With ad budget in China shifting toward mobile, social and video, Weibo saw its revenues benefiting from this secular trend. Its business with advertising and marketing revenue grew 79% year over year in Q1 2018 to $302.9 million, accounting for 86.6% of its total net revenues ($349.9 million, an increase of 76% YoY) according to its unaudited financial results.
Check out WeChat, QQ MAU in Q1 2018 here.
Net income attributable to Weibo was $99.1 million, an increase of 111% YoY, and diluted net income per share was $0.44, compared to $0.21 for the same period last year. Non-GAAP net income attributable to Weibo was $112.6 million, an increase of 95% YoY, and non-GAAP diluted net income per share was $0.50, compared to $0.26 for the same period last year.
Monthly active users on Weibo had a net addition of approximately 70 million users year over year and reached 411 million in March 2018. Mobile MAUs represented 93% of MAUs. Average daily active users had a net addition of approximately 30 million users year over year and reached 184 million in March 2018.