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weibo Weibo Reports Third Quarter 2021 Unaudited Financial Results November 11 , 2021 BEIJING , Nov. 11 , 2021 / PRNewswire / -- Weibo Corporation ( " Weibo " or the " Company " ) ( NASDAQ : WB ) , a leading social media in China , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . " We delivered another solid quarter , with sustained user growth and top line expansion , " said Gaofei Wang , CEO of Weibo . " In September , both our MAUS and DAUS continued to grow from prior quarter , driven by a greater focus on Weibo's core positioning in social media , strong execution ability , effective channel investment strategies and the Olympic Game effect . We are committed to responding positively to the new regulatory requirements , and are confident that the new regulatory environment will benefit the internet sector , and empower Weibo's user growth and monetization in the long run . " Mr. Wang concluded . Third Quarter 2021 Highlights • Net revenues were $ 607.4 million , an increase of 30 % year - over - year or an increase of 23 % year - over - year on a constant currency basis [ 1 ] • Advertising and marketing revenues were $ 537.6 million , an increase of 29 % year - over - year . • Value - added service ( " VAS " ) revenues were $ 69.8 million , an increase of 42 % year - over - year . • Income from operations was $ 213.0 million , an increase of 32 % year - over - year , representing an operating margin of 35 % . • Net income attributable to Weibo was $ 181.7 million and diluted net income per share was $ 0.78 . • Non - GAAP income from operations was $ 248.7 million , an increase of 39 % year - over - year , representing a non - GAAP operating margin of 41 % . • Non - GAAP net income attributable to Weibo was $ 209.6 million and non - GAAP diluted net income per share was $ 0.90 . • Monthly active users ( " MAUS " ) were 573 million in September 2021 , a net addition of 62 million users on a year - over - year basis . Mobile MAUS represented 94 % of MAUS . • Average daily active users ( " DAUS " ) were 248 million in September 2021 , a net addition of 23 million users on a year - over - year basis . [ 1 ] On a constant currency ( non - GAAP ) basis , we assume that the exchange rate in the third quarter of 2021 had been the same as it was in the third quarter of 2020 , or RMB 6.92 = US $ 1.00 . Third Quarter 2021 Financial Results For the third quarter of 2021 , Weibo's total net revenues were $ 607.4 million , an increase of 30 % compared to $ 465.7 million for the same period last year . Advertising and marketing revenues for the third quarter of 2021 were $ 537.6 million , an increase of 29 % compared to $ 416.7 million for the same period last year . Advertising and marketing revenues excluding ad revenues from Alibaba were $ 516.8 million , an increase of 33 % compared to $ 387.5 million for the same period last year , primarily attributable to solid advertising demand from key industries as well as strong sales execution . VAS revenues for the third quarter of 2021 were $ 69.8 million , an increase of 42 % year - over - year compared to $ 49.1 million for the same period last year , mainly attributable to the incremental revenues derived from the interactive entertainment company acquired in November 2020 , while partially offset by decrease of revenue from live streaming business . Costs and expenses for the third quarter of 2021 totaled $ 394.4 million , an increase of 29 % compared to $ 304.8 million for the same period last year . The increase was primarily due to higher personnel - related cost and marketing expense . Income from operations for the third quarter of 2021 was $ 213.0 million , an increase of 32 % compared to $ 161.0 million for the same period last year . Operating margin was 35 % , same as last year . Non - GAAP income from operations was $ 248.7 million , an increase of 39 % compared to $ 179.4 million for the same period last year . Non - GAAP operating margin was 41 % , compared to 39 % last year . Non - operating income for the third quarter of 2021 was $ 0.2 million , compared to a non - operating loss of $ 97.5 million for the same period last year . Non - operating income for the third quarter of 2021 mainly included ( i ) a $ 36.4 million net gain on fair value change of investments , which is excluded under non - GAAP measures ; ( ii ) a $ 36.0 million impairment charge on equity investments , which is excluded under non - GAAP measures ; and ( iii ) a $ 0.5 million net interest and other expense . Income tax expenses for the third quarter of 2021 were $ 31.4 million , compared to $ 30.0 million for the same period last year . Net income attributable to Weibo for the third quarter of 2021 was $ 181.7 million , compared to $ 33.8 million for the same period last year . Diluted net income per share attributable to Weibo for the third quarter of 2021 was $ 0.78 , compared to $ 0.15 for the same period last year . Non - GAAP net income attributable to Weibo for the third quarter of 2021 was $ 209.6 million , compared to $ 152.9 million for the same period last year . Non - GAAP diluted net income per share attributable to Weibo for the third quarter of 2021 was $ 0.90 , compared to $ 0.66 for the same period last year . As of September 30 , 2021 , Weibo's cash , cash equivalents and short - term investments totaled $ 2.71 billion . For the third quarter of 2021 , cash provided by operating activities was $ 226.0 million , capital expenditures totaled $ 8.3 million , and depreciation and amortization expenses amounted to $ 14.1 million . Business Outlook For the fourth quarter of 2021 , Weibo estimates its net revenues to increase by 15 % to 20 % year - over - year on a constant currency basis . This forecast reflects Weibo's current and preliminary view , which is subject to change . Conference Call