $103.2 million in the same period last year. The increase in non GAAP costs and expenses was mainly due to the increase in marketing expenses, value-added tax and bad debt expenses, of which the latter two were related to the increase in revenue

the operating profit in the third quarter of 2016 was US $42.9 million, compared with us $13.9 million in the same period last year. Non GAAP operating profit in the third quarter of 2016 was $54.5 million, compared with $21.5 million in the same period last year

the non operating loss in the third quarter of 2016 was $9.2 million, including an investment impairment of $11.1 million. The non operating profit of the same period last year was 1.4 million US dollars

in the third quarter of 2016, the net profit attributable to Weibo was $32.1 million, or 14 cents per diluted net profit, compared with $14.5 million, or 7 cents per diluted net profit, in the same period last year. In the third quarter of 2016, the non GAAP net profit attributable to Weibo was $54.6 million, equivalent to 24 cents per diluted net profit, and the net profit of the same period last year was $22.1 million, equivalent to 10 cents per diluted net profit

as of September 30, 2016, the total cash, cash equivalents and short-term investments of Weibo were $479.4 million. In the third quarter of 2016, cash provided by operating activities was $89.8 million, capital expenditure was $1.3 million, and depreciation and amortization expenses were $3.5 million

strong > performance outlook / strong >

Weibo predicts that the net revenue in the fourth quarter of 2016 will be between $205 million and $210 million. This expectation reflects the current preliminary judgment of Weibo, which may be adjusted in the future

editor: Yvette