everyone. we our Hello, cost top joining achieved operational and further We we ROI-based strategy, Thank solid of Thank quarter, development us the marketing as disciplined bottom high-quality you, for to second growth committed In line efficiency. management executing our overall continue our Saifi. to pursue the and remain elevating you business. today.
to high We leveraged our achieve have cash rates return support position. the strong higher to also strategically interest
a we XX.X%. of of XX.X% margin As a net of a profitability result, and maintained healthy level with margin a non-GAAP net
growth move we all position high-quality cash efficiency. sustainable the our generate and half continue that believe year into to for of ample second strong future leverage and capabilities our will we As equip We opportunities and our will strategy see execution value enhance foster to further XXXX, stakeholders. us our growth
would walk of like second I financials for you XXXX. to detailed through the quarter our Now
increase monetization Our the our the was the driven second X.X% in by XXXX, year. last user $XX.X broadening of quarter $XX.X million of our enhanced base of increase in capabilities. second The and primarily were revenues a million from quarter
our at look a and take let's costs Now expenses.
million expenses $XX.X million year. $XX.X second Our relatively the at of in quarter remained stable period total costs same with compared the XXXX and in last
the in period down million quarter $XX.X to million last in X.X% year. of $XX.X by the XXXX, decreased second same revenues of cost Our from
our a well primarily payment decrease The as in diversified compared with from to was XXXX percentage due a as the technical last service channels third-party more disciplined to revenues as of of as lower Cost a management. fees cost paid same second XX.X% total in as result revenues fees of decreased our payment lower quarter we year. of platforms XX.X% commission the period
second relatively million increase and with acquisition selling due associated period million remained of higher last compared marketing the stable expenses related a percentage year. our expanding Our user in expenses efforts marketing The increased period from to Selling was and and total product year. the promotions $XX.X increase at a the advertising same last XX.X% $XX.X in XXXX, in of XX.X% marketing portfolio. promotion expenses same were XX.X% as primarily with to the quarter revenues and
$X quarter from XX.X% incentive the administrative $X.X in and in second compensation fees. year, at were professional the million administrative to relatively period total last the year. and with increase and percentage of an XXXX, same as general XX.X% primarily increase in remained X.X% General a Our due same compared in a revenues period of increase million an last in expenses service expenses stable
the primarily year, appreciation of decrease expenses $X.X technology quarter XXXX, salaries the the revenues of a resulted benefits second XX.X% to the period to from for benefits of in product quarter of X.X% reporting and our technology showing million expenses total of were in second the product product globalized $X.X development quarter a of decrease second of in Technology talent Our development from acquisition as and in XXXX. strategy. due same development our a XX.X% which million decreased U.S. the percentage currency one in XXXX and of team, dollar, amount in the last and
year. $XX.X compared million quarter As operating income period such, in to XXXX million in with same our the last increased the $XX.X second of
compensation, share-based quarter operating $XX.X of in million. non-GAAP our Excluding XXXX income was the second
$X.X in deposits with continued quarter due primarily Our the same second compared interest company's rates a in to of cash applicable the $XXX,XXX in of increase XXXX and position. XXXX, interest the significant to period the bank income was million our in increase
$XXX,XXX of tax income XXXX same second with in compared last year. Our $XXX,XXX period the was the quarter in
to bottom Moving our line.
to last Our million net million year. XX% compared the period $XX.X with income of increased quarter second by $XX.X same in the XXXX in
Excluding quarter of income the to for second XXXX million. share-based by compensation expenses, net year-over-year non-GAAP XX% increased $XX.X
Next, like to our through cash resources. I would go and liquidity briefly capital
position cash solid. remains Our
As of XX, deposits had and $XXX of cash million investments June XXXX. million we term of December $XXX.X with XX, and equivalents, XXXX, short-term as compared cash
open or ADS by the A that Board $XX of XXXX. program XX, cash through repurchase our XXXX, approximately totaling May shares share our Under ordinary million May as have since has in market and June X,XXX,XXX extended XX, we repurchases, began Class repurchased XX, XXXX,
outlook. our to Moving
of and based For conditions be and quarter are to the estimates the revenues customer million above company's operating the to The current $XX and market $XX our the current XXXX, market the on change. which of expect and demand, subject all outlook million. preliminary we and management's conditions between third is reflects
our questions. prepared today. for remarks Operator, are take now to we concludes This ready
