Hong Kong, China, August 19, 2026 - Leading Chinese social media platform Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB and HKEX: 9898) has released its unaudited financial results for the quarter ended June 30, 2026.

"Our performance this quarter was solid," stated Gaofei Wang, CEO of Weibo. "On the user front, we continued to enhance user quality, boosting retention through a revamped feed layout, with core user activity demonstrating steady resilience and further growth in feed consumption. Concurrently, video consumption has continued to improve, driven by enhanced content distribution from the feed redesign and a greater supply of premium video material. In monetization, we are focused on expanding the reach of Weibo's distinctive content marketing value to a broader advertiser base and leveraging AI integration to elevate ad effectiveness. Several key advertising verticals performed robustly, and celebrity marketing is showing strong momentum. Regarding AI, we are persistently advancing its application across products, content, and commercialization, achieving significant headway."

Key highlights for the second quarter of 2026

• Total net revenues were $453.8 million, a 2% increase year-over-year, or a 4% decrease on a constant currency basis[1].

• Advertising and marketing revenues were $381.0 million, a 1% decrease year-over-year, or a 6% decrease on a constant currency basis[1].

• Value-added services (VAS) revenues were $72.9 million, a 19% increase year-over-year, or a 12% increase on a constant currency basis[1].

• Operating income was $118.9 million, with an operating margin of 26%.

• Net income attributable to Weibo's shareholders was $67.4 million, with diluted earnings per share of $0.26.

• Non-GAAP operating income was $125.4 million, with a non-GAAP operating margin of 28%.

• Non-GAAP net income attributable to Weibo's shareholders was $102.7 million, with non-GAAP diluted earnings per share of $0.38.

• Monthly active users (MAUs) reached 561 million in June 2026.

• Daily active users (DAUs) reached 254 million in June 2026.

[1] On a constant currency (non-GAAP) basis, we assume the average exchange rate for the second quarter of 2026 is the same as that for the second quarter of 2025, which was RMB 7.23 = $1.00.

Financial performance for the second quarter of 2026

Total net revenues for the second quarter of 2026 were $453.8 million, a 2% increase from $444.8 million in the same period last year. Advertising and marketing revenues for the quarter were $381.0 million, a 1% decrease from $383.4 million in the prior year period. Excluding advertising revenues from Alibaba, advertising and marketing revenues were $341.8 million, a 2% decrease from $347.6 million in the prior year period. The decline in advertising and marketing revenues was primarily attributed to a year-over-year decrease in ad demand from the mobile phone and online gaming sectors. This decrease was partially offset by increased advertising revenues from the internet services and automobile industries, as well as a favorable foreign exchange impact on reported figures due to the overall appreciation of the Renminbi against the U.S. dollar year-over-year.

Advertising and marketing revenues from Alibaba were $39.2 million, a 10% increase from $35.7 million in the same period last year. This increase was mainly due to favorable foreign exchange effects and a slight year-over-year rise in ad demand from Alibaba's promotion of AI applications. VAS revenues for the second quarter of 2026 were $72.9 million, a 19% increase from $61.4 million in the prior year period, primarily driven by one-time ticket sales from offline events organized by Weibo, solid growth in membership service revenue, and favorable foreign exchange impacts.

Total costs and expenses for the second quarter of 2026 were $335.0 million, a 12% increase from $299.2 million in the prior year period, mainly due to higher advertising production costs and marketing expenses. Operating income for the quarter was $118.9 million, compared to $145.6 million in the prior year period. The operating margin for the second quarter of 2026 was 26%, compared to 33% in the same period last year. Non-GAAP operating income was $125.4 million, compared to $161.8 million in the prior year period. The non-GAAP operating margin was 28%, compared to 36% in the prior year period.

Non-operating loss for the second quarter of 2026 was $27.8 million, compared to a non-operating income of $12.8 million in the prior year period. The non-operating loss primarily consisted of (i) a $22.8 million loss from fair value changes of investments, which is excluded from non-GAAP non-operating income/loss; and (ii) a net loss of $5.1 million from interest and other items. Income tax expenses for the quarter were $23.0 million, compared to $31.7 million in the prior year period. The decrease in tax expenses was primarily due to lower pre-tax income in the second quarter of 2026 compared to the same period last year.

Net income attributable to Weibo's shareholders for the second quarter of 2026 was $67.4 million, compared to $125.7 million in the prior year period. Diluted earnings per share attributable to Weibo's shareholders was $0.26, compared to $0.48 in the prior year period. Non-GAAP net income attributable to Weibo's shareholders was $102.7 million, compared to $143.2 million in the prior year period. Non-GAAP diluted earnings per share attributable to Weibo's shareholders was $0.38, compared to $0.54 in the prior year period.

As of June 30, 2026, Weibo held total cash, cash equivalents, and short-term investments of $2.64 billion. Cash generated from operating activities in the second quarter of 2026 was $50.5 million. Total capital expenditures were $3.1 million, and depreciation and amortization expenses were $15.7 million.

Conference call details

Weibo's management team will host a conference call from 7:00 AM to 8:00 AM Eastern Time on August 19, 2026 (7:00 PM to 8:00 PM Hong Kong Time on the same day) to discuss the financial results and business operations. Participants are required to register in advance via the following public participant link: https://register-conf.media-server.com/register/BI4542e6edec00491e9198327b87da5adb. Dial-in and access instructions will be provided in the confirmation email sent after registration. A live webcast and archived replay of the call will also be available on Weibo's investor relations website at http://ir.weibo.com.

About Weibo

Weibo is a leading social media platform for people to create, share, and discover content online. It combines the power of real-time public self-expression with a robust platform for social interaction, content aggregation, and content distribution. Any user can create and publish content with multimedia and long-form formats. User relationships on Weibo can be asymmetric; any user can follow any other user and add comments when reposting. This simple, asymmetric, and disseminative nature of Weibo enables an original piece of content to evolve into a real-time and viral conversation stream. Weibo provides advertising and marketing customers with the ability to promote their brands, products, and services to users. The company offers a variety of advertising and marketing solutions to companies of all sizes. The substantial majority of Weibo's revenue is derived from selling advertising and marketing services, including social display advertising and promoted marketing products. Weibo presents content in a simple feed format and offers native ads that fit within the platform's feed. The company continuously improves its social interest graph recommendation engine, allowing clients to target audiences and demographics based on user demographics, social relationships, interests, and behaviors, thereby achieving greater relevance, engagement, and marketing effectiveness.