WEIBF WEIBO Corp

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Executive Summary

Weibo reported Q1 2026 revenue of $421.3 million (+6% YoY), with advertising revenue up 9% to $369.8 million. However, GAAP net income attributable to shareholders plunged 68% to $34.7 million ($0.14 diluted EPS) from $107.0 million ($0.41) a year ago, driven by a $59.9 million non-operating loss including $35.0 million in fair value investment losses and $22.1 million in equity method losses. Non-GAAP net income also fell 23% to $91.9 million from $119.5 million, and non-GAAP operating margin contracted to 28% from 33%.

Actionable Insight

Key Facts

• Q1 2026 net revenues $421.3 million, +6% YoY from $396.9 million
• Advertising and marketing revenues $369.8 million, +9% YoY from $339.1 million
• GAAP net income attributable to shareholders $34.7 million, down 68% from $107.0 million YoY
• GAAP diluted EPS $0.14, down from $0.41 YoY
• Non-GAAP net income attributable to shareholders $91.9 million, down 23% from $119.5 million YoY
• Non-GAAP diluted EPS $0.34, down from $0.45 YoY
• Non-operating loss of $59.9 million vs non-operating income of $22.1 million YoY, including $35.0M fair value investment loss and $22.1M equity pick-up losses
• Non-GAAP operating margin 28%, down from 33% YoY
• Cash, cash equivalents and short-term investments $2.59 billion as of March 31, 2026
• MAUs 562 million, DAUs 254 million in March 2026

Financial Impact

GAAP net income fell 68% YoY to $34.7M; non-GAAP net income fell 23% to $91.9M; non-GAAP operating margin contracted 500 bps to 28%

Risk Factors

• Continued equity method investment losses from affiliates (SINA loans of $397.9M outstanding)
• Fair value investment losses may recur given volatile Chinese equity markets
• Non-GAAP operating margin compression from 33% to 28% indicates rising cost structure
• VAS revenue declining 11% YoY shows weakness outside core advertising

Market Snapshot

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

US Market Status

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