Here is a summary of Weibo Corporation's Q1 2023 earnings call, which took place on May 25:
- Weibo's MAUs reached 593 million and average DAUs reached 255 million in Q1 2023.
- Weibo's total revenues decreased by 15% or 7% YoY on a constant currency basis in Q1, due to the pandemic macro uncertainties and low ad demand.
- Weibo focused on improving operating efficiency and non-GAAP operating income reached US$128.6 million, representing a non-GAAP operating margin of 31%.
- Weibo adapted to changes in user demand while maintaining investment in key content verticals and increased content supply and diversity to boost user engagement.
- Weibo plans to launch tools in Q2 to assist creators and improve efficiency for creative ad solutions.
- Weibo's overall monetization strategy focuses on enhancing the marketing combo, supported by KOL distribution across verticals and traffic contact featuring strong exposure and mindset cultivation.
- Weibo's ad revenues were down by 17%, with mobile ad revenues contributing approximately 95% of total ad revenues.
- Weibo's VAS revenues were $58.7 million in Q1 2023, an increase of 2% or 10% on a constant currency basis use, mainly attributable to revenue from the e-commerce business.
- Weibo plans to utilize its AI capabilities to help enhance the efficiency of personalized and individualized content creation for its users.
- After a weak Q1, the advertisement industry's recovery has been positive in Q2, with double-digit growth in 3C digital products, handsets, and automotive industries.
This is an AI generated summary. There may be inaccuracies.
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