WB - Earnings call transcript Q2 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and thank you for standing by. Welcome to Weibo's Second Quarter 2022 Financial Results Call. At this time, all participants are in a listen-only-mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. to conference like to I'd now hand over the Ms. And from Weibo Zhang IR Sandra team. you. Thank ahead. go Please

Sandra Zhang

Thank to operator. you, Welcome conference XXXX call. earnings Weibo's second quarter

Wang; through Officer, today our broadcasted call on me are and Chief website. being Officer, Joining is Internet available our is also Chief IR Cao. Fei Gaofei Financial the The Weibo's conference Executive and

today's to harbor statement safe the Before conference you call. read management remarks, I the connection would with like in

not forward-looking today's including historical conference are call, statements During and facts, make of statements, beliefs may our statements that we expectations.

and Forward-looking inherent materially A involve any factors statements important contained could those actual risks forward-looking differ uncertainties. to number results of statements. in cause from

information as All Weibo date this the update annual We XX-F except other this in information, forward-looking obligation and statements the release call report with and no is law. other the information will assumes obligation this provided filings in of occurring included hereof. on is regarding assume required risks to Form applicable in Weibo's the under and such no conference as elsewhere. update Further SEC. press to

Additionally, which I and performance stock-based remind would gain to other discussion that understanding financial future Weibo's a and certain non-GAAP We measures excludes expenses. use compensation prospects. non-GAAP certain better like today includes operating our of to measures, you comparative

not for in non-GAAP or expected our press are non-GAAP to in Our nature about and and more losses, of future are financials outlook. information our exclude operating certain to results result not non-recurring refer payments and items that our expenses, release measures. other Please gains cash core or indicative

this, call would brief open our up Gaofei over like Wang. Q&A we to remarks, session. lines the prepared the will for management's CEO, to turn a I With Following

Gaofei Wang

Weibo's XX% call. you. Hello, million, users in X the and today's Language] On with users product conference second of certain user second clients. quarter lockdown I in [Foreign in June, reached affected everyone, Weibo's adding monetization of by Weibo's China monetization [Foreign the Language] and step front, the of earnings with you quarter, the In XXX our [Foreign the the operation. beginning since gradually respectively. Language] second million XXXX, will together the [Foreign and highlights share into margins Weibo's Shanghai from XXX user measures cut in In quarter ad June million Our call, this daily COVID reached back resurgence is with to year-over-year, MAU or marketing XXXX June, came lockdown areas their second of And million MAUs welcome Language] clients of mobile. by in adversely postponed came quarter. most and On XXXX. average XX Thank Beijing the step, ended approximately placement

this reached marketing or XX% on In As their the advertisers event quarter, currency gradually resumed of basis. key June online a cost, year-over-year million, of a our decrease campaigns. total US$XXX.X revenues e-commerce 'XX XX% year-over-year constant

and revenues mobile. US$XXX.X came ad revenues XX% decrease our ad of a Our XX% year-over-year from million, of reached

user high-quality our and a one channels channels year, costs decreased [Foreign by third acquisition our about improving improve engagement. channel in in reached increase on you optimization the continue acquisition continue share on scale to ROI Language] ago, we we This second focus representing deepen user quarter. Language] the margin investment cooperation first up me half for product strategies quarter, of enhancing continue to implement conditions, channel focus monetization second we as front, this front, On user the competitiveness Weibo's drive user current given the and in product quarter. to on efficiency, market operating XX% maintain prior US$XXX.X made XX%, operating non-GAAP non-GAAP year progress ROI. and quarter, with million, to budget low from of efficiency. In the reduce with On and channel our [Foreign from income let Next, a operating our in

user strategic June increased channel trends, the cooperation ecosystem. Channel order last the and to December. front cooperation more and based and on Weibo's to product portals. essential with year, hot reach in than our our by trend. as of trends in innovating stepped more the and XX% social a application promote of initiatives partners Weibo content have hot available we significantly hot Weibo strengthen In first partners, their With users services up key to trend, hot These half hot in been influence content this on trends making year Weibo's more we in channel efficiency from increased related users with this acquisition

