Weibo (WB) Annual Income Statement

Income Statement Summary

Weibo (WB) annual income statement covering fiscal 2012 through 2017, as reported to the SEC.

Weibo reported total revenues of $1.15B in fiscal 2017, up 75.4% from $655.8M in fiscal 2016.
Income from operations was $407.55M, up 189.1% from $140.98M. Operating margin was 35.4%.
Net income was $352.59M, up 226.4% from $108.03M. Net margin was 30.7%.
Diluted (in dollars per share) was $1.56, up 225% from $0.48.
Cost of revenues took 20.1% of total revenues, product development 16.8% and general and administrative 3.7%.

Total revenues have grown 77.1% a year on average since fiscal 2012, from $65.93M to $1.15B, rising in every year shown.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12
Revenues:
Advertising and marketing revenues
Third parties
780,545	428,275	207,657	129,644	96,976	51,049	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Third parties						780,545	428,275	207,657	129,644	96,976	51,049	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total advertising and marketing revenues
996,745	570,982	402,415	264,782	148,426	51,049	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total advertising and marketing revenues						996,745	570,982	402,415	264,782	148,426	51,049	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Value-added services revenues
153,309	84,818	75,476	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Value-added services revenues						153,309	84,818	75,476	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other revenues
-	-	-	69,390	39,887	14,880	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other revenues						-	-	-	69,390	39,887	14,880	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total revenues
1,150,054	655,800	477,891	334,172	188,313	65,929	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total revenues						1,150,054	655,800	477,891	334,172	188,313	65,929	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Costs and Expenses
Cost of revenues
231,255	171,231	141,960	83,599	59,891	46,429	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of revenues						231,255	171,231	141,960	83,599	59,891	46,429	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing
275,537	148,283	126,059	120,361	63,076	40,380	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales and marketing						275,537	148,283	126,059	120,361	63,076	40,380	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Product development
193,393	154,088	143,444	125,832	100,740	71,186	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Product development						193,393	154,088	143,444	125,832	100,740	71,186	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
42,315	41,218	28,925	26,483	23,214	5,778	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						42,315	41,218	28,925	26,483	23,214	5,778	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total costs and expenses
742,500	514,820	440,388	356,275	246,921	163,773	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total costs and expenses						742,500	514,820	440,388	356,275	246,921	163,773	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income from operations
407,554	140,980	37,503	-22,103	-58,608	-97,844	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income from operations						407,554	140,980	37,503	-22,103	-58,608	-97,844	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (loss) from equity method investments
1,030	-130	-6	-5	-1,236	-1,340	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (loss) from equity method investments						1,030	-130	-6	-5	-1,236	-1,340	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Realized gain from investments
14	534	944	481	397	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Realized gain from investments						14	534	944	481	397	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investment related impairment
4,747	40,161	8,005	2,521	2,526	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investment related impairment						4,747	40,161	8,005	2,521	2,526	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Remeasurement gain upon obtaining control (Note 6)
-	-	-	-	3,116	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Remeasurement gain upon obtaining control (Note 6)						-	-	-	-	3,116	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest and other income, net
13,260	8,757	6,344	6,780	-2,871	-4,853	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest and other income, net						13,260	8,757	6,344	6,780	-2,871	-4,853	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of investor option liability (Note 15)
-	-	-	-46,972	21,064	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of investor option liability (Note 15)						-	-	-	-46,972	21,064	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income tax expenses
417,111	109,980	36,780	-64,340	-40,664	-104,037	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income tax expenses						417,111	109,980	36,780	-64,340	-40,664	-104,037	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision of income taxes
66,746	4,316	2,591	1,128	271	-1,551	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision of income taxes						66,746	4,316	2,591	1,128	271	-1,551	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income
350,365	105,664	34,189	-65,468	-40,935	-102,486	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income						350,365	105,664	34,189	-65,468	-40,935	-102,486	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net loss attributable to non-controlling interests
-2,225	-2,363	-556	-143	-1,145	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net loss attributable to non-controlling interests						-2,225	-2,363	-556	-143	-1,145	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to Weibo
352,590	108,027	34,745	-65,325	-39,790	-102,486	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to Weibo						352,590	108,027	34,745	-65,325	-39,790	-102,486	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other comprehensive income (loss)
Currency translation adjustments (net of tax of nil, nil, and nil for 2015, 2016 and 2017, respectively)
37,822	-18,898	-7,874	-1,450	-174	18	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Currency translation adjustments (net of tax of nil, nil, and nil for 2015, 2016 and 2017, respectively)						37,822	-18,898	-7,874	-1,450	-174	18	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Available-for-Sale securities
Change in unrealized loss from available-for-sale securities (net of tax of nil, nil, and nil for 2015, 2016, and 2017, respectively)
-995	-2,557	-198	-2,067	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in unrealized loss from available-for-sale securities (net of tax of nil, nil, and nil for 2015, 2016, and 2017, respectively)						-995	-2,557	-198	-2,067	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reclassification adjustment for net loss included in net income (net of tax of nil, nil, and nil for 2015, 2016, and 2017, respectively)
-	-4,822	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reclassification adjustment for net loss included in net income (net of tax of nil, nil, and nil for 2015, 2016, and 2017, respectively)						-	-4,822	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net change, net of tax
-995	2,265	-198	-2,067	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net change, net of tax						-995	2,265	-198	-2,067	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive income
387,192	89,031	26,117	-68,985	-41,109	-102,468	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive income						387,192	89,031	26,117	-68,985	-41,109	-102,468	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Comprehensive loss attributable to non-controlling interests
-1,926	-2,637	-829	-366	-888	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Comprehensive loss attributable to non-controlling interests						-1,926	-2,637	-829	-366	-888	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Comprehensive income attributable to Weibo
389,118	91,668	26,946	-68,619	-40,221	-102,468	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Comprehensive income attributable to Weibo						389,118	91,668	26,946	-68,619	-40,221	-102,468	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Shares used in computing net income per share attributable to Weibo:
Basic (in shares)
220,555	214,745	208,163	186,878	146,820	140,831	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in shares)						220,555	214,745	208,163	186,878	146,820	140,831	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)
225,363	222,859	217,918	186,878	146,820	140,831	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)						225,363	222,859	217,918	186,878	146,820	140,831	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income per share:
Basic (in dollars per share)
1.60	0.50	0.17	-0.35	-0.27	-0.73	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						1.60	0.50	0.17	-0.35	-0.27	-0.73	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
1.56	0.48	0.16	-0.35	-0.27	-0.73	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						1.56	0.48	0.16	-0.35	-0.27	-0.73	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx