Weibo (WB.US)It was announced that net revenue for the second quarter fell 10% year-on-year to US$387 million (same below), higher than market expectations of $381 million; revenue at fixed exchange rates fell 7% year-on-year; advertising and marketing revenue during the period fell 8% year-on-year to $341 million, while revenue from value-added services fell 23% year-on-year to 46.8 million yuan.

During the period, net profit was 198 million yuan, an increase of 92.6% year-on-year; net profit of 115 million yuan based on non-GAAP, adjusted net profit per share was 0.5 yuan, higher than market expectations of 0.47 yuan.

As of the end of June, the Group's monthly active users were 523 million, with mobile phone monthly active users accounting for 94%, while the number of daily active users was 229 million.

Based on a fixed exchange rate, Weibo expects net revenue for the third quarter to drop 5% to 7% year-on-year. (el/u) (Quotes delayed at least 15 minutes.)