Weibo shares rose 4.56% in premarket trading after announcing its financial results for the third quarter

Weibo shares rose 4.56% in premarket trading after announcing its financial results for the third quarter.

Third Quarter 2021 Highlights

• Net revenues were$607.4 million, an increase of 30% year-over-year or an increase of 23% year-over-year on a constant currency basis.
• Advertising and marketing revenues were$537.6 million, an increase of 29% year-over-year.
• Value-added service ("VAS") revenues were$69.8 million, an increase of 42% year-over-year.
• Income from operations was$213.0 million, an increase of 32% year-over-year, representing an operating margin of 35%.
• Net income attributable to Weibo was$181.7 million and diluted net income per share was$0.78.
• Non-GAAP income from operations was$248.7 million, an increase of 39% year-over-year, representing a non-GAAP operating margin of 41%.
• Non-GAAP net income attributable to Weibo was$209.6 million and non-GAAP diluted net income per share was$0.90.
• Monthly active users ("MAUs") were 573 million in September 2021, a net addition of 62 million users on a year-over-year basis. Mobile MAUs represented 94% of MAUs.
• Average daily active users ("DAUs") were 248 million in September 2021, a net addition of 23 million users on a year-over-year basis.

Business Outlook

For the fourth quarter of 2021, Weibo estimates its net revenues to increase by 15% to 20% year-over-year on a constant currency basis. This forecast reflects Weibo's current and preliminary view, which is subject to change.