Weibo Corp (NASDAQ:WB), a leading social media in China, stock rose 0.91% (As on March 14, 11:30:09 AM UTC-4, Source: Google Finance) after the company beats topline expectations for the fourth quarter of FY24. Advertising and marketing revenues for the fourth quarter of 2024 were US$385.9 million, a decrease of 4% compared to US$403.7 million for the same period last year. The decrease was mainly due to the underperformance of online game sector, as we faced a tough year-over-year comparison due to the concentrated release of blockbuster games in the fourth quarter of 2023. VAS revenues for the fourth quarter of 2024 were US$71.0 million, an increase of 18% year-over-year compared to US$59.9 million for the same period last year, primarily driven by the growth of membership services and game-related revenues. Non-GAAP income from operations was US$136.2 million, compared to US$145.9 million for the same period last year. Non-GAAP operating margin was 30%, compared to 31% last year. Non-operating loss for the fourth quarter of 2024 was US$85.1 million, compared to non-operating income of US$42.3 million for the same period last year. Net income attributable to Weibo’s shareholders for the fourth quarter of 2024 was US$8.9 million, compared to US$83.2 million for the same period last year.

WB in the fourth quarter of FY24 has reported the adjusted earnings per share of 40 cents, which matches the analysts’ estimates for the adjusted earnings per share of 40 cents. The company had reported the adjusted revenue decline of 1 percent to $456.8 million in the fourth quarter of FY24, beating the analysts’ estimates for revenue of $453.11 million. As of December 31, 2024, Weibo’s cash, cash equivalents and short-term investments totaled US$2.4 billion. For the fourth quarter of 2024, cash provided by operating activities was US$244.0 million, capital expenditures totaled US$17.7 million, and depreciation and amortization expenses amounted to US$14.4 million.

Additionally, the company has declared a cash dividend of US$0.82 per ordinary share, or US$0.82 per ADS, payable in U.S. dollars, to holders of record of ordinary shares and ADSs as of the close of business on April 9, 2025, Beijing/Hong Kong Time and New York Time, respectively. For fiscal year 2024, cash provided by operating activities was US$639.9 million, compared to US$672.8 million for 2023. Capital expenditures totaled US$61.5 million, and depreciation and amortization expenses amounted to US$58.1 million.