6-K

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2017

Commission File Number: 001-36397

Weibo Corporation
(Registrant's Name)

8/F, QIHAO Plaza, No. 8 Xinyuan S. Road
Chaoyang District, Beijing 100027
People's Republic of China
(Address of Principal Executive Offices)

        Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ý                                         Form 40-F o

        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

EXHIBIT INDEX

Exhibit 99.1—Unaudited Interim Condensed Consolidated Financial Statements

Exhibit 99.2—Management's Discussion and Analysis of Financial Condition and Results of Operations

Exhibit 99.3—Press Release regarding Selected Results for the Quarter Ended September 30, 2017

Exhibit 99.4—Press Release regarding launching of the Proposed Offering of Convertible Senior Notes

Exhibit 101.INS—XBRL Instance Document

Exhibit 101.SCH—XBRL Taxonomy Extension Schema Document

Exhibit 101.CAL—XBRL Taxonomy Extension Calculation Linkbase Document

Exhibit 101.DEF—XBRL Taxonomy Extension Definition Linkbase Document

Exhibit 101.LAB—XBRL Taxonomy Extension Labels Linkbase Document

Exhibit 101.PRE—XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WEIBO CORPORATION
Date: October 24, 2017	By:	/s/ FEI CAO Fei Cao Vice President, Finance

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EXHIBIT INDEX
SIGNATURES

EX-99.1

Exhibit 99.1

INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	Page
Unaudited Interim Condensed Consolidated Balance Sheets as of December 31, 2016 and June 30, 2017		F-2
Unaudited Interim Condensed Consolidated Statements of Comprehensive Income for the Six Months ended June 30, 2016 and 2017		F-3
Unaudited Interim Condensed Consolidated Statements of Shareholders' Equity for the Six Months ended June 30, 2016 and 2017		F-4
Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Six Months ended June 30, 2016 and 2017		F-5
Notes to Unaudited Interim Condensed Consolidated Financial Statements		F-6

F-1

WEIBO CORPORATION

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for par value)

	As of
	December 31, 2016			June 30, 2017
ASSETS
Current assets:
Cash and cash equivalents	$	364,766		$	224,080
Short-term investments		31,188			385,105
Accounts receivable due from third parties, net of allowances for doubtful accounts of $5,046 and $6,910 as of December 31, 2016 and June 30, 2017, respectively.		61,655			80,929
Accounts receivable due from Alibaba, net of allowances for doubtful accounts of nil and nil as of December 31, 2016 and June 30, 2017, respectively. (Note 9)		24,293			19,187
Accounts receivable due from other related parties, net of allowances for doubtful accounts of $1,483 and $1,519 as of December 31, 2016 and June 30, 2017, respectively. (Note 9)		30,106			34,557
Prepaid expenses and other current assets		66,664			70,485
Matching loan to SINA (Note 9)		—			61,360
Amount due from SINA		18,565			—
Total current assets		597,237			875,703
Property and equipment, net		22,816			25,924
Intangible assets, net		1,100			811
Goodwill		10,266			10,662
Long-term investments		399,933			419,711
Other assets		5,592			10,553
Total assets	$	1,036,944		$	1,343,364
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities (including amounts of the consolidated VIE without recourse to the primary beneficiaries of $137,256 and $160,778 as of December 31, 2016 and June 30, 2017, respectively.)
Accounts payable	$	48,997		$	86,565
Accrued and other liabilities		180,142			220,980
Matching loan from SINA (Note 9)		—			60,831
Deferred revenues		48,964			58,971
Amount due to SINA		—			2,885
Total current liabilities		278,103			430,232
Long-term liabilities
Long-term deferred revenues		666			476
Other long-term liabilities		817			758
Total long-term liabilities		1,483			1,234
Total liabilities	$	279,586		$	431,466
Commitments and contingencies (Note 13)
Shareholders' equity:
Ordinary shares: $0.00025 par value; 2,400,000 and 2,400,000 shares (including 1,800,000 Class A ordinary shares, 200,000 Class B ordinary shares and 400,000 shares to be designated) authorized; 218,076 and 221,217 shares (including 112,296 Class A ordinary shares and 108,921 Class B ordinary shares) issued and outstanding as of December 31, 2016 and June 30, 2017, respectively.	$	55		$	56
Additional paid-in capital		979,805			1,003,823
Accumulated other comprehensive loss		(26,994	)		(16,310	)
Accumulated deficit		(199,641	)		(79,162	)
Total Weibo shareholders' equity		753,225			908,407
Non-controlling interests		4,133			3,491
Total shareholders' equity		757,358			911,898
Total liabilities and shareholders' equity	$	1,036,944		$	1,343,364

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-2

WEIBO CORPORATION

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands, except per share data)

	Six Months Ended June 30,
	2016			2017
Revenues:
Advertising and marketing revenues
Third parties	$	170,743		$	310,453
Alibaba (Note 9)		23,969			20,987
SINA and other related parties (Note 9)		31,707			56,197
		226,419			387,637
Other revenues		39,756			64,937
Total revenues		266,175			452,574
Costs and Expenses
Cost of revenues		77,283			96,822
Sales and marketing		62,207			106,526
Product development		74,545			84,719
General and administrative		17,738			20,686
Total costs and expenses		231,773			308,753
Income from operations		34,402			143,821
Gain (loss) from equity method investments		(61	)		210
Realized gain from investments		534			14
Investment related impairment		(4,842	)		(1,384	)
Interest and other income, net		3,892			4,780
Income before income tax expenses		33,925			147,441
Provision of income taxes		2,344			27,679
Net income	$	31,581		$	119,762
Less: Net loss attributable to non-controlling interests		(1,374	)		(717	)
Net income attributable to Weibo		32,955			120,479
Net income	$	31,581		$	119,762
Other comprehensive income (loss)
Currency translation adjustments (net of tax of nil and nil for the six months ended June 30, 2016 and 2017, respectively)		(5,337	)		11,660
Available-for-Sale securities
Change in unrealized loss from available-for-sale securities (net of tax of nil and nil for the six months ended June 30, 2016 and 2017, respectively)		(1,659	)		(901	)
Total comprehensive income	$	24,585		$	130,521
Less: Comprehensive loss attributable to non-controlling interests		(1,502	)		(642	)
Comprehensive income attributable to Weibo		26,087			131,163
Shares used in computing net income per share attributable to Weibo:
Basic		212,903			219,281
Diluted		220,780			224,955
Income per share:
Basic	$	0.15		$	0.55
Diluted	$	0.15		$	0.54

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-3

WEIBO CORPORATION

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

(In thousands)

	Ordinary Shares						Accumulated Other Comprehensive Loss
					Additional Paid-In Capital					Accumulated Deficit			Non- controlling Interests			Total Shareholders' Equity
	Shares		Amount
Balance at December 31, 2015		212,177	$	53	$	938,922	$	(10,635	)	$	(307,668	)	$	7,357		$	628,029
Issuance of ordinary shares pursuant to stock plan		2,625		1		2,034		—			—			—			2,035
Non-cash stock-based compensation		—		—		15,795		—			—			—			15,795
Net income (loss)		—		—		—		—			32,955			(1,374	)		31,581
Currency translation adjustments		—		—		—		(5,209	)		—			(128	)		(5,337	)
Net change in other comprehensive loss from available-for-sale securities		—		—		—		(1,659	)		—			—			(1,659	)
Balance at June 30, 2016		214,802	$	54	$	956,751	$	(17,503	)	$	(274,713	)	$	5,855		$	670,444
Balance at December 31, 2016		218,076	$	55	$	979,805	$	(26,994	)	$	(199,641	)	$	4,133		$	757,358
Issuance of ordinary shares pursuant to stock plan		3,141		1		1,392		—			—			—			1,393
Non-cash stock-based compensation		—		—		22,626		—			—			—			22,626
Net income (loss)		—		—		—		—			120,479			(717	)		119,762
Currency translation adjustments		—		—		—		11,585			—			75			11,660
Net change in other comprehensive loss from available-for-sale securities		—		—		—		(901	)		—			—			(901	)
Balance at June 30, 2017		221,217	$	56	$	1,003,823	$	(16,310	)	$	(79,162	)	$	3,491		$	911,898

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-4

WEIBO CORPORATION

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Six Months Ended June 30,
	2016			2017
Cash flows from operating activities:
Net income	$	31,581		$	119,762
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		7,018			6,922
Stock-based compensation		15,795			22,626
Provision for allowance for doubtful accounts		1,252			4,086
Deferred income tax benefits		(129	)		(59	)
(Gain) Loss from equity method investments		61			(210	)
Gain on sale of investments		(328	)		(14	)
Investment related impairment		4,842			1,384
Changes in assets and liabilities:
Accounts receivable due from third parties		(24,809	)		(23,360	)
Accounts receivable due from Alibaba		31,687			5,106
Accounts receivable due from other related parties		(2,485	)		(4,451	)
Prepaid expenses and other current assets		(11,757	)		(8,992	)
Other assets		282			(228	)
Accounts payable		(8,187	)		36,157
Accrued and other liabilities		17,388			41,670
Amount due to SINA		5,429			19,450
Deferred revenues		(3,539	)		9,817
Net cash provided by operating activities		64,101			229,666
Cash flows from investing activities:
Purchases of short-term investments		(169,625	)		(347,676	)
Maturities of short-term investments		1,224			1,223
Investment and prepayment in long-term investments		(7,425	)		(29,338	)
Proceeds from disposal/refund of long-term investments		10,884			14
Purchases of property and equipment		(5,527	)		(6,933	)
Loan to SINA		—			(59,534	)
Net cash used in investing activities		(170,469	)		(442,244	)
Cash flows from financing activities:
Proceeds from employee options exercised		2,092			1,449
Loan from SINA		—			62,000
Net cash provided by financing activities		2,092			63,449
Effect of exchange rate changes on cash and cash equivalents		(3,222	)		8,443
Net decrease in cash and cash equivalents		(107,498	)		(140,686	)
Cash and cash equivalents at the beginning of the period		237,440			364,766
Cash and cash equivalents at the end of the period	$	129,942		$	224,080
Supplemental disclosure of cash flow information
Cash paid for income tax	$	(3,383	)	$	(7,988	)
Supplemental schedule of non-cash investing and financing activities
Property and equipment in accounts payable	$	724		$	3,569

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-5

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS

1. Operations

        Weibo Corporation ("Weibo" or the "Company") is a leading social media for people to create, share and discover Chinese-language content. It provides an unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world. As a microcosm of the Chinese society and a cultural phenomenon in China, Weibo allows people to be heard publicly and exposed to the rich ideas, cultures and experiences of the broader world. Media outlets use Weibo as a source of news and a distribution channel for their headline news. Government agencies and officials use Weibo as an official communication channel for disseminating information timely and gauging public opinion to improve public services. Charities use Weibo to make the world a better place by launching charitable projects, seeking donations and volunteers and leveraging celebrities and organizations on Weibo to amplify their impact to society. Weibo generates its revenues mostly from advertising and marketing services, as well as from other services, including game-related services, VIP membership and data licensing.

        Incorporated in the Cayman Islands, Weibo Corporation is a controlled subsidiary of Sina Corporation (the "Parent" or "SINA"). In April 2014, the Company completed an initial public offering (the "IPO") with the new issuance of 19,320,000 Class A ordinary shares and received $306.5 million in net proceeds. Immediately prior to the completion of the IPO, all the ordinary shares held by SINA was converted into an equal number of the Class B ordinary shares, all the ordinary shares held by other shareholders was converted into an equal number of the Class A ordinary shares, and all of its outstanding preferred shares were automatically converted into 30,046,154 Class A ordinary shares. The call option held by a subsidiary of Alibaba Group was exercised to purchase 29,990,778 Class A ordinary shares from SINA and the Company. Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to three votes per share. Each Class B ordinary share can be converted into one Class A ordinary share at any time, while Class A ordinary shares cannot be converted into Class B ordinary shares.

Consolidation

        The unaudited interim condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and its variable interest entities ("VIE"), of which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated. Weibo Corporation, its subsidiaries, VIE and VIE's subsidiaries together are referred to as "the Group."

F-6

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

1. Operations (Continued)

        The following sets forth the Company's major subsidiaries, VIE and VIE's subsidiary:

Company	Date of Incorporation	Place of Incorporation	Percentage of Direct/ Indirect Economic Interest
Major Subsidiaries*
Weibo Hong Kong Limited ("Weibo HK")	July 19, 2010	Hong Kong		100	%
Weibo Internet Technology (China) Co., Ltd. ("Weibo Technology" or "the WFOE")	October 11, 2010	PRC		100	%
Major VIE and VIE's subsidiary
Beijing Weimeng Technology Co., Ltd ("Weimeng")	August 9, 2010	PRC		100	%
Beijing Weibo Interactive Internet Technology Co., Ltd. ("Weibo Interactive")	Acquired in May 2013	PRC		100	%

*

Weibo HK is a wholly owned subsidiary of Weibo Corporation, and Weibo Technology is a wholly owned subsidiary of Weibo HK.

        To comply with PRC laws and regulations, the Group provides a substantial amount of its services in China via the VIE, which holds critical operating licenses that enable the Group to do business in China. Most of the Group's revenues, costs and net income in China were generated directly or indirectly through the VIE. The Company, through its subsidiary, has signed various agreements with the VIE to allow the transfer of economic benefits from the VIE to the Company. The Group has determined that it is the primary beneficiary of the VIE through Weibo Technology's contractual arrangements with the VIE. Accordingly, the Company has consolidated the VIE's results of operations and assets and liabilities in the Group's unaudited interim condensed consolidated financial statements pursuant to the United States Generally Accepted Accounting Principles ("US GAAP") for all the periods presented.

        Shareholders of the VIE are certain nominee shareholders of the Company or SINA. The capital for their investments in the VIE is funded by the Company and recorded as interest-free loans to these individuals. These loans were eliminated with the capital of the VIE during consolidation. Each shareholder of the VIE has agreed to transfer his equity interest in the VIE to Weibo Technology when permitted by PRC laws and regulations or to designees of the Company at any time for the amount of loans outstanding. All voting rights of the VIE, including without limitation the right to appoint all directors of the VIE, have been assigned to Weibo Technology. Weibo Technology has also entered into exclusive technical service agreements with the VIE under which Weibo Technology provides technical and other services to the VIE in exchange for substantially all net income of the VIE. In addition, the shareholders of the VIE have pledged their shares in the VIE as collateral for the non-payment of loans or for the technical and other services fees due to Weibo Technology.

F-7

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

1. Operations (Continued)

        The following table sets forth the assets, liabilities, results of operations and cash flows of the VIE and VIE's subsidiaries taken as a whole, which are included in the Group's unaudited interim condensed consolidated balance sheets and statements of comprehensive income:

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Total assets	$	276,330	$	331,368
Total liabilities	$	308,990	$	360,379

	Six Months ended June 30,
	2016			2017
	(In thousands)
Net revenues	$	207,859		$	353,776
Net income (loss)	$	(11,356	)	$	4,528

	Six Months ended June 30,
	2016			2017
	(In thousands)
Net decrease in cash and cash equivalents	$	(77,377	)	$	(22,417	)

        Under the contractual arrangements with the VIE, the Company has the power to direct activities of the VIE through Weibo Technology and can have assets transferred freely out of the VIE without restrictions. Therefore, the Company considers that there is no asset of the VIE that can only be used to settle obligations of the VIE and VIE's subsidiaries, except for the registered capital and non-distributable reserve funds of the VIE and VIE's subsidiaries, amounting to $56.2 million and $56.2 million as of December 31, 2016 and June 30, 2017, respectively. Since the VIE is incorporated as limited liability company under the PRC Company Law, creditors of the VIE do not have recourse to the general credit of the Company. There is currently no contractual arrangement that would require the Company to provide additional financial support to the VIE. As the Company is conducting certain businesses mainly through the VIE, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss.

        Unrecognized revenue-producing assets held by the VIE include the Internet Content Provision License, the Online Culture Operating Permit, and the domain names of Weibo.com, Weibo.cn and Weibo.com.cn. Recognized revenue-producing assets held by the VIE include customer lists relating to game-related services, game platform technology and a non-compete agreement, which were acquired mostly through acquisitions. Unrecognized revenue-producing assets, including customer lists relating to advertising and marketing services, game-related services, VIP membership and data licensing, as well as trademarks, are also held by Weibo Technology.

F-8

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

1. Operations (Continued)

        The following is a summary of the VIE agreements:

        Loan Agreements.    The Company's wholly owned subsidiary Weibo Technology has granted interest-free loans to each shareholder of the VIE with the sole purpose of providing funds necessary for capital injection into the VIE. The terms of the loans are for ten years, and Weibo Technology has the right to, at its own discretion, shorten or extend the terms of the loans, if necessary. These loans were eliminated with the capital of the VIE during consolidation.

        Share Transfer Agreements.    Each shareholder of the VIE has granted Weibo Technology an option to purchase his shares in the VIE at a purchase price equal to the amount of the capital injection. Weibo Technology may exercise such option at any time until it has acquired all of the shares of the VIE, subject to applicable PRC laws. The option will be effective until the earlier of (i) the shareholders of the VIE and Weibo Technology have fully performed their obligations under this agreement, and (ii) the respective shareholders of the VIE and Weibo Technology agree to terminate the share transfer agreement in writing.

        Loan Repayment Agreements.    Each shareholder of the VIE has agreed with Weibo Technology that the interest-free loans under the loan agreements shall only be repaid through share transfer. Once the share transfers are completed, the purchase price for the share transfer will be set off against the loan repayment.

        Agreements on Authorization to Exercise Shareholder's Voting Power.    Each shareholder of the VIE has authorized Weibo Technology to exercise all his voting power as a shareholder of the VIE on all matters requiring shareholders' approval under PRC laws and regulations and the articles of association of the VIE, including without limitation to the appointment of directors, transfer, mortgage or dispose of the VIE's assets, transfer of any equity interest in the VIE, and merger, split, dissolution and liquidation of the VIE. The authorizations are irrevocable and will not expire until the VIE dissolves.

        Share Pledge Agreements.    Each shareholder of the VIE has pledged all of his shares in the VIE and all other rights relevant to the share rights to Weibo Technology, as a collateral security for his obligations to pay off all debts to Weibo Technology, under the loan agreement and for the payment obligations of the VIE under the trademark license agreement and the technical services agreement. In the event of default of any payment obligations, Weibo Technology will be entitled to certain rights, including transferring the pledged shares to itself and disposing the pledged shares through sale or auction. During the term of each agreement, Weibo Technology is entitled to receive all dividends and distributions paid on the pledged shares. The pledges will be effective until the earlier of (i) the VIE and the shareholders of the VIE have fully performed their obligations under the above-referred agreements, and (ii) Weibo Technology unilaterally consents to terminate the respective share pledge agreement.

