WB-SW (09898) third quarter net profit attributable to shareholders was USD 131 million, an increase of 68.5% year-on-year, with steady performance in advertising business.

WB-SW (09898) released its financial performance for the third quarter of 2024, with a net income of $464 million, an increase of 5.05% year-on-year; net profit attributable to Weibo shareholders was $131 million, an increase of 68.5% year-on-year; basic earnings per share were $0.55. For the first three quarters of 2024, the net income was $1.298 billion, an increase of 0.13% year-on-year; net profit attributable to Weibo shareholders was $292 million, an increase of 12.56% year-on-year; basic earnings per share were $1.23. The announcement stated that the monthly active users in September 2024 were 587 million, and the daily average active users in September 2024 were 257 million. Advertising and marketing revenue for the third quarter of 2024 was $399 million, a 2% increase from the same period last year. Advertising and marketing revenue (excluding revenue from Alibaba) was $377 million, a 3% increase from the same period last year. "Our performance this quarter was solid," said Weibo CEO Wang Gaofei. "On the user side, we continue to focus on acquiring high-quality users and increasing engagement. In terms of monetization, our advertising business performed well this quarter. Thanks to the demand for advertising during the summer Olympics, advertising revenue from certain key industries saw strong growth. At the same time, our value-added services business also saw good growth this quarter, due to upgrades in membership services, better meeting the needs of users for social interaction on the platform."