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Sep 30, 2025
Weibo Q3 2025 Earnings Report
Weibo reported lower revenues but significantly higher net income in Q3 2025 driven by non-operating gains.
Key Takeaways
Despite a 5% revenue decline, Weibo saw a sharp increase in net income due to strong investment-related gains. Core advertising revenue fell, but income from Alibaba ads and cost control helped mitigate the impact.
Revenue declined to $442.3M, down from $464.5M last year.
Net income more than doubled to $221.1M due to equity investment gains.
Advertising revenue from Alibaba surged by 112% year-over-year.
Non-GAAP EPS dropped to $0.42 despite higher GAAP EPS of $0.83.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Weibo expects some headwinds in Q4 due to volatility in equity investments and a normalized ad market post-Olympics boost in the prior year.
Positive Outlook
- Growth in Alibaba ad spend continues.
- E-commerce and auto sectors showed solid ad demand.
- AI-driven ad tech improving monetization efficiency.
- User base remains stable with 578M MAUs.
- Homepage and search product revamps completed.
Challenges Ahead
- Advertising revenue from non-Ali sectors declined.
- Q4 expected to reflect investment losses from Q2 valuation lag.
- Operating margin declined year-over-year.
- Overall advertising and marketing revenue dropped.
- YoY revenue down 5% due to tough comps.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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