        Exclusive Technical Services Agreement, Exclusive Sales Agency Agreement and Trademark License Agreement.    The VIE has entered into an exclusive technical services agreement, an exclusive sales agency agreement and a trademark license agreement with Weibo Technology. Under the exclusive technical services agreement, Weibo Technology is engaged to provide technical services for the VIE's online advertising and other related businesses. Under the exclusive sales agency agreement, the VIE has granted Weibo Technology the exclusive right to distribute, sell and provide agency services for all

F-9

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

1. Operations (Continued)

the products and services provided by the VIE. The term of the technical service agreement and the sales agency agreement will not expire until the VIE dissolves.

        Due to its control over the VIE, Weibo Technology has the right to determine the service fee to be charged to the VIE under these agreements. By considering, among other things, the technical complexity of the service, the actual cost that may be incurred for providing such service, the operations of the VIE, applicable tax rates, planned capital expenditure and business strategies.

        Under the trademark license agreement, Weibo Technology has granted the VIE trademark licenses to use its trademarks for specific areas, and the VIE is obligated to pay license fees to Weibo Technology. The term of the agreement is for one year and is automatically renewed provided that there is no objection from Weibo Technology.

        The Company believes that the contractual arrangements among its subsidiary, VIE and VIE's shareholders are in compliance with the current PRC laws and legally enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company's ability to enforce these contractual arrangements. As a result, the Company may be unable to consolidate the VIE and VIE's subsidiaries in the unaudited interim condensed consolidated financial statements. The Company's ability to control the VIE also depends on the authorization by the shareholders of the VIE to exercise voting rights on all matters requiring shareholder approval in the VIE. The Company believes that the agreements on authorization to exercise shareholder's voting power are legally enforceable. In addition, if the legal structure and contractual arrangements with the VIE were found to be in violation of any future PRC laws and regulations, the Company may be subject to fines or other actions. The Company believes the possibility that it will no longer be able to control and consolidate the VIE will occur as a result of the aforementioned risks and uncertainties are remote.

2. Significant Accounting Policies

Basis of presentation

        In the opinion of the Company, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2017, its results of operations and cash flows for the six months ended June 30, 2016 and 2017. The consolidated balance sheet at December 31, 2016, was derived from audited annual financial statements included in the Company's Annual Report on Form 20-F filed on April 27, 2017, but does not contain all of the footnote disclosures from the annual financial statements.

        The preparation of the Group's unaudited interim condensed consolidated financial statements is in conformity with US GAAP. The unaudited interim condensed consolidated financial statements include the accounts of Weibo, its wholly owned subsidiaries, VIE, and VIE's subsidiaries. All significant intercompany balances and transactions have been eliminated.

Use of estimates

        Conformity with US GAAP requires the use of estimates and judgments that affect the reported amounts in the unaudited interim condensed consolidated financial statements and accompanying notes.

F-10

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

These estimates form the basis for judgments the management makes about the carrying values of the assets and liabilities, which are not readily apparent from other sources. GAAP requires making estimates and judgments in several areas, including, but not limited to, the basis of consolidation, revenue recognition, fair value accounting, income taxes, goodwill and other long-lived assets, allowances for doubtful accounts, stock-based compensation, and the estimated useful lives of assets. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates.

Revenue recognition

Advertising and marketing revenues

        Advertising and marketing revenues are derived principally from online advertising, including social display ads and promoted marketing. Social display ad arrangements allow customers to place advertisements on particular areas of the Group's platform in particular formats and over particular periods of time, which is typically no more than three months. The Group enters into cost per mille ("CPM"), or cost per thousand impressions, advertising arrangements with the customers, under which the Group recognizes revenues based on the number of times that the advertisement has been displayed. The Group also enters into cost per day ("CPD") advertising arrangements with customers, under which the Group recognizes revenues ratably over the contract periods.

        Revenues are recognized only when the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) the price is fixed or determinable; (3) the service is performed; and (4) collectability of the related fee is reasonably assured. The majority of the Group's revenue transactions are based on standard business terms and conditions, which are recognized net of agency rebates. Advertising arrangements involving multiple deliverables are broken down into single-element arrangements based on their relative selling price for revenue recognition purposes. For multiple-deliverable revenue arrangements, it is required that the arrangement consideration to be allocated to all deliverables at the inception of the arrangement on the following basis: (a) vendor-specific objective evidence (VSOE) of selling price, if it exists, otherwise, (b) third-party evidence (TPE) of the selling price. If neither (a) nor (b) exists, then use (c) management's best estimate of the selling price of the deliverable. The Group primarily uses VSOE to allocate the arrangement consideration if such selling price is available. For the deliverables that have not been sold separately, the best estimate of the selling price (BESP) is used, which has taken into consideration of the pricing of advertising areas of the Group's platform with similar popularity and advertisements with similar format and quoted prices from competitors and other market conditions. Revenues recognized with reference to BESP were immaterial for all periods presented. The Group recognizes revenues on the elements delivered and defers the recognition of revenues for the undelivered elements until the remaining obligations have been satisfied.

        Revenues from barter transactions are recognized during the period in which the advertisements are displayed on the Group's properties. Barter transactions in which physical goods or services are received in exchange for advertising services are recorded based on the fair values of the goods or services received. Revenues from barter transactions were immaterial for all periods presented.

F-11

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

Other revenues

        The Group generates other revenues principally from fee-based services, including game-related services, VIP membership and data licensing. Revenues from these services are recognized over the periods in which the services are performed, provided that no significant obligations remain, collection of the receivable is reasonably assured and the amounts can be accurately estimated.

        Game-related services.    Game-related service revenues are mostly generated from the sale of virtual items from games operated by the Group. The Group collects payments from the game players in connection with the sale of virtual currency, which are converted into in-game credits (game tokens) that can be used to purchase virtual items in the third-party developed games. The Group remits certain predetermined percentages of the proceeds to the game developers when the virtual currency is converted into in-game credits.

        The Group has determined that the game developers are the primary obligors for the game-related service given that the game developers are responsible for developing, maintaining and updating the game related services and have reasonable latitude to establish the prices of virtual items for which in-game credits are used. The Group views the game developers to be its customers, and the Group's primary responsibility is to promote the games of the developers, provide virtual currency exchange service, maintain the platform for game players to easily access the games and offer customer support to resolve registration, log-in, currency exchange and other related issues. Accordingly, the Group records game-related revenue, net of predetermined revenue sharing with the game developers.

        Virtual currencies in general are not refundable once they have been sold unless there are unused in-game credits at the time a game is discontinued. Sale of virtual currencies net of the game developer proceeds are recognized as revenues over the estimated consumption period of in-game virtual items, which is typically from a few days to one month after the purchase of in-game credits.

        VIP membership.    VIP membership is a service package consisting of user certification and preferential benefits, such as daily priority listings and higher quota for following user accounts. Prepaid VIP membership fees are recorded as deferred revenue and recognized as revenue ratably over the contract period of the membership service.

        Data licensing.    The Group began to offer data licensing arrangements that allow its customers to access, search and analyze historical and real-time data on its platform. The data licensing arrangement is for a fixed period, typically one year, and such revenue is recognized ratably over the contract period.

Cost of revenues

        Cost of revenues consists mainly of costs associated with the maintenance of platform, which primarily include bandwidth and other infrastructure costs, labor cost and turnover taxes levied on the revenues, part of which were allocated from SINA. The Group presents taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction on a gross basis in the financial statements. The Group is subject to 6.7% Value-Added Tax ("VAT") and surcharges for its revenues and an additional 3% cultural business construction fees for its advertising and marketing revenues.

F-12

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

Sales and Marketing Expenses

        Sales and marketing expenses consist mainly of online and offline advertising and promotional expenses, salary, benefits and commission expenses, and facility expenses. Advertising and promotional expenses generally represent the expenses of promotions of corporate image and product marketing. The Group expenses all advertising and promotional expenses as incurred and classifies these expenses under sales and marketing expenses.

Product development expenses

        Product development expenses consist mainly of payroll-related expenses and infrastructure costs incurred for enhancement to and maintenance of the Group's platform, as well as costs associated with new product development and product enhancements, part of which were allocated from SINA. The Group expenses all costs incurred for the planning and post implementation phases of development and costs associated with repair or maintenance of the existing site or the development of platform content. Since inception, the amount of costs qualifying for capitalization has been immaterial and, as a result, all product development costs have been expensed as incurred.

Stock-based compensation

        All stock-based awards to employees and directors, such as stock options and restricted share units ("RSUs"), are measured at the grant date based on the fair value of the awards. Stock-based compensation, net of forfeitures, is recognized as expenses on a straight-line basis over the requisite service period, which is the vesting period.

        The Group uses the Black-Scholes option pricing model to estimate the fair value of stock options. The determination of estimated fair value of stock-based payment awards on the grant date using an option pricing model is affected by the fair value of the Company's ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and expected dividends, if any. Options granted generally vest over four years.

        The Group recognizes the estimated compensation cost of restricted share units based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term of generally four years for service-based restricted share units. The Group also recognizes the compensation cost of performance-based restricted share units, net of estimated forfeitures, according to the probability of performance goal achievement at the end of each reporting period.

        Forfeitures are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. The Group uses historical data to estimate pre-vesting option and records stock-based compensation expense only for those awards that are expected to vest. See Note 6 Stock-based Compensation for further discussion on stock-based compensation.

F-13

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

Taxation

Income taxes

        Income taxes are accounted for using the asset and liability approach. Under this approach, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry forwards. The Group records a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not.

Uncertain tax positions

        To assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement.

Operating leases

        The Group leases office space under operating lease agreements with initial lease terms ranging from one to five and a half years. Rental expense is recognized from the date of initial possession of the leased property on a straight-line basis over the term of the lease, part of which was allocated from SINA. Certain lease agreements contain rent holidays, which are recognized on a straight-line basis over the lease term. Lease renewal periods are considered on a lease-by-lease basis and are generally not included in the initial lease terms.

Cash equivalents

        The Group considers all highly liquid investments with original maturities of three months or less as cash equivalents. Cash equivalents are comprised of investments in time deposits stated at cost plus accrued interest.

Accounts receivable and allowances for doubtful accounts

        Accounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Group maintains an allowance for doubtful accounts which reflects its best estimate of amounts that will not be collected. The Group determines the allowance for doubtful accounts based on a historical, rolling average, bad debt rate in the prior period and other factors, such as credit-worthiness of the customers and the age of the receivable balances. The Group also provides specific provisions for bad debts when facts and circumstances indicate that the receivable is unlikely to be collected. If the financial condition of the Group's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional bad debt allowances may be required.

F-14

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

Fair value measurements

Financial instruments

        All financial assets and liabilities are recognized or disclosed at fair value in the unaudited interim condensed consolidated financial statements on a recurring basis. Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

        Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

•

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

•

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

•

Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

        The carrying amount of cash and cash equivalents, short-term investments, accounts receivable due from third parties, accounts receivable due from Alibaba, accounts receivable due from other related parties, matching loan to/from SINA, amount due from/to SINA, accounts payable, accrued and other liabilities approximates fair value because of their short-term nature. See Note 12 Financial Instruments for additional information.

Long-term investments

        Long-term investments are comprised of investments in publicly traded and privately held companies. For long-term investments over which the Group does not have significant influence, the cost method of accounting is used. For long-term investments in shares that are not common stock or in-substance common stock and that do not have readily determinable fair value, the cost method accounting is used. The Group uses the equity method to account for ordinary-share-equivalent equity investments over which it has significant influence but does not own a majority equity interest or otherwise control.

        The Group monitors its investments accounted for under the cost method and equity method for other-than-temporary impairment by considering factors such as current economic and market

F-15

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

conditions and the operating performance of the business, including current earnings trends, undiscounted cash flows, and other company-specific information, such as recent financing rounds. Determination of the fair value, particularly for investments in privately-held companies whose revenue model is unclear, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and the determination of whether any identified impairment is other-than-temporary. If any impairment is considered other-than-temporary, the Group will write down the asset to its fair value and take the corresponding charge to the unaudited interim condensed consolidated statements of comprehensive income.

        The Group invests in marketable equity securities to meet business objectives and intends to hold the securities for more than a year from the balance sheet date. These marketable securities are reported at fair value, classified and accounted for as available-for-sale ("AFS") securities under long-term investments. The treatment of a decline in the fair value of an individual security is based on whether the decline is other-than-temporary. The Group assesses its available-for-sale securities for other-than-temporary impairment by considering factors including, but not limited to, its ability and intent to hold the individual security, severity of the impairment, expected duration of the impairment and forecasted recovery of fair value. Investments classified as available-for-sale securities are reported at fair value with unrealized gains or losses, if any, recorded in accumulated other comprehensive loss in shareholders' equity. If the Group determines a decline in fair value is other-than-temporary, the cost basis of the individual security is written down to fair value as a new cost basis and the amount of unrealized loss recorded in accumulated other comprehensive loss will be reclassified to net income in the unaudited interim condensed consolidated statements of comprehensive income. The fair value of the investment would then become the new cost basis of the investment and is not adjusted for subsequent recoveries in fair value.

Long-lived assets

Property and equipment

        Property and equipment are stated at cost less accumulated depreciation, amortization and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally from three to four years for computers and equipment and five years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining lease term.

Goodwill

        Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Group's acquisitions of interests in its subsidiaries and consolidated VIE. The Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20 ("ASC 350-20"), Intangibles—Goodwill and Other: Goodwill, which requires that goodwill be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. US GAAP provides the option to apply the qualitative assessment first and then the quantitative assessment, if necessary, or to apply the quantitative assessment directly. The qualitative approach starts the goodwill impairment test by

F-16

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

assessing qualitative factors, which by taking into consideration of macroeconomics, overall financial performance, industry and market conditions and the share price of the Group, to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If so, the quantitative impairment test is performed; otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of goodwill with its carrying value. For reporting units directly applying a quantitative assessment, the goodwill impairment test is quantitatively performed by comparing the fair values of those reporting units to their carrying amounts. The Group adopted the option to apply the qualitative approach to assess its goodwill on the relevant reporting units. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value of each reporting unit. Judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit.

Intangible assets other than goodwill

        Intangible assets arising from acquisitions are recognized at fair value upon acquisition and amortized on a straight-line basis over their estimated useful lives, generally from two to five years. Long-lived assets and certain identifiable intangible assets other than goodwill to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for long-lived assets and certain identifiable intangible assets that management expects to hold or use is based on the amount by which the carrying value exceeds the fair value of the asset. Judgment is used in estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the asset's fair value.

Deferred revenues

        Deferred revenues consist of contractual billings in excess of recognized revenue and payments received in advance of revenue recognition, which are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership.

Non-controlling interests

        For the Company's majority-owned subsidiaries and VIE, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. To reflect the economic interest held by non-controlling shareholders, net loss attributable to the non-controlling ordinary shareholders is recorded as non-controlling interests in the Company's unaudited interim condensed consolidated statements of comprehensive income. Non-controlling interests are classified as a separate line item in the equity section of the Company's unaudited interim condensed consolidated balance sheets and have been separately disclosed in the Company's unaudited interim condensed consolidated financial statements to distinguish the interests from that of the Company.

F-17

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

Foreign currency

        The Company's reporting currency and functional currency are the U.S. dollar. The Group's operations in China and in international regions use their respective currencies as their functional currencies. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average rates of exchange in the period for revenues, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income or loss as a component of shareholders' equity. Translation gains or losses are not released to net income unless the associated net investment has been sold, liquidated, or substantially liquidated.

        Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rate prevailing on the transactions dates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in interest and other income, net.

        Net foreign currency transaction gains or losses arise from transacting in a currency other than the functional currency of the entity and the amounts recorded were immaterial for each of the periods presented.

Net Income per share

        Basic net income per share is computed using the weighted average number of ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in computation of basic earnings per share. Diluted net income per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under treasury stock method. Potential ordinary shares include options to purchase ordinary shares and RSUs, unless they were anti-dilutive. The computation of diluted net income per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income per share. The Group uses the two-class method to calculate net income per share as both classes share the same rights in dividends. Therefore, basic and diluted earnings per share are the same for both classes of ordinary shares.

Segment reporting

        In accordance with ASC 280, Segment Reporting, the Group's chief operating decision maker ("CODM"), the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole. The Group currently operates and manages its business in two principal business segments globally—advertising and marketing services and other services. Information regarding the business segments provided to the Group's CODM is at the revenue level and the Group currently does not allocate operating costs or assets to its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments. As the Group's long-lived assets are substantially all located in the PRC and substantially the Group's revenues are derived from within the PRC, no geographical information is presented.

F-18

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

Concentration of risks

        Concentration of credit risk.    Financial instruments that potentially subject the Group to a concentration of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable. In addition, with the majority of its operations in China, the Group is subject to RMB currency risk and offshore remittance risk, both of which have been difficult to hedge and the Group has not done so. The Group limits its exposure to credit loss by depositing its cash and cash equivalents with financial institutions in the US, PRC and Hong Kong, which are among the largest and most respected with high ratings from internationally-recognized rating agencies, that management believes are of high credit quality. The Group periodically reviews these institutions' reputations, track records and reported reserves.

        As of December 31, 2016 and June 30, 2017, the Group had $393.6 million and $606.0 million, respectively, in cash and bank time deposits (with terms generally up to twelve months) with large domestic banks in China. China promulgated a Bankruptcy Law that came into effect on June 1, 2007, which contains a separate article expressly stating that the State Council may promulgate implementation measures for the bankruptcy of Chinese banks based on the Bankruptcy Law. Under the Bankruptcy Law, a Chinese bank may go bankrupt. In addition, since China's concession to WTO, foreign banks have been gradually permitted to operate in China and have become significant competitors to Chinese banks in many aspects, especially since the opening of RMB business to foreign banks in late 2006. Therefore, the risk of bankruptcy on Chinese banks in which the Group holds cash and bank deposits has increased. In the event that a Chinese bank that holds the Group's deposits goes bankrupt, the Group is unlikely to claim its deposits back in full, since it is unlikely to be classified as a secured creditor to the bank under the PRC laws.

        Alibaba accounted for 9% and 5% of the Group's total revenues for the six months ended June 30, 2016 and 2017, respectively. No customer nor advertising agency accounted for 10% or more of the Group's revenues. The Group's top 10 advertising agencies contributed to 22% and 24% of the Group's total revenues for the six months ended June 30, 2016 and 2017, respectively.

