Q2 2024 Weibo Corp Earnings Call Transcript
Key Points
- Weibo Corp (WB) reported a user base of 583 million MAUs and 256 million DAUs, reflecting strong user engagement.
- Total revenues reached USD 437.9 million, with a non-GAAP operating income of USD 157.6 million, representing a 36% operating margin.
- Weibo Corp (WB) saw significant growth in user interaction within the entertainment vertical, with a 50% year-over-year increase in daily posts and user engagement.
- The company has successfully leveraged AI and large language models to enhance content recommendation and user interaction, improving user experience.
- Weibo Corp (WB) maintained strong partnerships with key industries such as automotive, gaming, and digital products, leading to increased ad revenue and user engagement in these verticals.
- Ad revenues decreased by 1% year-over-year on a constant currency basis, indicating challenges in monetization.
- The cosmetics and beauty sector continued to underperform, negatively impacting overall ad revenue.
- The macroeconomic environment remains uncertain, with potential negative impacts on advertising demand in the second half of 2024.
- Despite improvements, Weibo Corp (WB) faces intense competition in the performance ad market, affecting its revenue growth.
- The company is less competitive in performance-based ads and promotional campaigns compared to other marketing methods, particularly in the stressed industries like cosmetics and luxury brands.
Good day, and thank you for standing by, and welcome to the Weibo Reports second quarter 2024 financial results conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Sandra Zhang. Please go ahead.
Well, thank you, operator. Welcome to Weibo's second quarter 2024 earnings conference call. Joining me today are our Chief Executive Officer, Gaofei Wang; and our Chief Financial Officer, Fei Cao. This conference call is also being broadcast on the Internet and is available to Weibo's IR website.
Before the management remarks, I would like to review the Safe Harbor statement in connection with today's conference call. During today's conference call, we may make forward-looking statements. Statements that are not historical facts, including statements of our beliefs and expectations. Forward-looking statements involve inherent risks and uncertainties.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
