• Total Revenue (Q4 2024): USD456.8 million, a decrease of 1% year-over-year.

• Ad Revenue (Q4 2024): USD385.9 million, a decrease of 4% year-over-year.

• Value-Added Service Revenue (Q4 2024): USD71 million, an increase of 18% year-over-year.

• Non-GAAP Operating Income (Q4 2024): USD136.2 million, representing a non-GAAP operating margin of 30%.

• Net Income (Q4 2024): USD106.6 million, with a net margin of 23%.

• Total Revenue (Full Year 2024): USD1.75 billion, relatively flat year-over-year.

• Ad Revenue (Full Year 2024): USD1.5 billion, a decrease of 2% year-over-year.

• Value-Added Service Revenue (Full Year 2024): USD256 million, an increase of 13% year-over-year.

• Non-GAAP Operating Income (Full Year 2024): USD584.1 million, representing a non-GAAP operating margin of 33%.

• Net Income (Full Year 2024): USD478.6 million, with a net margin of 27%.

• Cash, Cash Equivalents, and Short-term Investments (End of 2024): USD2.35 billion.

• Cash Provided by Operating Activities (Q4 2024): USD244 million.

• Capital Expenditures (Q4 2024): USD17.7 million.

• Dividend Policy: Annual cash dividend of USD0.82 per ordinary share for ADS, totaling approximately USD200 million.

• Warning! GuruFocus has detected 6 Warning Signs with WB.

Release Date: March 13, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Weibo Corp (NASDAQ:WB) reported a stable non-GAAP operating margin of 30% for Q4 2024 and 33% for the full year, indicating effective cost management.

• The company's value-added service revenues increased by 18% year-over-year in Q4 2024, driven by growth in membership and game-related services.

• Weibo Corp (NASDAQ:WB) maintained a strong user base with 590 million MAUs and 260 million DAUs as of December 2024, showing solid user engagement.

• The company is actively investing in AI technology to enhance product capabilities, including intelligent search and content recommendation.

• Weibo Corp (NASDAQ:WB) announced a USD200 million annual cash dividend, reflecting a commitment to shareholder returns despite a challenging ad market.

Negative Points

• Total revenue for Q4 2024 decreased by 1% year-over-year, with ad revenue declining by 4%, indicating challenges in the advertising sector.

• The online game, cosmetics, personal care, and luxury industries experienced a decline in ad revenue, impacting overall growth.

• Despite government stimulus policies, certain discretionary categories remain under pressure, affecting ad performance.

• The gaming industry is uncertain for 2025, with a lack of large game launches impacting ad revenue potential.

• Weibo Corp (NASDAQ:WB) faces competitive pressures in the advertising market, requiring strategic adjustments to maintain growth.