        As of December 31, 2016 and June 30, 2017, substantially all accounts receivable were derived from the Group's China operations. Excluding accounts receivable due from Alibaba and other related parties, accounts receivable primarily consists of amounts due from advertising agencies and direct customers. Alibaba accounted for 21% and 14%, respectively, of the Group's net accounts receivables as of December 31, 2016 and June 30, 2017, while one customer accounted for 15% and 13%, respectively, at the same dates.

        Concentration of foreign currency risks.    The majority of the Group's operations were in RMB. As of December 31, 2016 and June 30, 2017, the Group's cash, cash equivalents and short-term investments balance denominated in RMB was $335.7 million and $478.5 million, accounting for 85% and 79% of the Group's total cash, cash equivalents and short-term investments balance. As of December 31, 2016 and June 30, 2017, the Group's aggregate net accounts receivable balance (including accounts receivable due from third parties, Alibaba and other related parties) denominated in RMB was $115.3 million and $133.9 million, respectively, accounting for almost all of its net accounts receivable balance. As of December 31, 2016 and June 30, 2017, the Group's current liabilities balance denominated in RMB was $267.8 million and $355.9 million, accounting for 96% and 83% of

F-19

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

its total current liabilities balance. Accordingly, the Group may experience economic losses and negative impacts on earnings and equity as a result of exchange rate fluctuations of the RMB. Moreover, the Chinese government imposes controls on the convertibility of the RMB into foreign currencies and, in certain cases, the remittance of currency out of the PRC. The Group may experience difficulties in completing the administrative procedures necessary to remit its RMB out of the PRC and convert it into foreign currency.

Recent accounting pronouncements

        In May 2014, the Financial Accounting Standards Board ("FASB") issued, ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)." The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles. In April 2015, the FASB proposed a one-year delay in the effective date and companies will be allowed to early adopt as of the original effective date. The Group plans to adopt the new revenue guidance beginning in the first quarter of fiscal year 2018. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Group currently anticipates adopting the standard using the modified retrospective method and the Group is still in the process of completing the analysis on the impact this guidance will have on its consolidated financial statements and related disclosures.

        In January 2016, the FASB issued updated guidance on financial instruments, ASU No. 2016-01, which intends to improve the recognition and measurement of financial instruments. Most prominent among the changes in the standard is the requirement for changes in the fair value of equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income. The Group plans to adopt the new guidance beginning in the first quarter of fiscal year 2018. Adoption of the standard will be applied through a cumulative-effect adjustment to retained earnings as of the effective date. The Group is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

        In February 2016, the FASB issued a new standard on leases, ASU No. 2016-02, which requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize a liability to make lease payments (the lease liability) and a right-of use representing its right to use the underlying asset for the lease term in the statements of financial position. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. This standard will be effective for the Group beginning the first quarter of fiscal year 2019. The Group is currently evaluating the impact that this new standard will have on its consolidated financial statements.

        In August 2016, the FASB issued ASU No. 2016-15, which clarifies and includes specific guidance to address diversity in how certain cash receipts and cash payments are presented and classified in the

F-20

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2. Significant Accounting Policies (Continued)

statement of cash flows. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption of the amendments is permitted. The amendments in this ASU should be applied using a retrospective transition method to each period presented. The Group will adopt the amendments in the fiscal year of 2018 and does not expect a significant impact on its consolidated financial statements from the new standard.

        In January 2017, the FASB issued ASU No. 2017-01, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted. The amendments should be applied prospectively on or after the effective date. No disclosures are required at transition. The Group will adopt the amendments in the fiscal year of 2018 and does not expect a significant impact on its consolidated financial statements from the new standard.

        In January 2017, the FASB issued ASU No. 2017-04, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value, which eliminates the current requirement to calculate a goodwill impairment charge by comparing the implied fair value of goodwill with its carrying amount. The amendments will be effective beginning the first quarter of fiscal year 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied on a prospective basis. The Group is currently evaluating the impact this new standard will have on its consolidated financial statements.

        In February 2017, the FASB issued ASU No. 2017-05, which clarifies the scope of guidance on nonfinancial asset derecognition (ASC 610-20) as well as the accounting for partial sales of nonfinancial assets. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted but must also early adopt the new revenue standard (ASC 606). The amendments should be applied on a full or modified retrospective basis. The Group will adopt the new standard effective January 1, 2018, and does not expect a significant impact on its consolidated financial statements.

3. Cash, Cash Equivalents and Short-term Investments

        Cash, cash equivalents and short-term investments consist of the following:

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Cash and cash equivalents:
Cash	$	364,766	$	224,080
Short-term investments:
Bank time deposits		31,188		385,105
Total cash, cash equivalents and short-term investments	$	395,954	$	609,185

F-21

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

3. Cash, Cash Equivalents and Short-term Investments (Continued)

        The carrying amounts of cash, cash equivalents and short-term investments approximate fair value. Interest income was $3.2 million and $5.3 million for the six months ended June 30, 2016 and 2017, respectively. The maturity dates for the time deposits were within one year.

4. Long-term Investments

        Long-term investments comprised of investments in privately held and publicly traded companies. The following sets forth the changes in the Group's long-term investments:

	Cost Method			Equity Method			Available-for-Sale Securities			Total
	(In thousands)
Balance at December 31, 2016	$	390,330		$	4,329		$	5,274		$	399,933
Investments made		20,902			—			—			20,902
Gain from equity method investment		—			210			—			210
Dividend from equity method investment		—			(267	)		—			(267	)
Impairment on investments		(1,384	)		—			—			(1,384	)
Unrealized loss		—			—			(901	)		(901	)
Currency translation adjustment		1,111			107			—			1,218
Balance at June 30, 2017	$	410,959		$	4,379		$	4,373		$	419,711

        As of December 31, 2016 and June 30, 2017, investments accounted for under the cost method were $390.3 and $411.0 million, respectively. Investments were accounted for under the cost method if the Group had no significant influence or if the underlying shares were not considered in substance ordinary shares and had no readily determinable fair value.

        For the six months ended June 30, 2017, the Group made investments in private high-tech companies totaling $20.9 million, which were accounted for under the cost method. These investments were made, in general to expand and strengthen the Group's ecosystem.

        Investments in marketable securities are held as available-for-sale and reported at fair value due to changes in quoted market price. As of December 31, 2016 and June 30, 2017, the fair value of the AFS investment was $5.3 million and $4.4 million, respectively.

        The Group performs an impairment assessment on its investments regularly and determines whether investment impairment, if any, is other-than-temporary based on changes in quoted market price or other impairment indicators. For the six months ended June 30, 2016 and 2017, the Group recorded impairment charges of $4.1 million and $1.4 million, respectively, on the carrying value of its long-term investments, as a result of the investments not performing to expectation.

F-22

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

5. Goodwill and Intangible Assets

        The following sets forth the changes in the Group's goodwill by segment:

	Advertising & Marketing		Other		Total
	(In thousands)
Balance as of December 31, 2016	$	—	$	10,266	$	10,266
Currency translation adjustment		—		396		396
Balance as of June 30, 2017	$	—	$	10,662	$	10,662

        As of December 31, 2016 and June 30, 2017, the balance of goodwill was $10.3 million and $10.7 million, respectively. The increase of its balance in the six months ended June 30, 2017 was mainly due to the appreciation of the Renminbi and was reflected in currency translation adjustment in unaudited interim condensed consolidated financial statements.

        As of June 30, 2017, the Group's intangible assets totaled $0.8 million, mainly consisted of acquired game-related platform technology and a non-compete agreement. The amortization expense for the six months ended June 30, 2016 and 2017 was $0.4 million and $0.3 million, respectively. As of June 30, 2017, estimated amortization expenses for future periods are expected as follows:

Twelve Months Ended June 30,	(In thousands)
2018	$	629
2019 and thereafter		182
Total expected amortization expense	$	811

6. Stock-Based Compensation

        In August 2010, the Company adopted the 2010 Share Incentive Plan (the "2010 Plan"), which has a term of ten years and permits the grant of options, share appreciation rights, restricted shares and restricted share units of the Company to employees, directors and consultants of the Company and its affiliates. Under the plan, a total of 35 million ordinary shares were initially reserved for issuance. The maximum number of ordinary shares available for issuance will be reduced by one share for every one share issued pursuant to a share option or share appreciation right and by 1.75 share for every one share issued as restricted shares or pursuant to a restricted shares unit. In March 2014, the 2010 Plan was terminated and all remaining shares were forwarded to the 2014 Plan.

        In March 2014, the Company adopted the 2014 Share Incentive Plan (the "2014 Plan"), which was funded by the remaining 4.6 million shares from the 2010 Plan plus an additional 1.0 million shares. On January 1, 2015, shares in the 2014 Plan, which have a term life of ten years, were allowed a one-time increase in the amount equal to 10% of the total number of Weibo shares issued and outstanding on a fully-diluted basis as of December 31, 2014. Each share in the 2014 Plan pool allows for a grant of a restricted share unit or option share. The Company intends to use such share incentive plan to attract and retain employee talent.

F-23

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

6. Stock-Based Compensation (Continued)

        The following table sets forth the stock-based compensation included in each of the relevant accounts:

	Six Months Ended June 30,
	2016		2017
	(In thousands)
Cost of revenues	$	1,051	$	1,635
Sales and marketing		1,918		3,761
Product development		6,056		10,245
General and administrative		6,770		6,985
	$	15,795	$	22,626

        Stock based compensation related to the grants were amortized generally over four years on a straight-line basis with $15.8 million and $22.6 million expensed for the six months ended June 30, 2016 and 2017, respectively.

        The following table sets forth a summary of the number of shares available for issuance:

	Shares Available
	(In thousands)
December 31, 2016		18,878
Addition		—
Granted*		(561	)
Cancelled/expired/forfeited		123
June 30, 2017		18,440

*

During the six months ended June 30, 2017, 0.6 million restricted share units and no options were granted under the 2014 Plan.

F-24

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

6. Stock-Based Compensation (Continued)

Stock Options

        The following table sets forth a summary of option activities under the Company's stock option program:

	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(In thousands)					(In years)		(In thousands)
December 31, 2016		2,587		$	1.41		1.6	$	101,403
Granted		—		$	—
Exercise		(1,744	)	$	0.80
Cancelled/expired/forfeited		(2	)	$	3.49
June 30, 2017		841		$	2.67		2.0	$	53,626
Vested and expected to vest as of June 30, 2017		835		$	2.66		2.0	$	53,287
Exercisable as of June 30, 2017		790		$	2.62		1.9	$	50,466

        The total intrinsic value of options exercised for the six months ended June 30, 2017 was $99.4 million. The intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the shares. As reported by the NASDAQ Global Selected Market, the Company's ending stock price as of December 31, 2016 and June 30, 2017 was $40.60 and $66.47, respectively. Cash received from the exercise of stock option during the six months ended June 30, 2016 and 2017 was $2.1 million and $1.4 million, respectively.

        As of June 30, 2017, unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested stock options granted to the Group's employees and directors was $0.4 million. Total unrecognized compensation cost is expected to be recognized over a weighted-average period of 0.4 years and may be adjusted for future changes in estimated forfeitures.

        Information regarding stock options outstanding at June 30, 2017 is summarized below:

Range of Exercise Prices	Options Outstanding		Weighted Average Exercise Price		Options Exercisable		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
	(In thousands)				(In thousands)				(In years)
$0.36 - $0.41		151	$	0.38		151	$	0.36		0.25
$0.96 - $1.80		69	$	0.97		69	$	0.97		0.75
$3.25 - $3.36		278	$	3.33		278	$	3.33		1.91
$3.43 - $3.50		343	$	3.48		293	$	3.48		3.10
		841	$	0.39		791	$	2.62		0.29

F-25

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

6. Stock-Based Compensation (Continued)

Restricted Share Units

Summary of Performance-Based Restricted Share Units

        The following table sets forth a summary of performance-based restricted share unit activities:

	Shares Granted			Weighted-Average Grant Date Fair Value
	(In thousands)
December 31, 2016		108		$	27.00
Awarded		155		$	50.45
Vested		(102	)	$	27.00
Cancelled		(10	)	$	34.74
June 30, 2017		151		$	50.48

        As of June 30, 2017, there was $5.0 million unrecognized compensation cost, adjusted for estimated forfeitures, related to performance-based restricted share units granted to the Company's employees.

Summary of Service-Based Restricted Share Units

        The following table sets forth a summary of service-based restricted share unit activities:

	Shares Granted			Weighted-Average Grant Date Fair Value
	(In thousands)
December 31, 2016		5,458		$	17.23
Awarded		406		$	51.61
Vested		(1,295	)	$	17.00
Cancelled		(113	)	$	17.32
June 30, 2017		4,456		$	20.43

        As of June 30, 2017, unrecognized compensation cost, adjusted for estimated forfeitures and related to non-vested, service-based restricted share units granted to the Company's employees and directors, was $76.3 million. This cost is expected to be recognized over a weighted-average period of 2.7 years. The total fair value based on the vesting date of the restricted share units vested was $22.0 million for the six months ended June 30, 2017.

F-26

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

7. Other Balance Sheet Components

	As of
	December 31, 2016			June 30, 2017
	(In thousands)
Accounts receivable, net:
Due from third parties	$	66,701		$	87,839
Due from Alibaba		24,293			19,187
Due from other related parties		31,589			36,076
Total gross amount	$	122,583		$	143,102
Allowance for doubtful accounts:
Balance at the beginning of the year/period		(1,375	)		(6,529	)
Reversal (additional provision) charged to expenses, net		(7,787	)		(4,086	)
Write-off		2,633			2,186
Balance at the end of the year/period		(6,529	)		(8,429	)
	$	116,054		$	134,673
Prepaid expenses and other current assets:
Rental and other deposits	$	3,965		$	2,304
Prepayment for investments		24,953			29,389
Advertising prepayment		5,267			3,144
Prepayment to outsourced service providers		4,043			5,134
Amounts deposited by users*		21,203			22,026
Others		7,233			8,488
	$	66,664		$	70,485
Property and equipment, net:
Computers and equipment	$	94,170		$	104,388
Leasehold improvements		2,054			2,330
Furniture and fixtures		922			1,076
Others		1,655			1,752
Property and equipment, gross		98,801			109,546
Less: Accumulated depreciation		(75,985	)		(83,622	)
	$	22,816		$	25,924
Accrued and other liabilities**:
Payroll and welfare	$	33,786		$	30,323
Marketing expenses		40,968			43,664
Payroll withholding taxes		3,547			3,547
Sales rebates		31,598			40,434
Professional fees		4,255			4,559
VAT and other tax payable		35,728			68,714
Payable to other service providers		1,457			731
Amounts due to users*		21,203			22,026
Others		7,600			6,982
	$	180,142		$	220,980

*

Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out "red envelops" and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo's platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivables temporarily held in Weibo's account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the unaudited interim condensed consolidated balance sheets.

**

Include amounts due to third parties, employees, related parties and Weibo wallet users.

F-27

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

8. Income Taxes

        The Company is registered in the Cayman Islands and mainly operates in two taxable jurisdictions—the PRC and Hong Kong.

        The Group's income before income taxes is as follows:

	Six Months Ended June 30,
	2016			2017
	(In thousands, except percentage)
Income before income tax expenses	$	33,925		$	147,441
Loss from non-China operations	$	(14,620	)	$	(23,737	)
Income from China operations	$	48,545		$	171,178
Income tax expense applicable to China operations	$	2,344		$	27,679
Effective tax rate for China operations		4.8	%		16.2	%

        The Company generated the majority of its operating income from PRC operations and has recorded income tax provision for the periods presented. Stock-based compensation was recorded in the Company's loss from non-China operations.

Cayman Islands

        Under the current tax laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. In addition, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax is required.

China

        Effective January 1, 2008, the Enterprise Income Tax Law (the "EIT Law") in China unifies the enterprise income tax rate for the entities incorporated in China at 25%, unless they are eligible for preferential tax treatment. On February 22, 2008, relevant governmental regulatory authorities released the qualification criteria, application procedures and assessment processes for "software enterprise," which can enjoy an income tax exemption for two years beginning with its first profitable year and a 50% tax reduction, at a rate of 12.5% for the subsequent three years. The Group's WFOE qualifies as a software enterprise and, thus, enjoyed an income tax exemption in 2015 and 2016, as the WFOE was profitable in both years. The tax status of the Group's WFOE changed from being fully tax exempted to being subject to 50% of the enterprise income tax rate, which is 12.5%, in 2017.

        The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose "de facto management body" is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the "de facto management body" as "the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a non-PRC company is located." Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC be considered a resident enterprise for PRC tax purposes. However, due to limited guidance and implementation history of the

F-28

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

8. Income Taxes (Continued)

EIT Law, should Weibo be treated as a resident enterprise for PRC tax purposes, the Company will be subject to PRC tax on worldwide income at a uniform tax rate of 25% retroactive to January 1, 2008.

        The EIT Law also imposes a withholding income tax rate of 10% on dividends distributed by a WFOE to its immediate holding company outside of China, if such immediate holding company is considered as a non-resident enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company's jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. The Cayman Islands, where the Company incorporated, does not have such tax treaty with China. According to the arrangement between Mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by a WFOE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% (if the foreign investor owns directly at least 25% of the shares of the WFOE). The State Administration of Taxation further promulgated Circular 601 on October 27, 2009, which provides that tax treaty benefits will be denied to "conduit" or shell companies without business substance and that a beneficial ownership analysis will be used based on a "substance-over-form" principle to determine whether or not to grant the tax treaty benefits.

        The operations of the Group's WFOE in China is invested and held by Weibo HK. If the Company is regarded as a non-resident enterprise and Weibo HK is regarded as a resident enterprise, then Weibo HK may be required to pay a 10% withholding tax on any dividends payable to the Company. If Weibo HK is regarded as a non-resident enterprise, then Weibo Technology may be required to pay a 5% withholding tax for any dividends payable to Weibo HK. However, it is still unclear at this stage whether Circular 601 applies to dividends from Weibo Technology paid to Weibo HK. If Weibo HK were not considered as "beneficial owners" of any dividends from Weibo Technology, the dividends payable to Weibo HK would be subject to a withholding tax of 10%. In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to Weibo Corporation and are subject to the withholding taxes. The current policy approved by the Company's board of directors allows the Group to distribute PRC earnings offshore only if the Group does not have to pay a dividend tax. As of December 31, 2016 and June 30, 2017, the Group did not record any withholding tax for its PRC subsidiaries.

9. Related Party Transactions

        The following sets forth significant related parties and their relationships with the Company:

Company Name	Relationship with the Company
SINA	Parent and affiliates under common control.
Alibaba	Strategic partner and significant shareholder of the Company.

        Matching loan between Weibo and SINA.