the increase content and to the more on engagement the In the ROI can and traffic. of products influence sides. brand hand, feeds features year enhance trying by maintaining distribution drive and end, in distribution mix notable of feed, both KOLs. more users scale, our jointly partners, To traffic addition, including user channel second relationship-based with we our of actively These allow to and that half one of overall on channel have content to this deliver of for approaches results social we the shall core improve improve interaction. attributes, attempts continue put and emphasis we monetization monetization linked exposure relationship-based stable On on [Foreign the towards the generated corporation social of Language] further been high-quality while our optimizing scale We investment. more

distribution the our interactions progress. of the growth to to notable content basically on relationship the increased the communities the further Language] On adjustment of algorithms In support has which relationships healthy products group of posted and [ph] user mix On long-term high-quality key of accounts benefit and year. In the March front, and stickiness in encouraging year, by Language] itself. the focused operating we On and users of In June, to nodes current independent improve the relationship-based first we topic bottom the users content also deal, relationship-based social the user increase of content December. to from engagement that of via the engagement mechanism and on number continue June, [Foreign In an user market in main on page the content resources digits community feed. traffic tenants platform. Such in has feed, UGC community system consumption it super users from similarly increased maintained community in Weibo hand, topic users made by clear make and the locations. dominated XX% and and optimizing from development It in community more double-digit and its we engagement super efficiency. community content the operation feed. the based than with interaction platform shown of interaction and the and at accounts this the [Foreign in Weibo. traffic relationship enhances we the user with growth to remained steady of the tab grew the environment, on more enhance make our on feed. this improved half distribute users can social need build the consume interest the key the other with traffic and from more increased We're March establish efficiently make stickiness. distribution products, the general, to verticals products main June, improved In the gradually product number upgraded as of double the traffic progress, verticals accounts last our In year, this key we these

definitely the We half impact cooperation For e-sports events example, of this e-sports on in year. in the gaming first vertical, and club. we focus with

well as Our over with covered and XX% on domestic fully operation influential in abroad, players their as Weibo. verified China of events account club

Our content The monetization verticals. social investment top than and traffic after in capability attributes, video to the In from to our front, encourage to growth of video December, the on number the the and high-quality in sports ecosystem shifted last double-digit continue account more Weibo a continue Olympics, grow, viewership to December. June focus gaming video further which these compared for and benefiting in has on promoted resulting video On improved e-sports doubled the around their gaming in athletes capability platform on from Weibo. top more interaction account, engagement e-sports these winter of the traffic we athletes monetization of operation last to vertical and accounts its their also vertical, views

have the positive new such on by environment China's in as for mass the way support that for signal vehicles. being made to placement test operate economy second towards energy saw pandemic. new on driven we meantime, implemented, domestic saw a macro a Despite we of the are challenging policies [Foreign quarter, landscape We policy users client trends our Language] a current In the for social initiatives competitive market to monetization. top platform glad in platforms. Moving incentive

for ads. brand This e-commerce For advertisers to and models ad in new increased new trends performance-based industry opportunity obtain us marketing example, budget. budget and create

the and in on more half ad prevention up quarter, our performance trust On [indiscernible] in maintain such, company, the to on amid brand solution to we of industry weighed the market, a share competitiveness to activities, production, the on further value mature with focused offerings this directly Language] key intense on the beefing device As second competitive our especially logistics ads and will integrate industry. market make verticals. front, cosmetic year, [Foreign us Shanghai step and these of in performance ad elaborate, In Beijing brands marketing lockdown the disrupt sales which higher edge operations aiming efforts series our cetera. to which et core and up second we sales and To e-commerce address of off-line capture enable content trends competition. technology end both significantly marketing. and

this the reduced During significantly e-commerce budget. June launch year's Beijing's ad regional [ph] event, the climb the ad of

industry, more as COVID chain growth vehicle energy resumed and industry-wide offered plan of for marketing gradually the the from release. despite support. the we response, benefiting integrated auto industry In supply headwinds problems online a such new As policy

and on launching performance related work brand and we with were demonstrates in just viewed industries. interpretation Auto example, with ads airlines X.X KOLs generate again hot For organic XX comparable upon to and effect billion time. Weibo of times hours in amplifying topics costs we operate marketing impact to Li media release more Li then organized Coupled content and XXX,XXX with creation capability success prelaunch the blockbuster The to distribution while and story from to discussed Auto trends. the stage, Airline,

