Q2 2026 Weibo Corp Earnings Call Transcript
Key Points
- Total revenue increased 2% year over year to USD453.8 million, with VAS revenue up 19%.
- Advertising revenue from automobile, internet services, and food and beverage sectors saw solid year-over-year growth.
- Video consumption improved, with total time spent on video views growing double digits year over year and average time per user increasing even more.
- AI integration in advertising improved eCPM and reduced negative feedback rates by over 30% for AI-optimized e-commerce creatives.
- Super Topics daily active users and discussion participants grew double digits year over year, driven by new features and AI-enhanced content generation.
- Advertising revenue decreased 1% year over year due to consumption market headwinds and tightened advertiser budgets.
- DAU base declined slightly year over year in June, impacted by channel budget rationalization and low-frequency user adaptation to feed changes.
- Operating margin fell to 28% from 36% year over year, due to higher ad production costs and marketing expenses.
- Third-quarter advertising revenue growth is expected to face pressure from a high base due to last year's food delivery price war and lower World Cup ad contributions.
- Handset sector ad revenue declined due to soft demand and rising component costs, while e-commerce and cosmetics verticals also faced headwinds.
Good day, and thank you for standing by. Welcome to the Weibo reports second-quarter 2026 financial results conference call. (Operator Instructions) Please note that today's conference is being recorded.
I would now like to turn the conference over to your speaker, Sandra Zhang, IR. Please go ahead.
Thank you, operator. Welcome to Weibo's second-quarter 2026 earnings conference call. Joining me today are our Chief Executive Officer, Gaofei Wang; and our Chief Financial Officer, Fei Cao. This conference call is also being broadcasted on the internet and is available through Weibo's IR website.
Before the management remarks, I would like to read you the Safe Harbor statement in connection with today's conference call. During today's conference call, we may make forward-looking statements, statements that are not historical facts, including statements of our beliefs and expectations. Forward-looking statements involve inherent risks and uncertainties.
A number of important factors could
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