        In January 2017, the Company and its certain subsidiary entered into one-year loan agreements with SINA and SINA's certain subsidiary, pursuant to which the Company is entitled to draw down U.S. dollar-denominated loan from SINA and the SINA subsidiary is entitled to draw down equivalent

F-29

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

9. Related Party Transactions (Continued)

RMB-denominated loan from the Company's subsidiary, to facilitate each other's business operations. All of the loans carry a fixed rate of interest equal to the current market interest rate as of the dates when the principal was drawn down. As of June 30, 2017, the Company had a U.S. dollar-denominated loan from SINA with principal amount of $60.0 million, and the Company's subsidiary has a RMB-denominated loan to the SINA's subsidiary with principal amount of $60.5 million, respectively. For the six months ended June 30, 2017, interest income that the Group earned from such RMB-denominated loans was $0.9 million, and interest expense that the Group accrued for such U.S. dollar-denominated loans was $0.8 million, respectively.

        The following sets forth significant related party transactions with the Company:

	Six Months Ended June 30,
	2016		2017
	(In thousands, except percentage)
Transactions with SINA
Revenue billed through SINA(1)	$	13,301	$	25,965
Costs and expenses allocated from SINA(2)	$	12,527	$	17,612
Interest income on matching loan to SINA	$	—	$	923
Interest expense on matching loan from SINA	$	—	$	831

(1)

For the six months ended June 30, 2016 and 2017, the Group billed $13.3 million and $26.0 million, respectively, to third parties through SINA.

(2)

Costs and expenses allocated from SINA represented the charges for certain services provided by SINA's affiliates and charged to the Company using actual cost allocation based on proportional utilization. In addition to the allocated costs and expenses, SINA also billed $11.1 million and $10.4 million for other costs and expenses associated with Weibo's business for the six months ended June 30, 2016 and 2017 respectively.

	Six Months Ended June 30,
	2016		2017
	(In thousands, except percentage)
Transactions with Alibaba
Advertising and marketing services provided to Alibaba	$	23,969	$	20,987
Services provided by Alibaba	$	6,752	$	11,594

F-30

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

9. Related Party Transactions (Continued)

        The following sets forth related party outstanding balance:

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Amount due from SINA(3)	$	18,565	$	—
Amount due to SINA(3)	$	—	$	2,885
Matching loan to SINA(4)	$	—	$	61,360
Matching loan from SINA(4)	$	—	$	60,831
Accounts receivable due from Alibaba	$	24,293	$	19,187

(3)

The Group uses amount due from/to SINA to settle balances arising from cost and expenses allocated from SINA based on proportional utilization, other expenditures associated with the Weibo business paid by SINA and third-party customer and supplier balances settled through SINA. As of June 30, 2017, the amount due to SINA included a $2.0 million short-term loan from SINA.

(4)

As of June 30, 2017, the outstanding balances of matching loan to/from SINA included the principal amount of loans and the interest income/expense accrued for the six months ended June 30, 2017.

        For the six months ended June 30, 2016 and 2017, advertising and marketing revenues generated from other related parties were $18.4 million and $30.2 million, respectively, and other revenues from other related parties were $0.3 million and $1.9 million, respectively. For the six months ended June 30, 2016 and 2017, the Group received promotional services from other related parties amounting to approximately $4.5 million and $1.5 million, respectively. As of December 31, 2016 and June 30, 2017, amount due from other related parties was $30.1 million and $34.6 million, respectively, and accrued and other liabilities due to other related parties were $9.3 million and $6.4 million, respectively.

10. Net Income per Share

        Basic net income per share is computed using the weighted average number of the ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in the computation of basic earnings per share ("EPS"). Diluted EPS is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under the treasury stock method.

F-31

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

10. Net Income per Share (Continued)

        The following table sets forth the computation of basic and diluted net income per share for the periods indicated:

	Six Months Ended June 30,
	2016		2017
	(In thousands, except per share data)
Basic net income per share calculation:
Numerator:
Net income attributable to Weibo	$	32,955	$	120,479
Denominator:
Weighted average ordinary shares outstanding		212,903		219,281
Basic net income per share attributable to Weibo	$	0.15	$	0.55
Diluted net income per share calculation:
Numerator:
Net income attributable for calculating diluted net income per share	$	32,955	$	120,479
Denominator:
Weighted average ordinary shares outstanding		212,903		219,281
Weighted average ordinary shares equivalents:
Effects of dilutive securities
Stock options		5,318		1,839
Unvested restricted share units		2,559		3,835
Shares used in computing diluted net income per share attributable to Weibo		220,780		224,955
Diluted net income per share attributable to Weibo	$	0.15	$	0.54

11. Segment Information

        The Group currently operates and manages its business in two principal business segments globally—advertising and marketing services and other services. Information regarding the business segments provided to the Group's chief operating decision makers ("CODM"), its Chief Executive Officer, is at the revenue level and the Group currently does not allocate operating costs or assets to its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments. As substantially all of the Group's revenues are derived from within the PRC and substantially all of the Group's long-lived assets are located within the PRC, no geographical information is presented.

        The following is a summary of the Group's revenues:

Revenues	Advertising & Marketing		Other		Total
	(In thousand)
Six months ended June 30, 2016	$	226,419	$	39,756	$	266,175
Six months ended June 30, 2017	$	387,637	$	64,937	$	452,574

F-32

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

12. Financial Instruments

Fair Value

        The following table sets forth the financial instruments measured at fair value by level within the fair value hierarchy as of December 31, 2016 and June 30, 2017:

	Fair Value Measurements
	Total		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
As of December 31, 2016:
Bank time deposits*	$	31,188	$	—	$	31,188	$	—
Available-for-sale securities**		5,274		5,274		—		—
Total	$	36,462	$	5,274	$	31,188	$	—
As of June 30, 2017:
Bank time deposits*	$	385,105	$	—	$	385,105	$	—
Available-for-sale securities**		4,373		4,373		—		—
Total	$	389,478	$	4,373	$	385,105	$	—

*

Included in cash and cash equivalents and short-term investments on the Group's unaudited interim condensed consolidated balance sheets.

**

Included in long-term investments on the Group's unaudited interim condensed consolidated balance sheets.

Recurring

        The Group measures bank time deposits and available-for-sale securities at fair value on a recurring basis.

        The fair value of the Group's available-for-sale securities are determined based on the quoted market price (Level 1). The fair value of the Group's bank time deposits are determined based on the quoted market price for similar products (Level 2).

        The Group reviews its available-for-sale investments regularly to determine if an investment is other-than-temporarily impaired due to changes in quoted market price or other impairment indicators. No impairment was charged for the six months ended June 30, 2016 and 2017 (see Note 4 for further information).

Non-recurring

        The Group measures certain financial assets, including investments under the cost method and equity method, at fair value on a non-recurring basis only if an impairment charge is recognized.

        The fair value of the Group's privately held investments are determined using the income approach with unobservable inputs, such as the investee company's historical financial results and assumptions about future growth rates, which require significant judgment to determine, and the market approach based on market participants' price quote for the investment. Certain privately held

F-33

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

12. Financial Instruments (Continued)

investments under the cost method and equity method were measured using significant unobservable inputs (Level 3). For the six months ended June 30, 2016 and 2017, several investments were written down from their respective carrying value to a fair value of nil, with impairment charges incurred and recorded in earnings for the period. The impairment charges related to these investments were $4.1 million and $1.4 million, respectively (see Note 4 for further information).

        The Group's non-financial assets, such as intangible assets, goodwill and fixed assets, are measured at fair value only if they were determined to be impaired. In accordance with the Group policy to perform an impairment assessment of its goodwill on an annual basis as of the balance sheet date or when facts and circumstances warrant a review, the Group performed an impairment assessment on its goodwill by reporting unit annually. The Group concluded that no write-down was warranted as of December 31, 2016.

13. Commitments and Contingencies

        Operating lease commitments include the commitments under the lease agreements for the Group's office premises. The Group leases its office facilities under non-cancelable operating leases with various expiration dates through 2022. For the six months ended June 30, 2016 and 2017, lease expense was $8.5 million and $4.8 million, respectively. Based on the current rental lease agreements, future minimum lease payments required as of June 30, 2017 was as follows:

Operating lease commitments	Total		Less than One Year		One to Three Years		Three to Five Years		More than Five Years
	(In thousands)
As of June 30, 2017:	$	37,524	$	8,728	$	16,505	$	12,291	$	—

        Purchase commitments mainly include minimum commitments for internet connection and marketing activities.

        Purchase commitments as of June 30, 2017 was as follows:

Purchase commitments	Total		Less than One Year		One to Three Years		Three to Five Years		More than Five Years
	(In thousands)
As of June 30, 2017:	$	279,429	$	242,570	$	36,759	$	100	$	—

        There are uncertainties regarding the legal basis of the Group's ability to operate an Internet business in China. Although China has implemented a wide range of market-oriented economic reforms, the telecommunication, information and media industries remain highly regulated. Not only are such restrictions currently in place, the existing regulations are unclear as to which specific segments of these industries companies with foreign investors, including the Company, may operate. Therefore, the Group may be required to limit the scope of its operations in China, and this could have a material adverse effect on its financial position, results of operations and cash flows.

        In June and August 2017, the Company and certain of its officers were named as defendants in two putative securities class actions filed in the United States District Court for the District of New Jersey, respectively. The actions—purportedly brought on behalf of a class of persons who allegedly suffered damages as a result of their trading in the Company's ADSs between April 27 and

F-34

WEIBO CORPORATION

NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS (Continued)

13. Commitments and Contingencies (Continued)

June 22, 2017 or between April 28, 2016 and June 19, 2017, allege that the Company's public filings contained misstatements and omissions in violation of the U.S. federal securities laws. On August 28, 2017, two sets of purported shareholders filed motions to consolidate the cases and appoint themselves as lead plaintiffs of the purported plaintiff class and appoint their designated counsel as lead counsel. The cases are otherwise in their preliminary stages. As of this stage, the Company is unable to estimate the possible outcome or loss or possible range of loss, if any, associated with the resolution of these lawsuits. As of June 30, 2017, no losses with respect to this contingency were accrued.

14. Subsequent Events

        In October 2017, the board of directors (the "Board") of the Company authorized the Company to offer convertible senior notes due 2022 (the "notes") up to a certain aggregate principal amount in a capital markets transaction, subject to market conditions. The net proceeds from the notes will be used for general corporate purposes, including working capital needs and potential acquisition of complementary businesses.

        The conversion rate and other terms of the notes have not been finalized and will be determined at the time of the offering.

F-35

EX-99.2

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Exhibit 99.2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the unaudited interim condensed consolidated financial statements and the notes thereto set forth in Exhibit 99.1("Unaudited Interim Condensed Consolidated Financial Statements") to our current report on Form 6-K, which is being furnished today to the Securities and Exchange Commission, and the section titled "Operating and Financial Review and Prospects" in our annual report on Form 20-F for the fiscal year ended December 31, 2016, or our 2016 Annual Report, as filed with the SEC on April 27, 2017, and the audited consolidated financial statements and the notes thereto set forth in such annual report. This discussion may contain forward-looking statements based upon current expectations that involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors. For additional information related to forward-looking statements and material risks associated with them, please see the "Cautionary Statement Regarding Forward Looking Statements" section of this management's discussion and analysis of financial condition and results of operations. This management's discussion and analysis of financial condition and results of operations is dated as of October 24, 2017.

Overview

        As a leading social media for people to create, share and discover Chinese-language content, Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content creation and distribution. Since our inception in 2009, we have achieved significant scale. In June 2017, we had 361 million MAUs and 159 million average DAUs, increasing from 282 million MAUs and 126 million average DAUs in June 2016. Approximately 92% of our MAUs in June 2017 accessed Weibo through mobile devices at least once during the month.

        Weibo offers a wide range of advertising and marketing solutions to our customers, ranging from key accounts, which are mostly large brand advertisers, to SMEs, enabling them to promote their brands, products and services to our users. Advertising and marketing services contribute to the majority of our revenues, including the sale of social display ads and promoted feeds. We have developed and are continuously refining our SIG recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships and interests to achieve greater relevance, engagement and marketing effectiveness on Weibo.

        The value we create for our users and customers is enhanced by our platform partners, which include media outlets and other organization with media rights, MCNs, which are talent agencies for influencers, and app developers. Our platform partners contribute a vast amount of content to Weibo, broadly distribute Weibo content across their properties, and develop products and applications on our platform, enriching the experience of our users while increasing Weibo's monetization opportunities. We have revenue-sharing arrangements with some of our platform partners, such as game developers.

        Weibo began monetization in 2012 primarily through the sale of advertising and marketing services and, to a lesser extent, through VIP membership, data licensing, game services and other value-added services. We place great emphasis on product innovation and our steady stream of new ad product introductions has led to rapid revenue growth. We have since experienced rapid revenue growth. Our revenues reached $452.6 million in the six months ended June 30, 2017, up by 70% from $266.2 million for the six months ended June 30, 2016. We had a net income attributable to Weibo of $120.5 million in the six months ended June 30, 2017, up by 266% from $33.0 million for the six months ended June 30, 2016.

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Critical Accounting Policies, Judgments and Estimates

        Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with U.S. GAAP, appearing elsewhere in this prospectus supplement. The preparation of these consolidated financial statements requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. We evaluate these estimates, judgments and assumptions on an ongoing basis.

        Our estimates are based on historical experience and various other assumptions that we believe to be reasonable under the circumstances. These estimates form the basis for our judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from such estimates under different assumptions or conditions.

        We believe the following critical accounting policies affect the more significant judgments and estimates used in the preparation of our consolidated financial statements:

Basis of Presentation and Consolidation

        The preparation of our consolidated financial statements is in conformity with US GAAP. The consolidated financial statements include the accounts of our company, our wholly-owned subsidiaries, our variable interest entity and its subsidiaries. All significant intercompany balances and transactions have been eliminated.

Use of Estimates

        Conformity with U.S. GAAP requires the use of estimates and judgments that affect the reported amounts in the consolidated financial statements. These estimates form the basis for judgments we make about the carrying values of assets and liabilities, which are not readily available from other sources. U.S. GAAP requires making estimates and judgments in several areas, including, but not limited to, the basis of consolidation, revenue recognition, fair value accounting, income taxes, goodwill and other long-lived assets, allowances for doubtful accounts, stock-based compensation, and the estimated useful lives of assets. We base the estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. Actual results could differ materially from such estimates.

Revenue Recognition

        Advertising and Marketing Revenues.    Our advertising and marketing revenues are derived principally from online advertising and marketing, including social display ads and promoted marketing. Revenues are recognized only when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the price is fixed or determinable; (3) the service is performed; and (4) collectability of the related fee is reasonably assured. The majority of our revenue transactions are based on standard business terms and conditions, which are recognized net of agency rebates. Advertising arrangements involving multiple deliverables are broken down into single-element arrangements based on their relative selling price for revenue recognition purposes. We have adopted the new revenue recognition policy on multiple-deliverable revenue arrangements, which requires the arrangement consideration to be allocated to all deliverables at the inception of the arrangement on the following basis: (a) vendor-specific objective evidence of the selling price, if it exists; otherwise, (b) third-party evidence of the selling price. If neither (a) nor (b) exists, then we must use (c) our best estimate of the selling price of the deliverable. Currently, we primarily use vendor-specific objective evidence to allocate the arrangement consideration if such selling price is available. For the deliverables that have not been sold separately, our best estimate of the selling price is used, which has taken into consideration the pricing of advertising areas of our platform with similar popularity and

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advertisements with similar format and quoted prices from competitors and other market conditions. We recognize revenues on the elements delivered and defer the recognition of revenues for the undelivered elements until the remaining obligations have been satisfied.

        Revenues from barter transactions are recognized during the period in which the advertisements are displayed on our properties. Barter transactions in which physical goods or services are received in exchange for advertising services are recorded based on the fair values of the goods or services received. Revenues from barter transactions were immaterial for all periods presented.

        Other Revenues.    We generate other service revenues principally from value-added services, including game-related services, VIP membership and data licensing. Revenues from these services are recognized over the periods in which the services are performed, provided that no significant obligations remain, collection of the receivables is reasonably assured and the amounts can be accurately estimated.

        A majority of game-related revenues are generated generally from the purchase of virtual items by game players through our platform. We collect payments from the game players in connection with the sale of virtual currency, which will later be converted by the game players into in-game credits (game tokens) that can be used to purchase virtual items in online games. We remit certain predetermined percentages of the proceeds to the game developers when the virtual currency is converted into in-game credits.

        We have determined that the game developers are the primary obligors for the game-related services given that the game developers are responsible for developing, maintaining and updating the online games and have reasonable latitude to establish the prices of virtual items for which in-game credits are used. We view the game developers to be our customers, and our primary responsibility is to promote the games of the third-party developers, provide virtual currency exchange services, maintain the platform for game players to easily access the games and offer customer support to resolve registration, log-in, currency exchange and other related issues. Accordingly, we record game-related revenues net of predetermined revenue-sharing with the game developers.

        Virtual currencies in general are not refundable once they have been sold unless there are unused in-game credits at the time a game is discontinued. Sale of virtual currencies net of the game developer proceeds are recognized as revenues over the estimated consumption period of in-game virtual items, which is typically from a few days to one month after the purchase of in-game credits. Virtual currency sold for game-related services in excess of recognized revenues is recorded as deferred revenues.

        Game-related revenues recognition involves management judgments, such as the determination of the principal in providing game-related services and estimating the consumption period of in-game credits. We assess the estimated consumption period periodically, taking into consideration the actual consumption information, types of virtual items offered in the game and user behavior patterns, including average recharge interval and estimated user relationship on the game. Using different assumptions to calculate the revenue recognition of game-related revenues may cause the results to be significantly different. Any adjustments arising from changes in the estimate would be applied prospectively on the basis that such changes are caused by new information indicating a change in the user behavior pattern.

        VIP membership is a service package consisting of user certification and preferential benefits, such as daily priority listings and higher quota for following user accounts. Prepaid VIP membership fees are recorded as deferred revenue and recognized as revenue ratably over the contract period of the membership service.

        We offer data licensing that allow our customers to access, search and analyze historical and real-time data on our platform. Data licensing arrangements are for a fixed period, typically one year, and such derived revenue is recognized ratably over the contract period.

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Stock-based compensation

        All stock-based awards to employees and directors, such as stock options and restricted share units ("RSUs"), are measured at the grant date based on the fair value of the awards. Stock-based compensation, net of forfeitures, is recognized as expenses on a straight-line basis over the requisite service period, which is the vesting period.

        We use the Black-Scholes option pricing model to estimate the fair value of stock options. The determination of estimated fair value of stock-based payment awards on the grant date using an option pricing model is affected by the fair value of our ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of us over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and expected dividends, if any. Options granted generally vest over four years.

