Weibo publishes financial reports, net revenue rises 47% from a year earlier

"TechWeb Report" March 11 News, micro-blog today released the fourth quarter as at December 31, 2014 and the full year of unaudited financial reports. Earnings showed net revenue of $105.2 million, up 47% from a year earlier, with a net profit of $4.6 million for ordinary shareholders in Weibo, down 79% from a year earlier, and a net profit of 2 cents for every common stock.

Performance Highlights

Advertising and marketing revenues were 88 million dollars, up 57% from a year earlier.

Micro-blogging value-added services (micro-VAS) revenue of 17.2 million U.S. dollars, up 12% from a year earlier.

The number of active subscribers in December 2014 (MAU) was 175.7 million, up 36% from a year earlier. The average number of active users in December 2014 (DAU) was 80.6 million, up 31% from a year earlier.

Financial data

Costs and expenses in the fourth quarter of 2014 amounted to $100.3 million trillion, compared with $70.2 million a year earlier.

Operating earnings in the fourth quarter of 2014 were $4.9 million trillion, compared with $1.2 million a year earlier.

Non-operating earnings for the fourth quarter of 2014 were $3 million trillion, compared with $19.9 million a year earlier. Non-operating earnings in the fourth quarter of 2014 included interest income of USD 1.8 million, which was $400,000 a year earlier.

As of December 31, 2014, Weibo's cash, cash equivalents and short-term investments amounted to USD 449.9 million. In the fourth quarter of 2014, the cash used for operating activities was USD 32.1 million, with capital expenditure of USD 3.8 million and depreciation and amortization costs of USD 6.1 million.

Management position Adjustment

Weibo announced changes to management positions, and the incumbent chief financial officer, Zhang Yi, will assume the new position as chief financial officer of Sina, the company's parent company, and Mr. Yu Zhengjun, the current chief financial officer of Sina, will serve as chief financial officer of the company. The above adjustments will take effect immediately.

Performance Outlook

Weibo expects net revenue to be between 93 million and 96 million dollars in the first quarter of 2015. This is expected to reflect the current initial judgment of Weibo, which may be adjusted in the future. (Mingyu)