TapTechNews August 22nd news, Weibo today released the financial results announcement for the second quarter and interim of 2024. The company's net revenue in the second quarter of 2024 was 437.9 million US dollars (TapTechNews note: currently about 3.123 billion yuan), a 1% decrease from 440.2 million US dollars (currently about 3.14 billion yuan) in the same period last year.
The advertising and marketing revenue in the second quarter of 2024 was 375.3 million US dollars (currently about 2.677 billion yuan), a 3% decrease from the same period last year. The advertising and marketing revenue (excluding advertising revenue from Alibaba) was 342.9 million US dollars (currently about 2.446 billion yuan), a 4% decrease from the same period last year.
The value-added service revenue in the second quarter of 2024 was 62.6 million US dollars (currently about 446 million yuan), a 15% increase from 54.6 million US dollars (currently about 389 million yuan) in the same period last year, mainly due to the growth of membership service revenue.
The total cost and expense in the second quarter of 2024 was 302.5 million US dollars (currently about 2.158 billion yuan), a 5% decrease from 316.8 million US dollars in the same period last year. Excluding the impact of exchange rates, this decrease was mainly due to the reduction in personnel-related costs.
The operating profit in the second quarter of 2024 was 135.4 million US dollars (currently about 966 million yuan), compared to 123.5 million US dollars in the same period last year. The operating profit margin in the second quarter of 2024 was 31%, compared to 28% in the same period last year. The non-GAAP operating profit in the second quarter of 2024 was 157.6 million US dollars (currently about 11.24 billion yuan), compared to 153.8 million US dollars in the same period last year. The non-GAAP operating profit margin in the second quarter of 2024 was 36%, compared to 35% in the same period last year.
The non-operating profit in the second quarter of 2024 was 11.4 million US dollars (currently about 81.31 million yuan), while in the same period last year it was a non-operating loss of 13.8 million US dollars (currently about 98.428 million yuan). The net profit attributable to Weibo shareholders in the second quarter of 2024 was 111.9 million US dollars (currently about 798 million yuan), compared to a net profit of 81.4 million US dollars (currently about 581 million yuan) in the same period last year.
As of June 30, 2024, Weibo's total cash, cash equivalents and short-term investments was 280 million US dollars (currently about 19.971 billion yuan). The cash generated from operating activities in the second quarter of 2024 was 132.1 million US dollars, the total capital expenditure was 10.3 million US dollars, and the depreciation and amortization expense was 14.5 million US dollars.