        We recognize the estimated compensation cost of restricted share units based on the fair value of the corresponding ordinary shares on the date of the grant. We recognize the compensation cost, net of estimated forfeitures, over a vesting term of generally four years for service-based restricted share units. We also recognize the compensation cost of performance-based restricted share units, net of forfeitures, according to the probability of performance goal achievement at the end of each reporting period.

        Forfeitures are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. We use historical data to estimate pre-vesting option and record stock-based compensation expense only for those awards that are expected to vest.

Taxation

        Income Tax.    Income taxes are accounted for using the asset and liability approach. Under this approach, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry forwards. We record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not.

        Uncertain Tax Positions.    To assess uncertain tax positions, we apply a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement.

Accounts Receivable and Allowances for Doubtful Accounts

        Accounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. We maintain an allowance for doubtful accounts which reflects our best estimate of amounts that will not be collected. We determine the allowance for doubtful accounts based on a historical, rolling average, bad debt rate in the prior period and other factors, such as credit-worthiness of the customers and the age of the receivable balances. We also provide specific provisions for bad debts when facts and circumstances indicate that the receivable is unlikely to be collected. If the financial condition of our customers were to deteriorate and result in an impairment of their ability to make payments, additional allowances may be required which could materially impact our financial position and results of operations.

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Fair Value Measurements

Financial instruments

        All financial assets and liabilities are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and we consider assumptions that market participants would use when pricing the asset or liability.

        Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

•

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

•

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

•

Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

        The carrying amount of cash and cash equivalents, short-term investments, accounts receivable due from third parties, accounts receivable due from Alibaba, accounts receivable due from other related parties, matching loan to/from SINA, accounts payable, amount due from/to SINA, accrued and other liabilities approximates fair value because of their short-term nature.

Long-Term Investments

        Long-term investments are comprised of investments in publicly traded and privately held companies. For equity investments over which we do not have significant influence, the cost method of accounting is used. For long-term investments in shares that are not common stock or in-substance common stock and that do not have readily determinable fair value, the cost method accounting is used. We use the equity method to account for ordinary-share-equivalent equity investments over which we have significant influence but do not own a majority equity interest or otherwise control.

        We monitor our investments accounted for under the cost method and equity method for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the business, including current earnings trends, undiscounted cash flows, and other company-specific information, such as recent financing rounds. Determination of the fair value, particularly for investments in privately-held companies whose revenue model is unclear, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and the determination of whether any identified impairment is other-than-temporary. If any impairment is considered other-than-temporary, we will write down the asset to its fair value and take the corresponding charge to the consolidated statements of comprehensive income (loss).

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        We invest in marketable equity securities to meet business objectives and intend to hold the securities for more than a year from the balance sheet date. These marketable securities are reported at fair value, classified and accounted for as available-for-sale ("AFS") securities under long-term investments. The treatment of a decline in the fair value of an individual security is based on whether the decline is other-than-temporary. We assess our available-for-sale securities for other-than-temporary impairment by considering factors including, but not limited to, our ability and intent to hold the individual security, severity of the impairment, expected duration of the impairment and forecasted recovery of fair value. Investments classified as available-for-sale securities are reported at fair value with unrealized gains or losses, if any, recorded in accumulated other comprehensive loss in shareholders' equity. If we determine a decline in fair value is other-than-temporary, the cost basis of the individual security is written down to fair value as a new cost basis and the amount of unrealized loss recorded in accumulated other comprehensive loss will be reclassified to net income(loss) in the consolidated statements of comprehensive income. The fair value of the investment would then become the new cost basis of the investment and is not adjusted for subsequent recoveries in fair value.

Long-Lived Assets

Goodwill

        Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of our acquisitions of interests in our subsidiaries and consolidated VIE. We assesses goodwill for impairment in accordance with ASC Subtopic 350-20 ("ASC 350-20"), Intangibles—Goodwill and Other: Goodwill, which requires that goodwill be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. U.S. GAAP provides the option to apply the qualitative assessment first and then the quantitative assessment, if necessary, or to apply the quantitative assessment directly. The qualitative approach starts the goodwill impairment test by assessing qualitative factors, i.e., by taking into consideration of macroeconomics, overall financial performance, industry and market conditions and the share price of us, to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If so, the quantitative impairment test is to be performed; otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of goodwill with its carrying value. For reporting units directly applying a quantitative assessment, the goodwill impairment test is quantitatively performed by comparing the fair values of those reporting units to their carrying amounts. We adopted the option to apply the qualitative approach to assess goodwill on the relevant reporting units. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value of each reporting unit. The judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit.

Intangible assets other than goodwill

        Intangible assets arising from acquisitions are recognized at fair value upon acquisition and amortized on a straight-line basis over their estimated useful lives, generally from two to five years. Long-lived assets and certain identifiable intangible assets other than goodwill to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for long-lived assets and certain identifiable intangible assets that management expects to hold or use is based on the amount by which the carrying value exceeds the

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fair value of the asset. Judgment is used in estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the asset's fair value.

Recent Accounting Pronouncements

        In May 2014, the Financial Accounting Standards Board ("FASB") issued, ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)." The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles. In April 2015, the FASB proposed a one-year delay in the effective date and companies will be allowed to early adopt as of the original effective date. We plan to adopt the new revenue guidance beginning in the first quarter of fiscal year 2018. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). We currently anticipate adopting the standard using the modified retrospective method, and we are still in the process of completing the analysis on the impact this guidance will have on our consolidated financial statements and related disclosures.

        In January 2016, the FASB issued updated guidance on financial instruments, ASU No. 2016-01, which intends to improve the recognition and measurement of financial instruments. Most prominent among the changes in the standard is the requirement for changes in the fair value of our equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income. We plan to adopt the new guidance beginning in the first quarter of fiscal year 2018. Adoption of the standard will be applied through a cumulative-effect adjustment to retained earnings as of the effective date. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

        In February 2016, the FASB issued a new standard on leases, ASU No. 2016-02, which requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize a liability to make lease payments (the lease liability) and a right-of use representing its right to use the underlying asset for the lease term in the statements of financial position. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. This standard will be effective beginning the first quarter of fiscal year 2019. We are currently evaluating the impact that this new standard will have on our consolidated financial statements.

        In August 2016, the FASB issued ASU No. 2016-15, which clarifies and includes specific guidance to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption of the amendments is permitted. The amendments in this ASU should be applied using a retrospective transition method to each period presented. We will adopt the amendments in the fiscal year of 2018 and do not expect the standard to have a material impact on our consolidated financial statements.

        In January 2017, the FASB issued ASU No. 2017-01, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted. The amendments should be applied prospectively on or after the effective date. No disclosures are required at transition. We will adopt the amendments in the fiscal year of 2018 and do not expect the standard to have a material impact on our consolidated financial statements.

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        In January 2017, the FASB issued ASU No. 2017-04, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value, which eliminates the current requirement to calculate a goodwill impairment charge by comparing the implied fair value of goodwill with its carrying amount. The amendments will be effective beginning the first quarter of fiscal year 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied on a prospective basis. We are currently evaluating the impact this new guidance will have on our consolidated financial statements.

        In February 2017, the FASB issued ASU No. 2017-05, which clarifies the scope of guidance on nonfinancial asset derecognition (ASC 610-20) as well as the accounting for partial sales of nonfinancial assets. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted along with the early adoption of the new revenue standard (ASC 606). The amendments should be applied on a full or modified retrospective basis. We will adopt the new standard effective January 1, 2018, and do not expect a significant impact on our consolidated financial statements.

Results of Operations

        The following table sets forth a summary of our consolidated results of operations for the periods presented. This information should be read together with our unaudited interim condensed consolidated financial statements and related notes included elsewhere in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference, including our 2016 Annual Report. Due to our limited operating history, period-to-period comparisons discussed below may not be meaningful and are not indicative of our future trends. See "Risk Factors—Risks Relating to Our

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Business—We have a limited operating history in a new and unproven market, which makes it difficult to evaluate our future prospects."

	Year Ended December 31,									Six Months Ended June 30,
	2014			2015			2016			2016			2017
	(in $ thousands, except for per share and per ADS data)
Consolidated Statements of Operations Data:
Revenues:
Advertising and marketing revenues:
Third parties		129,644			207,657			428,275			170,743			310,453
Alibaba		107,587			143,650			57,908			23,969			20,987
SINA and other related parties		27,551			51,108			84,799			31,707			56,197
Subtotal		264,782			402,415			570,982			226,419			387,637
Other revenues		69,390			75,476			84,818			39,756			64,937
Total revenues		334,172			477,891			655,800			266,175			452,574
Costs and expenses:
Cost of revenues(1)		83,599			141,960			171,231			77,283			96,822
Sales and marketing(1)		120,361			126,059			148,283			62,207			106,526
Product development(1)		125,832			143,444			154,088			74,545			84,719
General and administrative(1)		26,483			28,925			41,218			17,738			20,686
Total costs and expenses		356,275			440,388			514,820			231,773			308,753
Income (loss) from operations		(22,103	)		37,503			140,980			34,402			143,821
Gain (Loss) from equity method investments		(5	)		(6	)		(130	)		(61	)		210
Realized gain from investments		481			944			534			534			14
Investment related impairment		(2,521	)		(8,005	)		(40,161	)		(4,842	)		(1,384	)
Interest and other income, net(2)		6,780			6,344			8,757			3,892			4,780
Change in fair value of investor option liability		(46,972	)		—			—			—			—
Income (loss) before income tax expenses		(64,340	)		36,780			109,980			33,925			147,441
Provision of income taxes		1,128			2,591			4,316			2,344			27,679
Net income (loss)		(65,468	)		34,189			105,664			31,581			119,762
Less: Net loss attributable to non-controlling interests		(143	)		(556	)		(2,363	)		(1,374	)		(717	)
Net income (loss) attributable to Weibo		(65,325	)		34,745			108,027			32,955			120,479
Shares used in computing net income (loss) per share attributable to Weibo:
Basic		186,878			208,163			214,745			212,903			219,281
Diluted		186,878			217,918			222,859			220,780			224,955
Income (loss) per ordinary share:
Basic	$	(0.35	)	$	0.17		$	0.50		$	0.15		$	0.55
Diluted	$	(0.35	)	$	0.16		$	0.48		$	0.15		$	0.54
Income (loss) per ADS(3):
Basic	$	(0.35	)	$	0.17		$	0.50		$	0.15		$	0.55
Diluted	$	(0.35	)	$	0.16		$	0.48		$	0.15		$	0.54

Notes:

(1)

Stock-based compensation was allocated in costs and expenses as follows:

	Year Ended December 31,						Six Months Ended June 30,
	2014		2015		2016		2016		2017
	(in $ thousands)
Cost of revenues		755		1,196		2,616		1,051		1,635
Sales and marketing		1,583		3,209		5,357		1,918		3,761
Product development		4,392		10,210		15,076		6,056		10,245
General and administrative		7,049		11,784		13,853		6,770		6,985
Total		13,779		26,399		36,902		15,795		22,626

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(2)

Included interest expenses on amount due to SINA of $2.8 million, $nil and $nil for the years ended December 31, 2014, 2015 and 2016, respectively. Also included an interest income of $0.9 million arising from the matching loan to SINA and an interest expense of $0.8 million associated with the matching loan from SINA for the six months ended June 30, 2017.

(3)

Each ADS represents one Class A ordinary share.

Six months ended June 30, 2017 compared to six months ended June 30, 2016

Revenues

        We generate revenues primarily from advertising and marketing services, including social display ads and promoted marketing. We also generate revenues from value-added services, including game-related services, VIP membership and data licensing.

        Our revenues increased by 70% from $266.2 million for the six months ended June 30, 2016 to $452.6 million for the six months ended June 30, 2017.

•

Advertising and marketing revenues.  Advertising and marketing revenues increased by 71% from $226.4 million for the six months ended June 30, 2016 to $387.6 million for the six months ended June 30, 2017. Revenue from key accounts grew by 80% from $80.5 million for the six months ended June 30, 2016 to $145.0 million for the six months ended June 30, 2017, largely attributed to the increase in Weibo's brand influence and the expansion of the coverage of our services to more industries. Revenue from SMEs grew by 82% from $122.0 million for six months ended June 30, 2016 to $221.6 million for the six months ended June 30, 2017, primarily attributed to the expansion of advertising inventory, new and upgraded ad products, and features and increase in user engagement. Revenue generated from Alibaba was $21.0 million for the six months ended June 30, 2017, compared to $24.0 million for the six months ended June 30, 2016. For the six months ended June 30, 2017, mobile advertising revenue accounted for approximately 72% of our total advertising and marketing revenues, compared to 67% for the six months ended June 30, 2016 due to the growth of both mobile users as well as advertiser preferences. Mobile MAUs in June 2017 increased by 32% year over year to 332 million.

•

Other revenues. Other revenues increased by 63% from $39.8 million for the six months ended June 30, 2016 to $64.9 million for the six months ended June 30, 2017. The increase was primarily attributed to the revenue growth of our VIP membership, which increased by 90% year over year from $15.0 million for the six months ended June 30, 2016 to $28.5 million for the six months ended June 30, 2017. Revenue from data licensing increased by 88% from $5.1 million for the six months ended June 30, 2016 to $9.5 million for the six months ended June 30, 2017. Revenues from game-related services decreased by 17% from $16.7 million for the six months ended June 30, 2016 to $13.9 million for the six months ended June 30, 2017.

Costs and Expenses

        Our costs and expenses consist of cost of revenues, sales and marketing, product development and general and administrative expenses, including costs and expenses allocated from SINA during the presented periods. Cost of revenues consists mainly of costs associated with the maintenance of our platform, such as bandwidth and other infrastructure costs, personnel-related expenses, stock-based compensation, content licensing fees and turnover taxes levied on our revenues. Sales and marketing expenses consist primarily of marketing and promotional expenses, personnel-related expenses (including commissions), outside services fees and stock-based compensation. Product development expenses consist primarily of personnel-related expenses, stock-based compensation, outside services fees and infrastructure cost incurred for new product development, product enhancements and back-end systems. General and administrative expenses consist primarily of personnel-related expenses, stock-based compensation, professional services and bad debt allowance.

10

        Our costs and expenses increased by 33% from $231.8 million for the six months ended June 30, 2016 to $308.8 million for the six months ended June 30, 2017.

•

Cost of Revenues.  Cost of revenues increased by 25% from $77.3 million for the six months ended June 30, 2016 to $96.8 million for the six months ended June 30, 2017. The increase was primarily due to an increase of $16.6 million in turnover taxes associated with higher revenues. We expect our cost of revenues to increase in absolute amount in the foreseeable future.

•

Sales and Marketing.  Our sales and marketing expenses increased by 71% from $62.2 million for the six months ended June 30, 2016 to $106.5 million for the six months ended June 30, 2017. The increase resulted from an increase of $35.2 million in marketing and promotional expenses due to more brand promotional events and higher expenditure for user acquisition, an increase of $5.3 million in personnel-related expenses, primarily due to higher commissions arising from higher revenue achievements, an increase of $1.8 million in stock-based compensation, and an increase of $1.7 million in outside service fees. We expect our sales and marketing expenses to increase in absolute amount in the foreseeable future.

•

Product Development.  Our product development expenses increased by 14% from $74.5 million for the six months ended June 30, 2016 to $84.7 million for the six months ended June 30, 2017. The increase was primarily due to an increase of $6.6 million in personnel-related expenses arising from a larger development team as well as higher salaries, an increase of $4.2 million in stock-based compensation, an increase of $1.9 million in infrastructure cost, partially offset by an decrease of $2.6 million in outside service fees and a decrease of $1.8 million in rental expenditure. We expect our product development expenses to increase in absolute amount in the foreseeable future.

•

General and Administrative.  Our general and administrative expenses increased by 17% from $17.7 million for the six months ended June 30, 2016 to $20.7 million for the six months ended June 30, 2017, primarily due to an increase of $2.8 million in bad debt expense, arising from higher revenues as well as customer-specific reserves, and an increase of $1.1 million in professional services. We expect our general and administrative expenses to increase in absolute amount in the foreseeable future.

Investment Related Impairment

        We perform impairment assessments of our investments and determine if an investment is other-than-temporarily impaired due to changes in quoted market price or other impairment indicators. We recorded $4.8 million and $1.4 million in impairment charges for the six months ended June 30, 2016 and 2017, respectively, as a result of the investments not performing to expectation.

Interest and Other Income, Net

        We had a net interest and other income of $4.8 million for the six months ended June 30, 2017, compared to $3.9 million for the six months ended June 30, 2016. The increase was mainly due to an increase of $2.1 million in interest income arising from a higher average balance of cash, cash equivalents and short-term investments, partially offset by a decrease of $1.4 million in foreign exchange gain resulted from the depreciation of Renminbi.

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Provision of Income Taxes

        The following table sets forth our income (loss) before income taxes:

	Year Ended December 31,									Six Months Ended June 30,
	2014			2015			2016			2016			2017
	(in $ thousands, except percentage)
Income (Loss) before income tax expenses		(64,340	)		36,780			109,980			33,925			147,441
Loss from non-China operations		(54,073	)		(28,016	)		(60,193	)		(14,620	)		(23,737	)
Income (Loss) from China operations		(10,267	)		64,796			170,173			48,545			171,178
Income tax expense applicable to China operations		1,128			2,591			4,316			2,344			27,679
Effective tax rate for China operations		(11.0	)%		4.0	%		2.5	%		4.8	%		16.2	%

        We recorded income taxes of $2.3 million and $27.7 million for the six months ended June 30, 2016 and 2017, respectively. The difference in the provision for income taxes for the six months ended June 30, 2016 and 2017 primarily resulted from the change of tax status of our PRC subsidiary Weibo Technology. Weibo Technology is qualified as a software enterprise and thus was exempted from income tax in 2016 and enjoyed a reduced tax rate at 12.5% in 2017.

Liquidity and Capital Resources

Cash Flows

        The following table sets forth the movements of our cash and cash equivalents for the periods presented:

	Year Ended December 31,									Six Months Ended June 30,
	2014			2015			2016			2016			2017
	(in $ thousands)
Net cash provided by (used in) operating activities		(19,412	)		181,971			236,244			64,101			229,666
Net cash provided by (used in) investing activities		13,917			(228,310	)		(96,745	)		(170,469	)		(442,244	)
Net cash provided by financing activities		43,663			4,959			3,035			2,092			63,449
Effect of exchange rate changes on cash and cash equivalents		(2,402	)		(6,045	)		(15,208	)		(3,222	)		8,443
Net increase (decrease) in cash and cash equivalents		35,766			(47,425	)		127,326			(107,498	)		(140,686	)
Cash and cash equivalents at the beginning of the year/period		249,099			284,865			237,440			237,440			364,766
Cash and cash equivalents at the end of the year/period		284,865			237,440			364,766			129,942			224,080

        As of December 31, 2016 and June 30, 2017, our total cash, cash equivalents and short-term investments were $396.0 million and $609.2 million, respectively. Our principal sources of liquidity have been cash from operations.

