Weibo Financial Report: Weibo's total revenue in Q3 2024 is 3.294 billion yuan

According to recent news, Weibo released its financial report for the third quarter of 2024, with total revenue for the quarter reaching US$464.5 million, or approximately RMB 3.294 billion.

Among them, advertising revenue reached US$398.6 million, equivalent to RMB 2.824 billion. The new car marketing cooperation in the automotive industry covered nearly 50%, and new product marketing revenue contributed nearly 70% of the industry revenue, which promoted the year-on-year increase in Weibo's automotive industry revenue in the third quarter.

In terms of profit, Weibo's adjusted operating profit in the third quarter reached US$164.5 million, approximately RMB 1.159 billion; adjusted net profit was US$139.2 million, approximately RMB 980 million; net profit attributable to shareholders was US$131 million, an increase of 68.5% year-on-year.

In terms of users, Weibo's monthly active users reached 587 million in September 2024, and the average daily active users in September were 257 million.

Weibo CEO Wang Gaofei said: "Our performance this quarter was solid. In terms of users, we continued to focus on acquiring high-quality users and increasing their activity. In terms of monetization, our advertising business performed solidly this quarter."

"At the same time, our value-added service business also achieved good growth this quarter, thanks to the upgrade of membership services, which better met the needs of users for social interaction on the platform."

Zikuai Technology