Weibo announces first quarter 2023 results: advertising revenue declines, user base continues to grow

Weibo Company announced its unaudited results for the first quarter as of the end of March, with the specific date being May 25. It is understood that compared with the same period last year, Weibo's net revenue in the first quarter dropped 15% to only US$413.8 million. At the same time, net profit reached US$101 million, and earnings per share were US$0.47. Compared with the same period last year, Weibo has achieved significant growth.

Weibo’s advertising and marketing revenue in the first quarter was US$355.3 million, a 17% decrease from the same period last year. This decline may be related to increased competition in the market. However, despite facing some challenges, Weibo still maintains a high number of monthly active users. According to statistics, Weibo’s monthly active users in the first quarter reached 593 million, a net increase of approximately 11 million from the same period last year, of which mobile users accounted for 95%. This shows the continued popularity of Weibo in the mobile Internet field.

In addition, Weibo’s average daily active users in the first quarter were 255 million, an increase of approximately 3 million from the same period last year. This data shows that Weibo still maintains a good momentum in terms of user activity. Weibo continues to introduce features and content that attract user participation and active interaction, attracting more users.

Although Weibo’s advertising and marketing revenue has declined, overall it is showing a positive growth trend in terms of user scale and participation. In order to stabilize and expand market share, Weibo will continue to improve user experience and strengthen the matching between advertising and content. As the mobile Internet continues to develop, Weibo is expected to continue to play an important role in the social media field, creating more opportunities and value for advertisers and users.

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