        We believe that our existing cash, cash equivalents and short-term investments balance are sufficient to fund our operating activities, capital expenditures and other obligations for at least the next twelve months. However, we may decide to enhance our liquidity position or increase our cash reserve for future expansions and acquisitions through additional capital and/or finance funding. The issuance and sale of additional equity would result in further dilution to our shareholders. The incurrence of indebtedness would result in increased fixed obligations and could result in operating

12

covenants that would restrict our operations. We cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all.

        In utilizing the cash that we hold offshore, we may (i) make additional capital contributions to our PRC subsidiary, (ii) establish new PRC subsidiaries and make capital contributions to these new PRC subsidiaries, (iii) make loans to our PRC subsidiaries, or (iv) acquire offshore entities with business operations in China in offshore transactions. However, most of these uses are subject to PRC regulations and/or approvals. For example, loans by us to our PRC subsidiary, which is a foreign-invested enterprise, to finance its activities cannot exceed statutory limits and must be registered with SAFE or its local branches. See "Item 4.B. Information on the Company—Business Overview—Regulation—Regulations on Foreign Exchange" of our 2016 Annual Report.

        Substantially all of our future revenues are likely to continue to be in the form of RMB. Under existing PRC foreign exchange regulations, payments of current account items, including profit distributions, interest payments and trade and service-related foreign exchange transactions, can be made in foreign currencies without prior SAFE approval as long as certain routine procedural requirements are fulfilled. Therefore, our PRC subsidiary is allowed to pay dividends in foreign currencies to us without prior SAFE approval by following certain routine procedural requirements. However, approval from or registration with competent government authorities is required where the RMB is to be converted into foreign currency and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies. The PRC government may at its discretion restrict access to foreign currencies for current account transactions in the future. See "Risk Factors—Risks Relating to Doing Business in China—Restrictions on the remittance of RMB into and out of China and governmental control of currency conversion may limit our ability to pay dividends and other obligations, and affect the value of your investment."

Operating Activities

        Net cash provided by operating activities for the six months ended June 30, 2017 was $229.7 million. The difference between net cash provided by operating activities and net income of $119.8 million for the six months ended June 30, 2017 was primarily due to an increase of $41.7 million in accrued and other liabilities, an increase of $36.2 million in accounts payable, an increase of $19.5 million in amount due to SINA, an increase of $9.8 million in deferred revenues, a decrease of $5.1 million in accounts receivable due from Alibaba, a non-cash charge of $22.6 million in stock-based compensation, $6.9 million in depreciation and amortization, partially offset by an increase of $23.4 million in accounts receivable due from third parties, and an increase of $9.0 million in prepaid expenses and other currents assets. The increase in accrued and other liabilities included increased payable for turnover taxes and income taxes withheld for employees, increased payable for sales rebate, and increased payable for marketing and promotional expenses. The increase in accounts payable was primarily due to the increased payable for income tax expense. The increase in accounts receivable was in line with our revenue growth.

Investing Activities

        Net cash used in investing activities for the six months ended June 30, 2017 was $442.2 million. This was primarily due to the purchase of short-term investments of $347.7 million, loan to SINA of $59.5 million, investment and prepayment in long-term investments of $29.3 million, and purchases of property and equipment of $6.9 million, partially offset by the maturity of short-term investments of $1.2 million.

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Financing Activities

        Net cash provided by financing activities for the six months ended June 30, 2017 was $63.4 million. This consisted of loan from SINA of $62.0 million and proceeds from the exercise of employee stock options of $1.4 million.

Holding Company Structure

        Weibo Corporation is a holding company that conducts its operations primarily through Weibo Technology, Weimeng, Weibo Interactive and their subsidiaries, all of which are incorporated in China. As a result, our ability to pay dividends depends upon dividends paid to us by Weibo Technology, our PRC subsidiary. If Weibo Technology or any newly formed subsidiaries of our company incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us. In addition, Weibo Technology is permitted to pay dividends to us only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. Under the PRC law, each of Weibo Technology, Weimeng and Weibo Interactive is required to set aside at least 10% of its after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital. In addition, each of Weibo Technology, Weimeng and Weibo Interactive may allocate a portion of its after-tax profits based on PRC accounting standards to staff welfare and bonus funds, a discretionary surplus fund and an enterprise expansion fund at its discretion or in accordance with its articles of association. These reserve funds and staff welfare and bonus funds are not distributable as cash dividends. As of June 30, 2017, the amount restricted, including paid-in capital, as determined in accordance with PRC accounting standards and regulations, was approximately $237.0 million. Although Weibo Technology has generated accumulated profits since 2015, it has not paid dividends in the past and we currently have no plans to pay any dividend and plans to reinvest its profits into its PRC operations.

Capital Expenditures

        Our capital expenditures primarily consist of purchases of servers, computers and other office equipment. Our capital expenditures were $6.9 million in the six months ended June 30, 2017. We will continue to make capital expenditures to meet the expected growth of our business and we intend to fund these purchases in the future with existing cash balance.

Tabular Disclosure of Contractual Obligations

        The following table sets forth our contractual obligations as of June 30, 2017:

	Payments Due by Period
	Total		Less than One Year		One to Three Years		Three to Five Years		More Than Five Years
	(In $ thousands)
Operating leases obligations		37,524		8,728		16,505		12,291		—
Purchase commitments		279,429		242,570		36,759		100		—
Total contractual obligations		316,953		251,298		53,264		12,391		—

        Operating lease obligations consist of the commitments under the lease agreements for our office premises. We lease our office facilities under non-cancelable operating leases with various expiration dates through 2022. Our leasing expense was $4.8 million in the six months ended June 30, 2017. The majority of our operating lease commitments are related to our office lease agreements in China.

        Purchase obligations primarily consist of minimum commitments for internet connection and marketing activities.

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Cautionary Statement Regarding Forward Looking Statements

        Certain statements in this management's discussion and analysis of financial condition and results of operations contain forward-looking statements that relate to, among other things, Weibo's expected financial performance and strategic and operational plans. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. 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. Potential risks and uncertainties include, but are not limited to, Weibo's limited operating history in certain new businesses; failure to grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly operating results; the Company's reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company's investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in our 2016 Annual Report and other filings with the SEC. All information provided in this management's discussion and analysis of financial condition and results of operations is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

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Exhibit 99.2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

EX-99.3

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Exhibit 99.3

Weibo Announces Selected Results for the Quarter Ended September 30, 2017

        BEIJING, China—October 24, 2017—Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB), a leading social media in China, today announced its selected unaudited financial results for the fiscal quarter ended September 30, 2017. For the third quarter of 2017:

•

Weibo's total revenues were $320.0 million, consisting of advertising and marketing revenues of $276.8 million and other revenues of $43.2 million. Advertising and marketing revenues from small & medium-sized enterprises and key accounts were $251.5 million. Advertising and marketing revenues from Alibaba were $25.3 million;

•

Net income attributable to Weibo was $101.1 million;

•

Non-GAAP net income attributable to Weibo was $115.2 million; and

•

Adjusted EBITDA was $135.9 million.

        Non-GAAP net income attributable to Weibo excludes stock-based compensation, amortization of intangible assets, net gain on the sale of investments and impairment on investments, non-GAAP to GAAP reconciling items for the loss attributable to non-controlling interest, and provision for income tax related to the amortization of intangible assets.

        Adjusted EBITDA excludes stock-based compensation, amortization of intangible assets, net gain on the sale of investments and impairment on investments, non-GAAP to GAAP reconciling items for the loss attributable to non-controlling interest, provision for income tax related to the amortization of intangible assets, interest income, net, income tax expenses, and depreciation expenses.

        Reconciliations of the above non-GAAP financial measures to the nearest comparable GAAP measures are set forth in the section below titled "Unaudited Reconciliation of Non-GAAP to GAAP Results."

        The Company plans to report more detailed unaudited financial results for the third quarter of 2017 in November 2017.

Safe Harbor Statement

        This press release contains forward-looking statements. Weibo may also make forward-looking statements in the Company's periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. 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. Potential risks and uncertainties include, but are not limited to, Weibo's limited operating history in certain new businesses; failure to grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly operating results; the Company's reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company's investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo's annual report on Form 20-F for the fiscal year ended December 31, 2016 filed with the SEC on April 27, 2017 and other filings with the

SEC. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

About Weibo Corporation

        Weibo is a leading social media for people to create, share and discover Chinese-language content. It provides an unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others and stay connected with the world. Any user can post a feed and attach multi-media or long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

        Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to its customers, ranging from large companies to small and medium-sized enterprises to individuals. The Company generates a substantial majority of revenues from the sale of advertising and marketing services, including the sale of social display ads and promoted feeds. Weibo has developed and is continuously refining its social interest graph recommendation engine, which enables its customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Contact:

Investor Relations
Weibo Corporation
Phone: +86 10 5898-3017
Email: ir@staff.weibo.com

2

WEIBO CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

	Three Months Ended September 30,
	2016			2017
	(in $ thousands)
Reconciliation of Net Income Attributable to Weibo to Non-GAAP Net Income Attributable to Weibo and Adjusted EBITDA:
Net Income Attributable to Weibo		32,102			101,129
Stock-based compensation		11,388			13,376
Amortization of intangible assets		160			161
Net gain on the sale of investments and impairment on investments		11,087			680
Non-GAAP to GAAP reconciling items for the loss attributable to non-controlling interests		(101	)		(113	)
Provision for income tax related amortization of intangible assets		(40	)		(40	)
Non-GAAP Net Income Attributable to Weibo		54,596			115,193
Interest income, net		(2,201	)		(5,131	)
Income tax expenses		1,957			22,062
Depreciation expenses		3,312			3,733
Adjusted EBITDA (Non-GAAP)		57,664			135,857

3

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Exhibit 99.3

Weibo Announces Selected Results for the Quarter Ended September 30, 2017
WEIBO CORPORATION UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

EX-99.4

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Exhibit 99.4

Weibo Corporation Announces Proposed Offering of US$700 Million Convertible Senior Notes

        BEIJING, CHINA, October 24, 2017—Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB), a leading social media in China, today announced that it proposes to offer up to US$700 million in aggregate principal amount of convertible senior notes due 2022 (the "Notes") (the "Offering"). The conversion rate and other terms of the Notes have not been finalized and will be determined at the time of pricing of the Offering. The Company intends to grant the initial purchasers in the Offering a 30-day option to purchase up to an additional US$100 million principal amount of the Notes. The Offering is subject to market conditions and other factors.

        The Notes will be convertible into Weibo's ADSs, at the option of the holders, in integral multiples of US$1,000 principal amount, at any time prior to the close of business on the second business day immediately preceding the maturity date. Weibo will not have the right to redeem the Notes prior to maturity except in the event of certain tax law changes.

        The Company plans to use the net proceeds of the Offering for general corporate purposes, including working capital needs and potential acquisitions of complementary businesses.

        The Notes, the ADSs deliverable upon conversion of the Notes and the Class A ordinary shares represented thereby have not been registered under the Securities Act of 1933, or any state securities laws. They may not be offered or sold within the United States or to U.S. persons, except to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and/or to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

        This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

        This press release contains information about the pending offering of the Notes, and there can be no assurance that the offering will be completed.

Safe Harbor Statement

        This press release contains forward-looking statements. Weibo may also make forward-looking statements in the Company's periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. 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. Potential risks and uncertainties include, but are not limited to, Weibo's limited operating history in certain new businesses; failure to grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly operating results; the Company's reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company's investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo's annual report on Form 20-F for the fiscal year ended December 31, 2016 filed with the SEC on April 27, 2017 and other filings with the

SEC. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

About Weibo Corporation

        Weibo is a leading social media for people to create, share and discover Chinese-language content. It provides an unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others and stay connected with the world. Any user can post a feed and attach multi-media or long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

        Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to its customers, ranging from large companies to small and medium-sized enterprises to individuals. The Company generates a substantial majority of revenues from the sale of advertising and marketing services, including the sale of social display ads and promoted feeds. Weibo has developed and is continuously refining its social interest graph recommendation engine, which enables its customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Contact:

Investor Relations
Weibo Corporation
Phone: +86 10 5898-3017
Email: ir@staff.weibo.com

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Exhibit 99.4

Weibo Corporation Announces Proposed Offering of US$700 Million Convertible Senior Notes

XML

Document and Entity Information	6 Months Ended
	Jun. 30, 2017
Document and Entity Information
Entity Registrant Name	WEIBO Corp
Entity Central Index Key	0001595761
Document Type	6-K
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2

XML

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 224,080	$ 364,766
Short-term investments	385,105	31,188
Accounts receivable due	134,673	116,054
Prepaid expenses and other current assets	70,485	66,664
Total current assets	875,703	597,237
Property and equipment, net	25,924	22,816
Intangible assets, net	811	1,100
Goodwill	10,662	10,266
Long-term investments	419,711	399,933
Other assets	10,553	5,592
Total assets	1,343,364	1,036,944
Current liabilities (including amounts of the consolidated VIE without recourse to the primary beneficiaries of $137,256 and $160,778 as of December 31, 2016 and June 30, 2017, respectively.)
Accounts payable	86,565	48,997
Accrued and other liabilities	220,980	180,142
Deferred revenues	58,971	48,964
Total current liabilities	430,232	278,103
Long-term liabilities
Long-term deferred revenues	476	666
Other long-term liabilities	758	817
Total long-term liabilities	1,234	1,483
Total liabilities	431,466	279,586
Commitments and contingencies (Note 13)
Shareholders' equity:
Ordinary shares: $0.00025 par value; 2,400,000 and 2,400,000 shares (including 1,800,000 Class A ordinary shares, 200,000 Class B ordinary shares and 400,000 shares to be designated) authorized; 218,076 and 221,217 shares (including 112,296 Class A ordinary shares and 108,921 Class B ordinary shares) issued and outstanding as of December 31, 2016 and June 30, 2017, respectively.	56	55
Additional paid-in capital	1,003,823	979,805
Accumulated other comprehensive loss	(16,310)	(26,994)
Accumulated deficit	(79,162)	(199,641)
Total Weibo shareholders' equity	908,407	753,225
Non-controlling interests	3,491	4,133
Total shareholders' equity	911,898	757,358
Total liabilities and shareholders' equity	1,343,364	1,036,944
Third parties
Current assets:
Accounts receivable due	80,929	61,655
Alibaba
Current assets:
Accounts receivable due	19,187	24,293
Other related parties
Current assets:
Accounts receivable due	34,557	30,106
Amount due from related party	34,600	30,100
SINA
Current assets:
Matching loan to SINA (Note 9)	61,360
Amount due from related party		$ 18,565
Current liabilities (including amounts of the consolidated VIE without recourse to the primary beneficiaries of $137,256 and $160,778 as of December 31, 2016 and June 30, 2017, respectively.)
Matching loan from SINA (Note 9)	60,831
Amount due to SINA	$ 2,885

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UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands	Jun. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 8,429,000	$ 6,529,000
Current liabilities	$ 430,232,000	$ 278,103,000
Ordinary shares, par value (in dollars per share)	$ 0.00025	$ 0.00025
Ordinary shares, shares authorized	2,400,000	2,400,000
Ordinary shares, shares issued	221,217	218,076
Ordinary shares, shares outstanding	221,217	218,076
Class A ordinary shares
Ordinary shares, shares authorized	1,800,000	1,800,000
Ordinary shares, shares issued	112,296
Ordinary shares, shares outstanding	112,296
Class B ordinary shares
Ordinary shares, shares authorized	200,000	200,000
Ordinary shares, shares issued	108,921
Ordinary shares, shares outstanding	108,921
Ordinary shares to be designated
Ordinary shares, shares authorized	400,000	400,000
Consolidated VIEs without recourse to the primary beneficiaries
Current liabilities	$ 160,778,000	$ 137,256,000
Alibaba
Allowance for doubtful accounts	0	0
Other related parties
Allowance for doubtful accounts	1,519,000	1,483,000
Third parties
Allowance for doubtful accounts	$ 6,910,000	$ 5,046,000

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Advertising and marketing revenues
Third parties	$ 310,453	$ 170,743
Total advertising and marketing revenues	387,637	226,419
Other revenues	64,937	39,756
Total revenues	452,574	266,175
Costs and Expenses
Cost of revenues	96,822	77,283
Sales and marketing	106,526	62,207
Product development	84,719	74,545
General and administrative	20,686	17,738
Total costs and expenses	308,753	231,773
Income from operations	143,821	34,402
Gain (loss) from equity method investments	210	(61)
Realized gain from investments	14	534
Investment related impairment	(1,384)	(4,842)
Interest and other income, net	4,780	3,892
Income before income tax expenses	147,441	33,925
Provision of income taxes	27,679	2,344
Net income	119,762	31,581
Less: Net loss attributable to non-controlling interests	(717)	(1,374)
Net income attributable to Weibo	120,479	32,955
Other comprehensive income (loss)
Currency translation adjustments (net of tax of nil and nil for the six months ended June 30, 2016 and 2017, respectively)	11,660	(5,337)
Available-for-Sale securities
Change in unrealized loss from available-for-sale securities (net of tax of nil and nil for the six months ended June 30, 2016 and 2017, respectively)	(901)	(1,659)
Total comprehensive income	130,521	24,585
Less: Comprehensive loss attributable to non-controlling interests	(642)	(1,502)
Comprehensive income attributable to Weibo	$ 131,163	$ 26,087
Shares used in computing net income per share attributable to Weibo:
Basic (in shares)	219,281	212,903
Diluted (in shares)	224,955	220,780
Income per share:
Basic (in dollars per share)	$ 0.55	$ 0.15
Diluted (in dollars per share)	$ 0.54	$ 0.15
Alibaba
Advertising and marketing revenues
Related party	$ 20,987	$ 23,969
SINA and other related parties
Advertising and marketing revenues
Related party	$ 56,197	$ 31,707

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Currency translation adjustments, tax	$ 0	$ 0
Change in unrealized loss from available-for-sale securities, tax	$ 0	$ 0