capable recognizing product media In to customers build momentum dissemination topics the for budget and original the beyond Weibo more produce content brand brands and addition launch new FMCG the Weibo of auto, plus brand launch. their amplify traditional models, to KOLs enabling events and combining hot the to of to discussion, performance and is topic luxury on the increased to recognizing Weibo. digital chose effect their industry. significantly release, and After airline product They marketing

addition, constant brand model in we operation budget performance the on game game-related their related the Language] past addition, general. - the years, rapid the quarter, capability of industry reinforce In in Entering kept cost quarter ads on be integrated advertisers with maintained as capture in second to still marketing conservative growth the X [Foreign ad seem third into the budget. which to Weibo's ad in expanding

was and resulted verticals the offerings upside, encouraged share the average market. sequential in in we maintain to return despite on gaming a the Currently, not capture The higher pandemic gaming see to consumption. auto marketing has with value of in the ease sector, development the resonate ad in content game budget. are industry we On in that integrated and market growth growth ad gradually these still have solid thus ad and approval policy the license Besides, differentiated sectors. the that that the trends and notable luxury the support branding strategy recovered, campaigns, and the share really pickup exhibited of fully recovery two

cosmetic On the full cautious sentiment, sectors still daily that customers recovery. meaning in it and to be the takes e-commerce time in ad and flip care a side, for continue

In customer our that front to execution sales ad of the ad fill industry in during promotion budgets the the efforts amid for and instance, toward step resurgence, make shipped industry For and the to to cosmetic existing technology will we sales promotion in logistics. this needs care inventories trend, to and have their fulfill production COVID breakthrough light their up and on personal customers. sales elaborate challenges accordingly

ad order cooperation coupled capture e-commerce e-commerce pushing dollars. conversion on products with with performance-based results focus certain will in investment customers' and between ad We platforms, in to optimize thus higher forward

as enrich And For we continue entertainment such our comparison cetera. et from content witnessed on meanwhile, personal quarters, still have budget. challenges content, elements face category, the will policy-based, to we of last more year diversified on prior expanding care and but due the a cosmetic Olympic-related previous tough pickup to marketing media to comp year-over-year focus with demand scenarios,

fixing differentiated the elevate initiatives our expense market. further across and [ph] our ad share Before capture budgets, us the to cost some in ad enable front. serving as in playbook Weibo's me capability Our briefly Internet operation let topic influence competitiveness optimization moving [Foreign achievements in Language] the and to strengthening cornerstone and color on financials,

the like same its year. we'd margin earnings our now non-GAAP mentioned highlight the down allocating resources will and that current the efficiency, against orders, a expense of relatively competitive last period resurgence landscape. decent the the rather the operating disruption and year. continue in on macroeconomic COVID but year-over-year to of the half XX% the decreasing our decreasing industry cost the XX%, versus cost control first weighed expenses at we is operating marketing optimize and cutting areas sales line, simply this remained this we situation level the results As year, to which improve from X% achieving despite In call, solid advantages backdrop said, in percentage of last second quarter, and revenue to in That non-GAAP reached expenses and more with top the

we strength beefed have as content evolving we acquired around with product high strategic vertical areas and On and cooperation instance, in deepen hot For users partners, up such operation, e-sports with our our ARPU. solidifying strategic with sports. events partnerships channels, more

And extend meanwhile, that cut as content in that as monetization, content our have certain in expenses and edge. we in our to non-core products. marketing While leading non-core well up fields set investments underperforming channels, non-advantage vertical service investments fields, R&D we

for of second building competitiveness. We Weibo's will year, keep Cao call Language] With the that, the half in Fei me long-term up with review. this to over turn efficiency initiative let the financial [Foreign

Fei Cao

quarter hello, XXXX Gaofei, call. second conference Welcome everyone. earnings Thank you, and to Weibo's

million In Let's achieved reached Weibo's core X a net approximately users. addition start of with XXX demonstrating disciplined of value DAUs user XX metrics. channel representing strategy was year-over-year. Weibo's This a representing MAUs users marketing proposition represent million, approximately our addition XXXX, June XXX million, Average users. million to net through

Turning to financials.

result. dollar focus unless non-GAAP All on my U.S. a remarks As prepared comparisons amounts will all and year-on-year reminder, otherwise basis, are a on monetary terms are the in noted.

