influences. However, the current Weibo is still choosing to work on social products, and has launched an oasis and an “ADA community.”
In addition, Weibo’s value-added service revenue is not ideal. During the quarter, Weibo’s value-added services revenue was $55.3 million, up 9% from $50.9 million in the same period last year. According to the financial report, the year-on-year growth of value-added services was mainly due to the revenue generated by the live broadcast business acquired in the fourth quarter of 2018.
In the third quarter of 2019, Weibo’s costs and expenses totaled $295.2 million, compared to $298.2 million in the same period last year. Under non-GAAP, Weibo Q3 costs and expenses were $277.5 million, compared to $272.2 million in the same period last year. As of September 30, 2019, Weibo’s cash, cash equivalents and short-term investments totaled $2.37 billion.
From these data, Weibo does not have large expenditures. But if you want to incubate new products on the C side and find breakthroughs on the B side, this requires the company to give more financial support. It is understood that Oasis has received a lot of resources in the company, and it is also a product that is more important.
For the performance of the next quarter, Weibo expects the net revenue year-on-year growth rate from 0% to 3% based on the exchange rate of the same period last year.
(The title map is from Weibo)