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Ordinary Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Non-controlling Interests	Total
Balance at Dec. 31, 2015	$ 53	$ 938,922	$ (10,635)	$ (307,668)	$ 7,357	$ 628,029
Balance (in shares) at Dec. 31, 2015	212,177
Increase (Decrease) in Shareholders' Equity (Deficit)
Issuance of ordinary shares pursuant to stock plan	$ 1	2,034				2,035
Issuance of ordinary shares pursuant to stock plan (in shares)	2,625
Non-cash stock-based compensation		15,795				15,795
Net income (loss)				32,955	(1,374)	31,581
Currency translation adjustments			(5,209)		(128)	(5,337)
Net change in other comprehensive loss from available-for-sale securities			(1,659)			(1,659)
Balance at Jun. 30, 2016	$ 54	956,751	(17,503)	(274,713)	5,855	670,444
Balance (in shares) at Jun. 30, 2016	214,802
Balance at Dec. 31, 2016	$ 55	979,805	(26,994)	(199,641)	4,133	$ 757,358
Balance (in shares) at Dec. 31, 2016	218,076					218,076
Increase (Decrease) in Shareholders' Equity (Deficit)
Issuance of ordinary shares pursuant to stock plan	$ 1	1,392				$ 1,393
Issuance of ordinary shares pursuant to stock plan (in shares)	3,141
Non-cash stock-based compensation		22,626				22,626
Net income (loss)				120,479	(717)	119,762
Currency translation adjustments			11,585		75	11,660
Net change in other comprehensive loss from available-for-sale securities			(901)			(901)
Balance at Jun. 30, 2017	$ 56	$ 1,003,823	$ (16,310)	$ (79,162)	$ 3,491	$ 911,898
Balance (in shares) at Jun. 30, 2017	221,217					221,217

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 119,762	$ 31,581
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,922	7,018
Stock-based compensation	22,626	15,795
Provision for allowance for doubtful accounts	4,086	1,252
Deferred income tax benefits	(59)	(129)
(Gain) Loss from equity method investments	(210)	61
Gain on sale of investments	(14)	(328)
Investment related impairment	1,384	4,842
Changes in assets and liabilities:
Accounts receivable due from third parties	(23,360)	(24,809)
Prepaid expenses and other current assets	(8,992)	(11,757)
Other assets	(228)	282
Accounts payable	36,157	(8,187)
Accrued and other liabilities	41,670	17,388
Deferred revenues	9,817	(3,539)
Net cash provided by operating activities	229,666	64,101
Cash flows from investing activities:
Purchases of short-term investments	(347,676)	(169,625)
Maturities of short-term investments	1,223	1,224
Investment and prepayment in long-term investments	(29,338)	(7,425)
Proceeds from disposal/refund of long-term investments	14	10,884
Purchases of property and equipment	(6,933)	(5,527)
Net cash used in investing activities	(442,244)	(170,469)
Cash flows from financing activities:
Proceeds from employee options exercised	1,449	2,092
Net cash provided by financing activities	63,449	2,092
Effect of exchange rate changes on cash and cash equivalents	8,443	(3,222)
Net decrease in cash and cash equivalents	(140,686)	(107,498)
Cash and cash equivalents at the beginning of the period	364,766	237,440
Cash and cash equivalents at the end of the period	224,080	129,942
Supplemental disclosure of cash flow information
Cash paid for income tax	(7,988)	(3,383)
Supplemental schedule of non-cash investing and financing activities
Property and equipment in accounts payable	3,569	724
Alibaba
Changes in assets and liabilities:
Accounts receivable due from Alibaba	5,106	31,687
Other related parties
Changes in assets and liabilities:
Accounts receivable due from other related parties	(4,451)	(2,485)
SINA
Changes in assets and liabilities:
Amount due to SINA	19,450	$ 5,429
Cash flows from investing activities:
Loan to SINA	(59,534)
Cash flows from financing activities:
Loan from SINA	$ 62,000

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Operations

6 Months Ended

Jun. 30, 2017

Operations

Operations

1. Operations

        Weibo Corporation ("Weibo" or the "Company") is a leading social media for people to create, share and discover Chinese-language content. It provides an unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world. As a microcosm of the Chinese society and a cultural phenomenon in China, Weibo allows people to be heard publicly and exposed to the rich ideas, cultures and experiences of the broader world. Media outlets use Weibo as a source of news and a distribution channel for their headline news. Government agencies and officials use Weibo as an official communication channel for disseminating information timely and gauging public opinion to improve public services. Charities use Weibo to make the world a better place by launching charitable projects, seeking donations and volunteers and leveraging celebrities and organizations on Weibo to amplify their impact to society. Weibo generates its revenues mostly from advertising and marketing services, as well as from other services, including game-related services, VIP membership and data licensing.

        Incorporated in the Cayman Islands, Weibo Corporation is a controlled subsidiary of Sina Corporation (the "Parent" or "SINA"). In April 2014, the Company completed an initial public offering (the "IPO") with the new issuance of 19,320,000 Class A ordinary shares and received $306.5 million in net proceeds. Immediately prior to the completion of the IPO, all the ordinary shares held by SINA was converted into an equal number of the Class B ordinary shares, all the ordinary shares held by other shareholders was converted into an equal number of the Class A ordinary shares, and all of its outstanding preferred shares were automatically converted into 30,046,154 Class A ordinary shares. The call option held by a subsidiary of Alibaba Group was exercised to purchase 29,990,778 Class A ordinary shares from SINA and the Company. Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to three votes per share. Each Class B ordinary share can be converted into one Class A ordinary share at any time, while Class A ordinary shares cannot be converted into Class B ordinary shares.

Consolidation

        The unaudited interim condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and its variable interest entities ("VIE"), of which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated. Weibo Corporation, its subsidiaries, VIE and VIE's subsidiaries together are referred to as "the Group."

        The following sets forth the Company's major subsidiaries, VIE and VIE's subsidiary:

Company	Date of Incorporation	Place of Incorporation	Percentage of Direct/ Indirect Economic Interest
Major Subsidiaries*
Weibo Hong Kong Limited ("Weibo HK")	July 19, 2010	Hong Kong		100	%
Weibo Internet Technology (China) Co., Ltd. ("Weibo Technology" or "the WFOE")	October 11, 2010	PRC		100	%
Major VIE and VIE's subsidiary
Beijing Weimeng Technology Co., Ltd ("Weimeng")	August 9, 2010	PRC		100	%
Beijing Weibo Interactive Internet Technology Co., Ltd. ("Weibo Interactive")	Acquired in May 2013	PRC		100	%

*         Weibo HK is a wholly owned subsidiary of Weibo Corporation, and Weibo Technology is a wholly owned subsidiary of Weibo HK.

        To comply with PRC laws and regulations, the Group provides a substantial amount of its services in China via the VIE, which holds critical operating licenses that enable the Group to do business in China. Most of the Group's revenues, costs and net income in China were generated directly or indirectly through the VIE. The Company, through its subsidiary, has signed various agreements with the VIE to allow the transfer of economic benefits from the VIE to the Company. The Group has determined that it is the primary beneficiary of the VIE through Weibo Technology's contractual arrangements with the VIE. Accordingly, the Company has consolidated the VIE's results of operations and assets and liabilities in the Group's unaudited interim condensed consolidated financial statements pursuant to the United States Generally Accepted Accounting Principles ("US GAAP") for all the periods presented.

        Shareholders of the VIE are certain nominee shareholders of the Company or SINA. The capital for their investments in the VIE is funded by the Company and recorded as interest-free loans to these individuals. These loans were eliminated with the capital of the VIE during consolidation. Each shareholder of the VIE has agreed to transfer his equity interest in the VIE to Weibo Technology when permitted by PRC laws and regulations or to designees of the Company at any time for the amount of loans outstanding. All voting rights of the VIE, including without limitation the right to appoint all directors of the VIE, have been assigned to Weibo Technology. Weibo Technology has also entered into exclusive technical service agreements with the VIE under which Weibo Technology provides technical and other services to the VIE in exchange for substantially all net income of the VIE. In addition, the shareholders of the VIE have pledged their shares in the VIE as collateral for the non-payment of loans or for the technical and other services fees due to Weibo Technology.

        The following table sets forth the assets, liabilities, results of operations and cash flows of the VIE and VIE's subsidiaries taken as a whole, which are included in the Group's unaudited interim condensed consolidated balance sheets and statements of comprehensive income:

	As of
	December 31,		June 30,
	2016		2017
	(In thousands)
Total assets	$	276,330	$	331,368
Total liabilities	$	308,990	$	360,379

	Six Months ended June 30,
	2016		2017
	(In thousands)
Net revenues	$	207,859	$	353,776
Net income (loss)	$	(11,356)	$	4,528

	Six Months ended June 30,
	2016			2017
	(In thousands)
Net decrease in cash and cash equivalents	$	(77,377	)	$	(22,417	)

        Under the contractual arrangements with the VIE, the Company has the power to direct activities of the VIE through Weibo Technology and can have assets transferred freely out of the VIE without restrictions. Therefore, the Company considers that there is no asset of the VIE that can only be used to settle obligations of the VIE and VIE's subsidiaries, except for the registered capital and non-distributable reserve funds of the VIE and VIE's subsidiaries, amounting to $56.2 million and $56.2 million as of December 31, 2016 and June 30, 2017, respectively. Since the VIE is incorporated as limited liability company under the PRC Company Law, creditors of the VIE do not have recourse to the general credit of the Company. There is currently no contractual arrangement that would require the Company to provide additional financial support to the VIE. As the Company is conducting certain businesses mainly through the VIE, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss.

        Unrecognized revenue-producing assets held by the VIE include the Internet Content Provision License, the Online Culture Operating Permit, and the domain names of Weibo.com, Weibo.cn and Weibo.com.cn. Recognized revenue-producing assets held by the VIE include customer lists relating to game-related services, game platform technology and a non-compete agreement, which were acquired mostly through acquisitions. Unrecognized revenue-producing assets, including customer lists relating to advertising and marketing services, game-related services, VIP membership and data licensing, as well as trademarks, are also held by Weibo Technology.

        The following is a summary of the VIE agreements:

        Loan Agreements.    The Company's wholly owned subsidiary Weibo Technology has granted interest-free loans to each shareholder of the VIE with the sole purpose of providing funds necessary for capital injection into the VIE. The terms of the loans are for ten years, and Weibo Technology has the right to, at its own discretion, shorten or extend the terms of the loans, if necessary. These loans were eliminated with the capital of the VIE during consolidation.

        Share Transfer Agreements.    Each shareholder of the VIE has granted Weibo Technology an option to purchase his shares in the VIE at a purchase price equal to the amount of the capital injection. Weibo Technology may exercise such option at any time until it has acquired all of the shares of the VIE, subject to applicable PRC laws. The option will be effective until the earlier of (i) the shareholders of the VIE and Weibo Technology have fully performed their obligations under this agreement, and (ii) the respective shareholders of the VIE and Weibo Technology agree to terminate the share transfer agreement in writing.

        Loan Repayment Agreements.    Each shareholder of the VIE has agreed with Weibo Technology that the interest-free loans under the loan agreements shall only be repaid through share transfer. Once the share transfers are completed, the purchase price for the share transfer will be set off against the loan repayment.

        Agreements on Authorization to Exercise Shareholder's Voting Power.    Each shareholder of the VIE has authorized Weibo Technology to exercise all his voting power as a shareholder of the VIE on all matters requiring shareholders' approval under PRC laws and regulations and the articles of association of the VIE, including without limitation to the appointment of directors, transfer, mortgage or dispose of the VIE's assets, transfer of any equity interest in the VIE, and merger, split, dissolution and liquidation of the VIE. The authorizations are irrevocable and will not expire until the VIE dissolves.

        Share Pledge Agreements.    Each shareholder of the VIE has pledged all of his shares in the VIE and all other rights relevant to the share rights to Weibo Technology, as a collateral security for his obligations to pay off all debts to Weibo Technology, under the loan agreement and for the payment obligations of the VIE under the trademark license agreement and the technical services agreement. In the event of default of any payment obligations, Weibo Technology will be entitled to certain rights, including transferring the pledged shares to itself and disposing the pledged shares through sale or auction. During the term of each agreement, Weibo Technology is entitled to receive all dividends and distributions paid on the pledged shares. The pledges will be effective until the earlier of (i) the VIE and the shareholders of the VIE have fully performed their obligations under the above-referred agreements, and (ii) Weibo Technology unilaterally consents to terminate the respective share pledge agreement.

        Exclusive Technical Services Agreement, Exclusive Sales Agency Agreement and Trademark License Agreement.    The VIE has entered into an exclusive technical services agreement, an exclusive sales agency agreement and a trademark license agreement with Weibo Technology. Under the exclusive technical services agreement, Weibo Technology is engaged to provide technical services for the VIE's online advertising and other related businesses. Under the exclusive sales agency agreement, the VIE has granted Weibo Technology the exclusive right to distribute, sell and provide agency services for all the products and services provided by the VIE. The term of the technical service agreement and the sales agency agreement will not expire until the VIE dissolves.

        Due to its control over the VIE, Weibo Technology has the right to determine the service fee to be charged to the VIE under these agreements. By considering, among other things, the technical complexity of the service, the actual cost that may be incurred for providing such service, the operations of the VIE, applicable tax rates, planned capital expenditure and business strategies.

        Under the trademark license agreement, Weibo Technology has granted the VIE trademark licenses to use its trademarks for specific areas, and the VIE is obligated to pay license fees to Weibo Technology. The term of the agreement is for one year and is automatically renewed provided that there is no objection from Weibo Technology.

        The Company believes that the contractual arrangements among its subsidiary, VIE and VIE's shareholders are in compliance with the current PRC laws and legally enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company's ability to enforce these contractual arrangements. As a result, the Company may be unable to consolidate the VIE and VIE's subsidiaries in the unaudited interim condensed consolidated financial statements. The Company's ability to control the VIE also depends on the authorization by the shareholders of the VIE to exercise voting rights on all matters requiring shareholder approval in the VIE. The Company believes that the agreements on authorization to exercise shareholder's voting power are legally enforceable. In addition, if the legal structure and contractual arrangements with the VIE were found to be in violation of any future PRC laws and regulations, the Company may be subject to fines or other actions. The Company believes the possibility that it will no longer be able to control and consolidate the VIE will occur as a result of the aforementioned risks and uncertainties are remote.

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Significant Accounting Policies

6 Months Ended

Jun. 30, 2017

Significant Accounting Policies

Significant Accounting Policies

2. Significant Accounting Policies

Basis of presentation

        In the opinion of the Company, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2017, its results of operations and cash flows for the six months ended June 30, 2016 and 2017. The consolidated balance sheet at December 31, 2016, was derived from audited annual financial statements included in the Company's Annual Report on Form 20-F filed on April 27, 2017, but does not contain all of the footnote disclosures from the annual financial statements.

        The preparation of the Group's unaudited interim condensed consolidated financial statements is in conformity with US GAAP. The unaudited interim condensed consolidated financial statements include the accounts of Weibo, its wholly owned subsidiaries, VIE, and VIE's subsidiaries. All significant intercompany balances and transactions have been eliminated.

Use of estimates

        Conformity with US GAAP requires the use of estimates and judgments that affect the reported amounts in the unaudited interim condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments the management makes about the carrying values of the assets and liabilities, which are not readily apparent from other sources. GAAP requires making estimates and judgments in several areas, including, but not limited to, the basis of consolidation, revenue recognition, fair value accounting, income taxes, goodwill and other long-lived assets, allowances for doubtful accounts, stock-based compensation, and the estimated useful lives of assets. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates.

Revenue recognition

Advertising and marketing revenues

        Advertising and marketing revenues are derived principally from online advertising, including social display ads and promoted marketing. Social display ad arrangements allow customers to place advertisements on particular areas of the Group's platform in particular formats and over particular periods of time, which is typically no more than three months. The Group enters into cost per mille ("CPM"), or cost per thousand impressions, advertising arrangements with the customers, under which the Group recognizes revenues based on the number of times that the advertisement has been displayed. The Group also enters into cost per day ("CPD") advertising arrangements with customers, under which the Group recognizes revenues ratably over the contract periods.

        Revenues are recognized only when the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) the price is fixed or determinable; (3) the service is performed; and (4) collectability of the related fee is reasonably assured. The majority of the Group's revenue transactions are based on standard business terms and conditions, which are recognized net of agency rebates. Advertising arrangements involving multiple deliverables are broken down into single-element arrangements based on their relative selling price for revenue recognition purposes. For multiple-deliverable revenue arrangements, it is required that the arrangement consideration to be allocated to all deliverables at the inception of the arrangement on the following basis: (a) vendor-specific objective evidence (VSOE) of selling price, if it exists, otherwise, (b) third-party evidence (TPE) of the selling price. If neither (a) nor (b) exists, then use (c) management's best estimate of the selling price of the deliverable. The Group primarily uses VSOE to allocate the arrangement consideration if such selling price is available. For the deliverables that have not been sold separately, the best estimate of the selling price (BESP) is used, which has taken into consideration of the pricing of advertising areas of the Group's platform with similar popularity and advertisements with similar format and quoted prices from competitors and other market conditions. Revenues recognized with reference to BESP were immaterial for all periods presented. The Group recognizes revenues on the elements delivered and defers the recognition of revenues for the undelivered elements until the remaining obligations have been satisfied.

        Revenues from barter transactions are recognized during the period in which the advertisements are displayed on the Group's properties. Barter transactions in which physical goods or services are received in exchange for advertising services are recorded based on the fair values of the goods or services received. Revenues from barter transactions were immaterial for all periods presented.

Other revenues

        The Group generates other revenues principally from fee-based services, including game-related services, VIP membership and data licensing. Revenues from these services are recognized over the periods in which the services are performed, provided that no significant obligations remain, collection of the receivable is reasonably assured and the amounts can be accurately estimated.

        Game-related services.    Game-related service revenues are mostly generated from the sale of virtual items from games operated by the Group. The Group collects payments from the game players in connection with the sale of virtual currency, which are converted into in-game credits (game tokens) that can be used to purchase virtual items in the third-party developed games. The Group remits certain predetermined percentages of the proceeds to the game developers when the virtual currency is converted into in-game credits.

        The Group has determined that the game developers are the primary obligors for the game-related service given that the game developers are responsible for developing, maintaining and updating the game related services and have reasonable latitude to establish the prices of virtual items for which in-game credits are used. The Group views the game developers to be its customers, and the Group's primary responsibility is to promote the games of the developers, provide virtual currency exchange service, maintain the platform for game players to easily access the games and offer customer support to resolve registration, log-in, currency exchange and other related issues. Accordingly, the Group records game-related revenue, net of predetermined revenue sharing with the game developers.