XX%. XXXX. a net basis. highlights income $X.XX of $XXX.X Now constant $XXX.X through XX%. for Operating last operating $XXX.X second let income million, or representing a Weibo's quarter on was million, $X.XX of representing compared XXXX margin were second margin million, and me Net financial quarter reached currency the was you EPS decrease XX% of of attributable to walk our to net revenues a Diluted year. XX% Weibo

$XXX.X on more of of revenues you XXXX and revenues. ad million, $XXX.X marketing for give me let color approximately Now total was second to decrease ad were XX% Weibo's XX%. revenues. quarter the a revenue Mobile million, contributing advertising

economic headwinds XXXX. across activities, The quarter overall outbreak disrupting second advertising XXXX market second the with we in as resulting the the Omicron of [indiscernible] the challenging for quarter expected post broad-based

contributions verticals revenue of [ph] products leading lead terms in FMCG, were Our gaming. first and ad

integrated of in adoption, beverage solid and sales to trend social leveraging demand Benefiting terms wide plans ad the continued this and resilient from the relatively from up electronic against vehicle we solutions gaming, our capture pleased market share In are to these from customers sector, by incremental tough growth, and food our sector ad sector, execution. value conditions. marketing

increasingly fees ad side, marketing perspective, search followed such and also platform discretionary the by continued conservative logistic due regulatory [indiscernible] apparel offerings. challenges. June ad in categories, cosmetics and the consumption flip largest be disruption their to the to spend and display and ad lukewarm sentiment. weak On as underperformed and amid social conception E-commerce product topic promoting part, From XX sales turned

second seen As advertising in recovery market the second quarter have on half bottoming signs gradual sequential a and of XXXX, we basis. out a in

and could be situations light XXXX, and [indiscernible] of in fluid be considering and in However, out recovery uncertainties, post-COVID the gradual more the second resurgence half the in impacted. regions COVID wider trend more cycle COVID drawn macroeconomic

environment out Looking decrease unique conservative service strategies quarter, through its and The weak of the XX%. diversified Alibaba to from attributable proposition from That's revenue a the primarily contribution was We ecosystem mentioned second service, lots coming experience remain have game-related decreased revenues membership a of own marketing to opportunities. XX% from our million of the VAS initiatives $XX.X VAS long-term value cost less market and in our as amid stronger optimization and forward, services. second content was in lockdowns million, navigating decrease confident challenging unlock. Ad mainly due for earlier. will monetization consumption Value-added revenues and $XX.X in we revenues quarter downturn. and to

and expenses, Turning The marketing activities. due our initiatives $XXX.X the second deleverage, to quarter and factors of exceeding to to was business operating enhancing XX% cost primarily and it expenses the Operating representing expenses in a initiatives income XX%, quarter expense a received as second XX%, decrease for expenses. reduced counter operating of optimization. were Total cost off-line channel million, [indiscernible] expectations the $XXX.X and in our sales the and decrease investments demonstrating cost while and reduction in margin efficiency. million, for was operating our

year. was GAAP XX% margin compared net representing for quarter Turning attributable the expense the was quarter year. Net to to measure. income in Income to and tax a XX% second million, $XX.X last million Weibo income tax to of the $XXX.X second million last compared $XX.X

cash Turning flow to sheet items. and balance our

activities amortization expenditures and expenses premier billion million, totaled $XX.X by In cash, depreciation to quarter cash provided XXXX. of was Capital and $XX second of as amounted $X.X of XXXX, June equivalents XX, XXXX, December As $XX.X totaled billion to the XX, investments Weibo cash our million. compared million. short-term and $X

The with year ESG better and ESG an our Q&A In on details a areas making like to session, policies, long-term August, development world would we initiatives in provide the and ESG first Weibo. the for turning described performance Before our report key report, the in demonstrate which ESG update social place released our vision practices initiatives. fiscal to I of our sustainable of XXXX. power responsibility with the commitment the to

ESG visit the that, the obtain now Thank to You let over to call operator for the website disclosure. our session. Q&A information you. more may turn me of IR our With

Operator

Zhuang Miranda Securities. line you. comes America Instructions] Bank question ask from [Operator Thank first your Our of of the question. from Please

Miranda Zhuang

for more advertising. color about My the for taking and uncertainties? you're in this macro outlook get you the share the spend on questions. ad and the weak demand Can taking you half in question my address to measures to trend and you second is brand before and more discussed that Thanks. Thank that the spend the advertisers amid new COVID

