Weibo Reports First Quarter 2014 Financial Results
By GlobeNewswire, May 21, 2014, 05:00:00 PM EDT
Read more: nasdaq.com
BEIJING, China, May 21, 2014 (GLOBE NEWSWIRE) -- Weibo Corporation (the "Company" or "Weibo") (Nasdaq: WB), a leading social media platform for people to create, distribute and discover Chinese-language content, today announced its unaudited financial results for the first quarter ended March 31, 2014.
First Quarter 2014 Highlights
- Net revenues increased 161% year over year to $67.5 million.
- Advertising and marketing revenues grew 176% year over year to $51.9 million.
- Weibo Value Added Services ("Weibo VAS") revenues increased 120% year over year to $15.7 million.
- Net loss increased 146% year over year to $47.4 million, or $0.31 diluted net loss per share attributable to Weibo's ordinary shareholders. Net loss in the first quarter of 2014 included a loss of $40.2 million from the change in fair value of investor option liability.
- Non-GAAP net loss decreased 74% year over year to $4.8 million, or $0.03 non-GAAP diluted net loss per share attributable to Weibo's ordinary shareholders.
- Monthly active users ("MAUs") were 143.8 million as of March 31, 2014, an increase of 34% year over year.
- Daily active users ("DAUs") were 66.6 million on average for March 2014, an increase of 37% year over year.
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