Weibo Q1 Revenues Up 6% to $421.3M Driven by 9% Ad Growth
WB•Weibo reported Q1 net revenues of US$421.3 million, up 6% year-over-year, driven by a 9% increase in advertising revenues to US$369.8 million while value-added services fell 11% to US$51.6 million. GAAP net income slipped to US$34.7 million (US$0.14 per share) and non-GAAP net income reached US$91.9 million, with operating margin at 26%.
1. Financial Highlights
Weibo generated total net revenues of US$421.3 million in Q1 2026, marking a 6% increase year-over-year. Advertising and marketing revenues rose 9% to US$369.8 million, while value-added services revenue declined 11% to US$51.6 million.
2. Profit and Margins
GAAP income from operations was US$110.9 million, yielding a 26% operating margin, down from 28% last year. GAAP net income attributable to shareholders was US$34.7 million (US$0.14 per share), and non-GAAP net income was US$91.9 million with a 28% non-GAAP operating margin.
3. User Engagement Metrics
Monthly active users reached 562 million in March 2026, with average daily active users at 254 million. Platform enhancements to feed experience and AI-powered search were credited with sustaining user retention and engagement.
4. Cash Flow and Balance Sheet
As of March 31, 2026, Weibo held US$2.59 billion in cash, cash equivalents and short-term investments. Operating activities provided US$164.0 million in cash, while capital expenditures totaled US$11.9 million for the quarter.