Gaofei Wang

So see or half look industries, consumption-related to of also if Language] thirds we revenue the e-commerce. of and and in the we at that [Foreign year the example, at related second for electronics cell consumer our is or revenue general, phones of if look two structure Weibo, we FMCG

things for are those highly [Foreign trend the part - of Language] already are some So recovery think the industries, currently, economy. stimulus I policies. related So macro there to of the

habits And structural to industry. we recover, stimulation also, the issuance also, But the and industry. some For and the macro example, But that economy. coupons brings of behavior the the brings shifting in it policies on economy us the pass some the the time think are there advertising and of already and consumption for of takes advertising upgrade to economy some industry to offline that the for the to it consumers then from to will NAV to that benefit trend the consumption been the online, reflected have still continue. gets

are shifting their and are example, for Language] industry. and industries different. COVID some already are industry of and of [Foreign industries Language] those the automotive but our the some for like here. some their speed of is already online, product are quite since different So releases favorable the other is strategies, putting actually, So For they in the very real, [Foreign course, of mid-term trend short and the recovery recovery term, economic

some of budget shifting are offline their So the to we advertisers, the of online. they that for saw actually, and some brands for from

releases those For industry, the example, especially actually as compared the their shifting obvious the to industry. industries. quite when phone brands automotive from of XXXX similar. well the saw online, And trend very product industry, as are releases, a luxury lot is cell new trends FMCG We product

certain On to and some a actually for very the are brands, KOLs in work like out and up media, and on the Weibo, and certain the gathering advantage of we them. definitely bring have stars the taking the try other also they traditional investing area for chatter hand, this areas And actually, topics. we're in the compared to social over at good media

[Foreign So Okay. in on of that we the second definitely half of will Language] the year, focus ours. advantage

COVID So spending cosmetics some industry, the activities marketing some they're actually, and to promotions industry, COVID more as to their cosmetics reduce QX for the due and smaller for and also in outbreaks in situation other their QX the inventory. e-commerce budget on

we So in suit. those strong not of this traffic. still But for growing our things And marketing, that actually, and is users our are us. the advantage in our have steadily still two area

as in So well have the pricing traffic. inventory, as we the the do our of traffic advantage

And in some marketing the outcome us benefit term. that we also actually, to to of will help are in for the So benefit to in of algorithms clear. Language] would that ads. mid-term strategies optimize and the it area we or the term, year, that performance-based improve want but latter But much approaches, [Foreign it our for short And the not our like long our may of in the pretty area. us

the improve performance-based half. not that's the customers. ads rate marketing, also the course, in e-commerce and But the we efficiency the of algorithm our key and improve like the conversion in for to would So to improve second

especially going still on for customers second And in break to and including our area. the advantage the the So Weibo, we brand and the social that topics because to would brands of we brands ads have in especially also, area, And new to performance-based release still releases marketing, strong industry, latter the there chatter the in sales, like help that the the in of area, actually, capability will several – with cell have represent improve very plus [Foreign key part, bringing see be really industry, for automotive the to is we viral, to for can the the our topics. [ph] that certain the in products. first dense some the the for industries up the the Our [indiscernible] to our content in to for be improve half releases. we product some clear aspects we let for phone latter normal circle go the that Language] example, of ministry. half improve In are hope we QX, year there product accounts half capability year,

e-commerce industries like they want the other the promotions and the the So industry plus for half to But reduce higher advantage see growth FMCG may economic average. and the latter or are to than hand, our want some and their situation, very pressure, and content year be in on we will face our - we they product of to good marketing due some have will in since they some some campaigns. still other inventory brand with of performance-based ads, still the there

momentum also users. take and have information look our the still need taste we very to to - we our in our long-term inventory in order the but free-ads even still, at of and good So keep a in though

see users the don't discount want So the to everywhere. we

tail we still, will Difficulty] apparel our at effect, So especially scenario, core would not long we look and [Technical sacrifice industry. for the but

those we recovery. For see industries, slower still a may

Miranda Zhuang

it. So that's Thank think [Foreign you. Language] I

Operator

you. Thank

ask Ashley the comes Suisse. Ashley. Please next question, from line of from Our Xu question Credit your

Ashley Xu

related question is you. measures half? would of optimization Language] to our efficiency cost in And what's types Thank place financial What the impact? for control. [Foreign My and second be

