Weibo (WB) has released an update.
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Weibo Corporation, a major player in China’s social media space, has released its financial figures for the second quarter of 2024, showing a slight 1% dip in net revenues year-over-year, amounting to $437.9 million. Despite a decrease in advertising and marketing revenue, the company witnessed a 15% growth in value-added services (VAS) revenue and an increase in both net income and operating efficiency, with net income attributable to shareholders reaching $111.9 million. The firm cites enhanced user engagement and a solid execution of its content strategy as key drivers for its performance during the quarter.
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