The Zhitong Finance app learned that on September 28, before the US stock market, Weibo (WB.US) published the financial report for the second quarter ending June 60, 2020.

According to financial reports, Weibo's revenue for the second quarter was 387 million US dollars, down 10% from the previous year. By business division, revenue from the advertising and marketing business was US$340 million, down 8% year on year; revenue from the value-added services business was US$46.8 million, down 23% year on year. The main factor of the decline was the decline in live streaming business.

Costs and expenses for the second quarter totaled US$281.2 million, which is basically the same as the same period last year.

Net profit of the mother was 198 million US dollars, up 92.6% year on year. Earnings per diluted share were $0.86, compared to $0.46 for the same period last year.

As of June 2020, the number of monthly active users (MAU) of Weibo was 523 million, a net increase of about 37 million over the previous year. Mobile MAUs account for about 94% of MAUs. The average daily active users (DAU) was 229 million, a net increase of about 18 million over the previous year.

In the second quarter, cash from operating activities was US$121.7 million, total capital expenditure was US$8.4 million, and depreciation and amortization expenses were US$6.9 million.

As of June 30, 2020, Weibo held a total of $2.33 billion in cash, cash equivalents, and short-term investments.

Weibo expects revenue for the third quarter of 2020 to drop 5% to 7% year on year after excluding the impact of the exchange rate.