Gaofei Wang

beginning that was So we I from XX%, starting actually, our as impact we from than X% And which COVID year, QX, already similar that expect the QX. the mentioned, the have the already the was profit Language] impact economy. foresaw didn't the is for macro outbreak. higher some around [Foreign actually, It or of of even of of just margin

actually, quarter. one for approaches, back fee XX% to third. by by down So make went same time, started compared But last our user acquisition and X% some to then, marketing year-on-year our customers the still, down and went by cost we at actually the the already down went

the with same scale, some also quality tried our to similar actually of user peel better. vision of So we invest for non-core them got off. cash with in to user the the acquisition flow, at continued our businesses time, And we And that of we core the efficiency [Foreign not that actually, our the So things the we see business judgment as well Language] as based perspective. scenarios. landscape, Actually, market operational the the optimization do industry is from just financial the competition on of trend.

One of at cost on may bring mid-term were optimistic. benefit say not reduction be may is that may judgment approaches, policies in operating our outcome some the and kind we short-term, that that the efficiency the control because a So were industry. improvement efficiency. actually, things. to to we two improve COVID of Actually, lifting the too that, look But our scientifically little to if the situation, was the we focusing optimistic for and think

bring our The other competitive is to up core edge.

So improvement of cut the as the But can our about our efficiency improve cost to actually, respect the and in be competitive in operational give improve as it efficiency, cut actually, two to So [Foreign may reflected improve examples to and the approaches cost are two core targets operation approaches our I edge. our Language] our efficiency. well our efficiency.

we at said expense and actually, channel in for XX%. But a cost, before, the as actually, our ROI marketing reduced by [ph] strategy, we channel by the So improved lot. I China same are time,

So X return. takes for spent time to that that users, much means it how RMB us cost the on get for

important for that strategic X.X even channels in now as channels key the cycle because conducted channels, key more the was very time the for in and years. the payback the actually normal users year is we cooperation X invested us the So some we past with well. But since for

And just So is special now just time phone, the the channels some payback of cell months. payback very is the X for like time months. actually, for X

won't And about we looking Because improving the And in have cannot actually, long a it's normally, the better. time. we very at efficiency. if worry actually, the already words, to payback give bad are the the user industry even about within ROI for gets negative cannot is because cost efficiency apps, So other go Actually, economy even that back get channels bad, we because the wouldn't up not term - other certain industry. if have or worse, much actually, the they just of of cycle. mid to we ROI have get short the and they

So then edge. have core the improve our that better acquisition, means the user and also if even margin a same the our at base we very gets our time, user that means for approaches can easily quality other increase good even us, And with better. that we afterwards, Language] competitive [Foreign in And can we means economy some have advantage. we

to media much our that so took have example, can for and that For verticals are solutions we very platforms. advantages the platforms, information, complementary sports those offer we gaming in, and with the mutually advantage of media news the better content for we marketing official the e-sports, we and cooperating example, industry, actually

our times And advantage at our So also us several that marketing. benefited we the because compared year. content adds the cooperation previous the same actually in time, multiplied income to their to

So other differentiated are of the we compared get official the endorsement we to platforms. more and platforms,

our areas competitive [Foreign of we the to the invest - reductions we edge. edge, can advantage, the more year, the on respect in adds focus to - the And latter in core improve latter are of can Language] more teams improve that where half cooperations the more we we of and year, competitive platforms marketing. in R&D continue using especially our with teams, will can our help generate those So definitely to also actually, in core market content efficiency we areas. cost half the to and our So example, we have we where have the for where

base are our credit line solid quality high to growth, very trying and a as compared [Technical are in levels. a as level to So hard and well term, at trying to margin efficiency steady cash industry of margin level in always high Difficulty] maintain peers, the we gross the aiming very gross a higher we our And and are and margins, respect the maintain long to we

So such those a important in very are now. market conditions things as right

with - and So all more financially. approaches, we to flexibility have those aim

Operator

you your for much questions. very Thank right. All

We Zhang of to now Mr. back the I'll conference closing have session. remarks. question-and-answer turn Sandra now the reached for the end

Sandra Zhang

quarter. the Thanks, Thank operator, you joining next We'll us. conference today. call you see for for

Operator

you conference today's concludes participating. for call. This Thank

now may You disconnect.

Weibo (WB) 1 Sep 222022 Q2 Earnings call transcript