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weibo Weibo Reports Second Quarter 2021 Unaudited Financial Results August 18 , 2021 BEIJING , Aug. 18 , 2021 / PRNewswire / -- Weibo Corporation ( " Weibo " or the " Company " ) ( NASDAQ : WB ) , a leading social media in China , today announced its unaudited financial results for second quarter ended June 30 , 2021 . " We had a strong quarter with broad - based strength of our business , and both our community and revenues grew with accelerated pace , " said Gaofei Wang , CEO of Weibo . " On the user front , both our MAUS and DAUS reached record high in June , leveraging our further enhanced competitiveness in social products , initiatives on the video front and effective channel investment . On monetization , the strong momentum of our ad business was underpinned by our relentless effort to optimize ad products and improve efficiency to drive value for our customers . " Mr. Wang concluded . Second Quarter 2021 Highlights • Net revenues were $ 574.5 million , an increase of 48 % year - over - year or an increase of 34 % year - over - year on a constant currency basis [ 1 ] . • Advertising and marketing revenues were $ 502.3 million , an increase of 47 % year - over - year . • Value - added service ( " VAS " ) revenues were $ 72.1 million , an increase of 54 % year - over - year . • Income from operations was $ 193.2 million , an increase of 82 % year - over - year , representing an operating margin of 34 % . • Non - GAAP income from operations was $ 223.2 million , an increase of 83 % year - over - year , representing a non - GAAP operating margin of 39 % . • Net income attributable to Weibo was $ 81.0 million and diluted net income per share was $ 0.35 . • Non - GAAP net income attributable to Weibo was $ 182.8 million and non - GAAP diluted net income per share was $ 0.79 . • Monthly active users ( " MAUS " ) were 566 million in June 2021 , a net addition of 43 million users on a year - over - year basis . Mobile MAUS represented 94 % of MAUS . • Average daily active users ( " DAUS " ) were 246 million in June 2021 , a net addition of 16 million users on a year - over - year basis . [ 1 ] On a constant currency ( non - GAAP ) basis , we assume that the exchange rate in the second quarter of 2021 had been the same as it was in the second quarter of 2020 , or RMB 7.09 = US $ 1.00 . Second Quarter 2021 Financial Results For the second quarter of 2021 , Weibo's total net revenues were $ 574.5 million , an increase of 48 % compared to $ 387.4 million for the same period last year . Advertising and marketing revenues for the second quarter of 2021 were $ 502.3 million , an increase of 47 % compared to $ 340.6 million for the same period last year . Advertising and marketing revenues excluding ad revenues from Alibaba were $ 462.4 million , an increase of 52 % compared to $ 304.8 million for the same period last year , primarily attributable to a broad - based increase in advertising demand and strong sales execution . VAS revenues for the second quarter of 2021 were $ 72.1 million , an increase of 54 % year - over - year compared to $ 46.8 million for the same period last year , mainly attributable to revenues derived from the interactive entertainment company acquired in November 2020 and incremental revenues contributed from online game services . Costs and expenses for the second quarter of 2021 totaled $ 381.2 million , an increase of 36 % compared to $ 281.2 million for the same period last year . The increase was primarily due to higher marketing expense and personnel - related cost . Income from operations for the second quarter of 2021 was $ 193.2 million , an increase of 82 % compared to $ 106.2 million for the same period last year . Operating margin was 34 % , compared to 27 % last year . Non - GAAP income from operations was $ 223.2 million , an increase of 83 % compared to $ 121.9 million for the same period last year . Non - GAAP operating margin was 39 % , compared to 31 % last year . Non - operating loss for the second quarter of 2021 was $ 65.3 million , compared to a non - operating income of $ 132.5 million for the same period last year . Non - operating loss for the second quarter of 2021 mainly included ( i ) a $ 66.6 million impairment charge on equity investments , which is excluded under non - GAAP measures ; ( ii ) a $ 10.9 million net loss on fair value change of investments , which is excluded under non - GAAP measures ; and ( iii ) an $ 11.5 million net interest and other income . Income tax expense were $ 46.9 million , compared to $ 40.7 million for the same period last year . Net income attributable to Weibo for the second quarter of 2021 was $ 81.0 million , compared to $ 198.4 million for the same period last year . Diluted net income per share attributable to Weibo for the second quarter of 2021 was $ 0.35 , compared to $ 0.86 for the same period last year . Non - GAAP net income attributable to Weibo for the second quarter of 2021 was $ 182.8 million , compared to $ 114.5 million for the same period last year . Non - GAAP diluted net income per share attributable to Weibo for the second quarter of 2021 was $ 0.79 , compared to $ 0.50 for the same period last year . As of June 30 , 2021 , Weibo's cash , cash equivalents and short - term investments totaled $ 2.94 billion . For the second quarter of 2021 , cash provided by operating activities was $ 94.1 million , capital expenditures totaled $ 9.5 million , and depreciation and amortization expenses amounted to $ 13.6 million . Change of Board Committee Member The Company announced that its board of directors ( the " Board " ) has appointed Mr. Yan Wang as a member of the compensation committee of the Board , replacing Mr. P. Christopher Lu , who resigned from the compensation committee of the Board , both effective immediately . Business Outlook For the third quarter of 2021 , Weibo estimates its net revenues to increase by 20 % to 25 % year - over - year on a constant currency basis . This forecast reflects Weibo's current and preliminary view , which is subject to change .