Weibo reported a net addition of approximately 70 million in monthly active users and reached a total of 462 million as of December 2018. Its average daily active users are 200 million in December 2019, roughly 28 million more than 2017.
Weibo Q4 2018 Highlights
- Net revenues were $481.9 million, an increase of 28% year-over-year.
- Advertising and marketing revenues were $417.0 million, an increase of 25% year-over-year.
- Value-added service (“VAS”) revenues were $64.9 million, an increase of 44% year-over-year.
- VAS revenues for Q4 2018 were $64.9 million, an increase of 44% year-over-year compared to $45.1 million for the same period last year,
- Net income attributable to Weibo was $166.5 million, an increase of 27% year-over-year, and diluted net income per share was $0.73, compared to $0.58 for the same period last year.
- Non-GAAP net income attributable to Weibo was $183.6 million, an increase of 26% year-over-year, and non-GAAP diluted net income per share was $0.80, compared to $0.64 for the same period last year.
- Monthly active users (“MAUs”) were 462 million in December 2018, a net addition of approximately 70 million users on year over year basis. Mobile MAUs represented 93% of MAUs.
- Average daily active users (“DAUs”) were 200 million in December 2018, a net addition of approximately 28 million users on year over year basis.
Weibo stock falls after its quarterly earnings report.
Weibo Performance Highlights in 2018
- Net revenues totaled $1.72 billion, an increase of 49% year-over-year.
- Advertising and marketing revenues were $1.50 billion, an increase of 50% year-over-year.
- VAS revenues were $219.3 million, an increase of 43% year-over-year.
- VAS revenues for 2018 were $219.3 million, an increase of 43% compared to $153.3 million for 2017
- Net income attributable to Weibo was $571.8 million, an increase of 62% year-over-year, representing a net margin of 33%, compared to 31% in 2017. Diluted net income per share was $2.52, compared to $1.56 in 2017.
- Non-GAAP net income attributable to Weibo was $624.2 million, an increase of 54% year-over-year, representing a non-GAAP net margin of 36%, compared to 35% in 2017. Non-GAAP diluted net income per share was $2.73, compared to $1.80in 2017.
Weibo Business Outlook
For the first quarter of 2019, Weibo estimates its net revenues to be between $395 million and $405 million, or an increase of 20.5% year over year to 23.5% year over year on a constant currency basis. This forecast reflects the currency translation risks and assumes an average exchange rate of RMB 6.75 to US$1.00.
In 2019, Weibo will continue to invest in platform development in multi-dimension, reinforce social content ecosystem to empower content creators, and capture higher wallet share in digital advertising budget as well as diversifying monetization opportunities in the long run, according to Gaofei Wang, CEO of Weibo.
Check out China’s digital entertainment consumption overview 2019