Weibo Corporation

Joining me today are our Chief Executive Officer, Gaofei Wang, and our Chief Financial Officer, Liz Hou. The conference call is also being broadcasted on the internet, and it's available through Rainbow's IR website. Before the management remarks, I would like to read you the same Harvard statement in connection with today's conference call. During today's conference call, we may make four looking statements. Statements that have not historical facts, including statements of our beliefs and expectations, forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. The State Board assumes no obligation to update the forward-looking statement in this conference, conference call, and elsewhere. Further information regarding this and other risks is included in Weibo's annual report on Form 30S and other findings with the SEC. All the information provided in this press release is occurring as a dead hero. People assume no obligation to update such information, except as required and an applicable role. Additionally, I would like to remind you that our discussion today includes certain non-debt measures, which includes stock-based compensation and certain other expenses. We use non-debt financial measures to gain a better understanding of Weibo's comparative operating performance and future prospects. Our non-GAAP financials exclude certain expenses, gains or losses, and other items that are not expected to result in future cash flows or a non-recurring nature or are not indicative of our core operating results and outlook. Please refer to our press release for more information about our non-GAAP measures. The loading management prepared remarks. We open the lines for a brief Q&A session. With this, I'd like to turn the call over to our CEO, Gauteng Wang. Thank you. Hello, everyone. Welcome to Weibo's first quarter 2026 earnings conference call. On today's call, I'll share with you highlights on Weibo's product and monetization in the first quarter of 2026.

In terms of users, since the end of the first quarter, our monthly users have reached 5.62 billion, and our monthly users have reached 254 billion. As you can see, the MAU of Weibo has decreased significantly. Mainly because our strategy is more focused on the growth of user experience and process, and the direction of investment on the channel, focus on the transition, and improve the transfer efficiency of all users to Weibo users. At the same time, and the growth of the core user group of mobile phone products, as well as the continued increase in the consumption of platform video content. The core users of the platform, including the size and usage frequency of interaction and click-on users, have maintained a steady trend. The drop-out rate has shown a small growth.

In the first quarter, mobile phone sales reached $4.213 billion, with a 6% increase that year. Among them, advertising sales reached $3.698 billion, with a 6% increase that year.