Weibo’s monthly active users were 497 million in September 2019, a net addition of approximately 51 million users year-over-year. Mobile MAUs represented approximately 94% of MAUs.
Average daily active users (“DAUs”) on Weibo were 216 million in September 2019, a net addition of approximately 21 million users year-over-year.
Weibo Financial Results in Q3 2019
For the third quarter of 2019, Weibo’s total net revenues were $467.8 million, an increase of 2% compared to $460.2 million for Q3 2018 according to its financial results.
Advertising and marketing revenues for the third quarter of 2019 were $412.5million, an increase of 1% compared to $409.3 million for the same period last year.
Advertising and marketing revenues from key accounts and small & medium-sized enterprises were $393.3 million, representing an increase of 3% compared to $380.7 million for the same period last year.
VAS revenues for the third quarter of 2019 were $55.3 million, an increase of 9% year-over-year compared to $50.9 million for the same period last year. The increase was mainly attributable to the revenues derived from Weibo live streaming business acquired in Q4 2018.
Costs and expenses for Q3 2019 totaled $295.2 million, compared to $298.2 million for Q3 2018. Non-GAAP costs and expenses were $277.5 million, compared to $272.2 million for Q3 2018.
Income from operations for the third quarter of 2019 was $172.5 million, compared to $162.0 million for the same period last year. Non-GAAP income from operations was $190.2 million, compared to $188.0 million for the same period last year.
Non-operating income for Q3 2019 was $5.3 million, compared to an income of $42.9 million for Q3 2018. The decrease was mainly due to the recognition of a $41.9 million investment related fair value mark to market gain in Q3 2018.
Income tax expenses for the third quarter were $31.4 million, compared to $37.9 million for the same period last year.
Net income attributable to Weibo for the third quarter of 2019 was $146.2 million, compared to $165.3 million for the same period last year.
Diluted net income per share attributable to Weibo for the third quarter of 2019 was $0.64, compared to $0.73 for the same period last year.
Non-GAAP net income attributable to Weibo for the third quarter of 2019 was $176.1 million, compared to $171.8 million for the same period last year. Non-GAAP diluted net income per share attributable to Weibo for the third quarter of 2019 was $0.77, compared to $0.75 for the same period last year.
As of September 30, 2019, Weibo’s cash, cash equivalents and short-term investments totaled $2.37 billion. For the third quarter of 2019, cash provided by operating activities was $164.8 million, capital expenditures totaled $4.4 million, and depreciation and amortization expenses amounted to $6.3 million.