        Virtual currencies in general are not refundable once they have been sold unless there are unused in-game credits at the time a game is discontinued. Sale of virtual currencies net of the game developer proceeds are recognized as revenues over the estimated consumption period of in-game virtual items, which is typically from a few days to one month after the purchase of in-game credits.

        VIP membership.    VIP membership is a service package consisting of user certification and preferential benefits, such as daily priority listings and higher quota for following user accounts. Prepaid VIP membership fees are recorded as deferred revenue and recognized as revenue ratably over the contract period of the membership service.

        Data licensing.    The Group began to offer data licensing arrangements that allow its customers to access, search and analyze historical and real-time data on its platform. The data licensing arrangement is for a fixed period, typically one year, and such revenue is recognized ratably over the contract period.

Cost of revenues

        Cost of revenues consists mainly of costs associated with the maintenance of platform, which primarily include bandwidth and other infrastructure costs, labor cost and turnover taxes levied on the revenues, part of which were allocated from SINA. The Group presents taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction on a gross basis in the financial statements. The Group is subject to 6.7% Value-Added Tax ("VAT") and surcharges for its revenues and an additional 3% cultural business construction fees for its advertising and marketing revenues.

Sales and Marketing Expenses

        Sales and marketing expenses consist mainly of online and offline advertising and promotional expenses, salary, benefits and commission expenses, and facility expenses. Advertising and promotional expenses generally represent the expenses of promotions of corporate image and product marketing. The Group expenses all advertising and promotional expenses as incurred and classifies these expenses under sales and marketing expenses.

Product development expenses

        Product development expenses consist mainly of payroll-related expenses and infrastructure costs incurred for enhancement to and maintenance of the Group's platform, as well as costs associated with new product development and product enhancements, part of which were allocated from SINA. The Group expenses all costs incurred for the planning and post implementation phases of development and costs associated with repair or maintenance of the existing site or the development of platform content. Since inception, the amount of costs qualifying for capitalization has been immaterial and, as a result, all product development costs have been expensed as incurred.

Stock-based compensation

        All stock-based awards to employees and directors, such as stock options and restricted share units ("RSUs"), are measured at the grant date based on the fair value of the awards. Stock-based compensation, net of forfeitures, is recognized as expenses on a straight-line basis over the requisite service period, which is the vesting period.

        The Group uses the Black-Scholes option pricing model to estimate the fair value of stock options. The determination of estimated fair value of stock-based payment awards on the grant date using an option pricing model is affected by the fair value of the Company's ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and expected dividends, if any. Options granted generally vest over four years.

        The Group recognizes the estimated compensation cost of restricted share units based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term of generally four years for service-based restricted share units. The Group also recognizes the compensation cost of performance-based restricted share units, net of estimated forfeitures, according to the probability of performance goal achievement at the end of each reporting period.

        Forfeitures are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. The Group uses historical data to estimate pre-vesting option and records stock-based compensation expense only for those awards that are expected to vest. See Note 6 Stock-based Compensation for further discussion on stock-based compensation.

Taxation

Income taxes

        Income taxes are accounted for using the asset and liability approach. Under this approach, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry forwards. The Group records a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not.

Uncertain tax positions

        To assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement.

Operating leases

        The Group leases office space under operating lease agreements with initial lease terms ranging from one to five and a half years. Rental expense is recognized from the date of initial possession of the leased property on a straight-line basis over the term of the lease, part of which was allocated from SINA. Certain lease agreements contain rent holidays, which are recognized on a straight-line basis over the lease term. Lease renewal periods are considered on a lease-by-lease basis and are generally not included in the initial lease terms.

Cash equivalents

        The Group considers all highly liquid investments with original maturities of three months or less as cash equivalents. Cash equivalents are comprised of investments in time deposits stated at cost plus accrued interest.

Accounts receivable and allowances for doubtful accounts

        Accounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Group maintains an allowance for doubtful accounts which reflects its best estimate of amounts that will not be collected. The Group determines the allowance for doubtful accounts based on a historical, rolling average, bad debt rate in the prior period and other factors, such as credit-worthiness of the customers and the age of the receivable balances. The Group also provides specific provisions for bad debts when facts and circumstances indicate that the receivable is unlikely to be collected. If the financial condition of the Group's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional bad debt allowances may be required.

Fair value measurements

Financial instruments

        All financial assets and liabilities are recognized or disclosed at fair value in the unaudited interim condensed consolidated financial statements on a recurring basis. Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

        Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

•           Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

•           Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

•           Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

        The carrying amount of cash and cash equivalents, short-term investments, accounts receivable due from third parties, accounts receivable due from Alibaba, accounts receivable due from other related parties, matching loan to/from SINA, amount due from/to SINA, accounts payable, accrued and other liabilities approximates fair value because of their short-term nature. See Note 12 Financial Instruments for additional information.

Long-term investments

        Long-term investments are comprised of investments in publicly traded and privately held companies. For long-term investments over which the Group does not have significant influence, the cost method of accounting is used. For long-term investments in shares that are not common stock or in-substance common stock and that do not have readily determinable fair value, the cost method accounting is used. The Group uses the equity method to account for ordinary-share-equivalent equity investments over which it has significant influence but does not own a majority equity interest or otherwise control.

        The Group monitors its investments accounted for under the cost method and equity method for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the business, including current earnings trends, undiscounted cash flows, and other company-specific information, such as recent financing rounds. Determination of the fair value, particularly for investments in privately-held companies whose revenue model is unclear, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and the determination of whether any identified impairment is other-than-temporary. If any impairment is considered other-than-temporary, the Group will write down the asset to its fair value and take the corresponding charge to the unaudited interim condensed consolidated statements of comprehensive income.

        The Group invests in marketable equity securities to meet business objectives and intends to hold the securities for more than a year from the balance sheet date. These marketable securities are reported at fair value, classified and accounted for as available-for-sale ("AFS") securities under long-term investments. The treatment of a decline in the fair value of an individual security is based on whether the decline is other-than-temporary. The Group assesses its available-for-sale securities for other-than-temporary impairment by considering factors including, but not limited to, its ability and intent to hold the individual security, severity of the impairment, expected duration of the impairment and forecasted recovery of fair value. Investments classified as available-for-sale securities are reported at fair value with unrealized gains or losses, if any, recorded in accumulated other comprehensive loss in shareholders' equity. If the Group determines a decline in fair value is other-than-temporary, the cost basis of the individual security is written down to fair value as a new cost basis and the amount of unrealized loss recorded in accumulated other comprehensive loss will be reclassified to net income in the unaudited interim condensed consolidated statements of comprehensive income. The fair value of the investment would then become the new cost basis of the investment and is not adjusted for subsequent recoveries in fair value.

Long-lived assets

Property and equipment

        Property and equipment are stated at cost less accumulated depreciation, amortization and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally from three to four years for computers and equipment and five years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining lease term.

Goodwill

        Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Group's acquisitions of interests in its subsidiaries and consolidated VIE. The Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20 ("ASC 350-20"), Intangibles—Goodwill and Other: Goodwill, which requires that goodwill be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. US GAAP provides the option to apply the qualitative assessment first and then the quantitative assessment, if necessary, or to apply the quantitative assessment directly. The qualitative approach starts the goodwill impairment test by assessing qualitative factors, which by taking into consideration of macroeconomics, overall financial performance, industry and market conditions and the share price of the Group, to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If so, the quantitative impairment test is performed; otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of goodwill with its carrying value. For reporting units directly applying a quantitative assessment, the goodwill impairment test is quantitatively performed by comparing the fair values of those reporting units to their carrying amounts. The Group adopted the option to apply the qualitative approach to assess its goodwill on the relevant reporting units. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value of each reporting unit. Judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit.

Intangible assets other than goodwill

        Intangible assets arising from acquisitions are recognized at fair value upon acquisition and amortized on a straight-line basis over their estimated useful lives, generally from two to five years. Long-lived assets and certain identifiable intangible assets other than goodwill to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for long-lived assets and certain identifiable intangible assets that management expects to hold or use is based on the amount by which the carrying value exceeds the fair value of the asset. Judgment is used in estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the asset's fair value.

Deferred revenues

        Deferred revenues consist of contractual billings in excess of recognized revenue and payments received in advance of revenue recognition, which are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership.

Non-controlling interests

        For the Company's majority-owned subsidiaries and VIE, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. To reflect the economic interest held by non-controlling shareholders, net loss attributable to the non-controlling ordinary shareholders is recorded as non-controlling interests in the Company's unaudited interim condensed consolidated statements of comprehensive income. Non-controlling interests are classified as a separate line item in the equity section of the Company's unaudited interim condensed consolidated balance sheets and have been separately disclosed in the Company's unaudited interim condensed consolidated financial statements to distinguish the interests from that of the Company.

Foreign currency

        The Company's reporting currency and functional currency are the U.S. dollar. The Group's operations in China and in international regions use their respective currencies as their functional currencies. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average rates of exchange in the period for revenues, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income or loss as a component of shareholders' equity. Translation gains or losses are not released to net income unless the associated net investment has been sold, liquidated, or substantially liquidated.

        Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rate prevailing on the transactions dates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in interest and other income, net.

        Net foreign currency transaction gains or losses arise from transacting in a currency other than the functional currency of the entity and the amounts recorded were immaterial for each of the periods presented.

Net Income per share

        Basic net income per share is computed using the weighted average number of ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in computation of basic earnings per share. Diluted net income per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under treasury stock method. Potential ordinary shares include options to purchase ordinary shares and RSUs, unless they were anti-dilutive. The computation of diluted net income per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income per share. The Group uses the two-class method to calculate net income per share as both classes share the same rights in dividends. Therefore, basic and diluted earnings per share are the same for both classes of ordinary shares.

Segment reporting

        In accordance with ASC 280, Segment Reporting, the Group's chief operating decision maker ("CODM"), the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole. The Group currently operates and manages its business in two principal business segments globally—advertising and marketing services and other services. Information regarding the business segments provided to the Group's CODM is at the revenue level and the Group currently does not allocate operating costs or assets to its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments. As the Group's long-lived assets are substantially all located in the PRC and substantially the Group's revenues are derived from within the PRC, no geographical information is presented.

Concentration of risks

        Concentration of credit risk.    Financial instruments that potentially subject the Group to a concentration of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable. In addition, with the majority of its operations in China, the Group is subject to RMB currency risk and offshore remittance risk, both of which have been difficult to hedge and the Group has not done so. The Group limits its exposure to credit loss by depositing its cash and cash equivalents with financial institutions in the US, PRC and Hong Kong, which are among the largest and most respected with high ratings from internationally-recognized rating agencies, that management believes are of high credit quality. The Group periodically reviews these institutions' reputations, track records and reported reserves.

        As of December 31, 2016 and June 30, 2017, the Group had $393.6 million and $606.0 million, respectively, in cash and bank time deposits (with terms generally up to twelve months) with large domestic banks in China. China promulgated a Bankruptcy Law that came into effect on June 1, 2007, which contains a separate article expressly stating that the State Council may promulgate implementation measures for the bankruptcy of Chinese banks based on the Bankruptcy Law. Under the Bankruptcy Law, a Chinese bank may go bankrupt. In addition, since China's concession to WTO, foreign banks have been gradually permitted to operate in China and have become significant competitors to Chinese banks in many aspects, especially since the opening of RMB business to foreign banks in late 2006. Therefore, the risk of bankruptcy on Chinese banks in which the Group holds cash and bank deposits has increased. In the event that a Chinese bank that holds the Group's deposits goes bankrupt, the Group is unlikely to claim its deposits back in full, since it is unlikely to be classified as a secured creditor to the bank under the PRC laws.

        Alibaba accounted for 9% and 5% of the Group's total revenues for the six months ended June 30, 2016 and 2017, respectively. No customer nor advertising agency accounted for 10% or more of the Group's revenues. The Group's top 10 advertising agencies contributed to 22% and 24% of the Group's total revenues for the six months ended June 30, 2016 and 2017, respectively.

        As of December 31, 2016 and June 30, 2017, substantially all accounts receivable were derived from the Group's China operations. Excluding accounts receivable due from Alibaba and other related parties, accounts receivable primarily consists of amounts due from advertising agencies and direct customers. Alibaba accounted for 21% and 14%, respectively, of the Group's net accounts receivables as of December 31, 2016 and June 30, 2017, while one customer accounted for 15% and 13%, respectively, at the same dates.

        Concentration of foreign currency risks.    The majority of the Group's operations were in RMB. As of December 31, 2016 and June 30, 2017, the Group's cash, cash equivalents and short-term investments balance denominated in RMB was $335.7 million and $478.5 million, accounting for 85% and 79% of the Group's total cash, cash equivalents and short-term investments balance. As of December 31, 2016 and June 30, 2017, the Group's aggregate net accounts receivable balance (including accounts receivable due from third parties, Alibaba and other related parties) denominated in RMB was $115.3 million and $133.9 million, respectively, accounting for almost all of its net accounts receivable balance. As of December 31, 2016 and June 30, 2017, the Group's current liabilities balance denominated in RMB was $267.8 million and $355.9 million, accounting for 96% and 83% of its total current liabilities balance. Accordingly, the Group may experience economic losses and negative impacts on earnings and equity as a result of exchange rate fluctuations of the RMB. Moreover, the Chinese government imposes controls on the convertibility of the RMB into foreign currencies and, in certain cases, the remittance of currency out of the PRC. The Group may experience difficulties in completing the administrative procedures necessary to remit its RMB out of the PRC and convert it into foreign currency.

Recent accounting pronouncements

        In May 2014, the Financial Accounting Standards Board ("FASB") issued, ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)." The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles. In April 2015, the FASB proposed a one-year delay in the effective date and companies will be allowed to early adopt as of the original effective date. The Group plans to adopt the new revenue guidance beginning in the first quarter of fiscal year 2018. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Group currently anticipates adopting the standard using the modified retrospective method and the Group is still in the process of completing the analysis on the impact this guidance will have on its consolidated financial statements and related disclosures.

        In January 2016, the FASB issued updated guidance on financial instruments, ASU No. 2016-01, which intends to improve the recognition and measurement of financial instruments. Most prominent among the changes in the standard is the requirement for changes in the fair value of equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income. The Group plans to adopt the new guidance beginning in the first quarter of fiscal year 2018. Adoption of the standard will be applied through a cumulative-effect adjustment to retained earnings as of the effective date. The Group is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

        In February 2016, the FASB issued a new standard on leases, ASU No. 2016-02, which requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize a liability to make lease payments (the lease liability) and a right-of use representing its right to use the underlying asset for the lease term in the statements of financial position. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. This standard will be effective for the Group beginning the first quarter of fiscal year 2019. The Group is currently evaluating the impact that this new standard will have on its consolidated financial statements.

        In August 2016, the FASB issued ASU No. 2016-15, which clarifies and includes specific guidance to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption of the amendments is permitted. The amendments in this ASU should be applied using a retrospective transition method to each period presented. The Group will adopt the amendments in the fiscal year of 2018 and does not expect a significant impact on its consolidated financial statements from the new standard.

        In January 2017, the FASB issued ASU No. 2017-01, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted. The amendments should be applied prospectively on or after the effective date. No disclosures are required at transition. The Group will adopt the amendments in the fiscal year of 2018 and does not expect a significant impact on its consolidated financial statements from the new standard.

        In January 2017, the FASB issued ASU No. 2017-04, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value, which eliminates the current requirement to calculate a goodwill impairment charge by comparing the implied fair value of goodwill with its carrying amount. The amendments will be effective beginning the first quarter of fiscal year 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied on a prospective basis. The Group is currently evaluating the impact this new standard will have on its consolidated financial statements.

        In February 2017, the FASB issued ASU No. 2017-05, which clarifies the scope of guidance on nonfinancial asset derecognition (ASC 610-20) as well as the accounting for partial sales of nonfinancial assets. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted but must also early adopt the new revenue standard (ASC 606). The amendments should be applied on a full or modified retrospective basis. The Group will adopt the new standard effective January 1, 2018, and does not expect a significant impact on its consolidated financial statements.

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Cash, Cash Equivalents and Short-term Investments

6 Months Ended

Jun. 30, 2017

Cash, Cash Equivalents and Short-term Investments

Cash, Cash Equivalents and Short-term Investments

3. Cash, Cash Equivalents and Short-term Investments

        Cash, cash equivalents and short-term investments consist of the following:

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Cash and cash equivalents:
Cash	$	364,766	$	224,080
Short-term investments:
Bank time deposits		31,188		385,105
Total cash, cash equivalents and short-term investments	$	395,954	$	609,185

        The carrying amounts of cash, cash equivalents and short-term investments approximate fair value. Interest income was $3.2 million and $5.3 million for the six months ended June 30, 2016 and 2017, respectively. The maturity dates for the time deposits were within one year.

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Long-term Investments

6 Months Ended

Jun. 30, 2017

Long-term Investments

Long-term Investments

4. Long-term Investments

        Long-term investments comprised of investments in privately held and publicly traded companies. The following sets forth the changes in the Group's long-term investments:

	Cost Method			Equity Method			Available-for-Sale Securities			Total
	(In thousands)
Balance at December 31, 2016	$	390,330		$	4,329		$	5,274		$	399,933
Investments made		20,902			—			—			20,902
Gain from equity method investment		—			210			—			210
Dividend from equity method investment		—			(267	)		—			(267	)
Impairment on investments		(1,384	)		—			—			(1,384	)
Unrealized loss		—			—			(901	)		(901	)
Currency translation adjustment		1,111			107			—			1,218
Balance at June 30, 2017	$	410,959		$	4,379		$	4,373		$	419,711

        As of December 31, 2016 and June 30, 2017, investments accounted for under the cost method were $390.3 and $411.0 million, respectively. Investments were accounted for under the cost method if the Group had no significant influence or if the underlying shares were not considered in substance ordinary shares and had no readily determinable fair value.

        For the six months ended June 30, 2017, the Group made investments in private high-tech companies totaling $20.9 million, which were accounted for under the cost method. These investments were made, in general to expand and strengthen the Group's ecosystem.

        Investments in marketable securities are held as available-for-sale and reported at fair value due to changes in quoted market price. As of December 31, 2016 and June 30, 2017, the fair value of the AFS investment was $5.3 million and $4.4 million, respectively.

        The Group performs an impairment assessment on its investments regularly and determines whether investment impairment, if any, is other-than-temporary based on changes in quoted market price or other impairment indicators. For the six months ended June 30, 2016 and 2017, the Group recorded impairment charges of $4.1 million and $1.4 million, respectively, on the carrying value of its long-term investments, as a result of the investments not performing to expectation.

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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

        The following sets forth the changes in the Group's goodwill by segment:

	Advertising & Marketing		Other		Total
	(In thousands)
Balance as of December 31, 2016	$	—	$	10,266	$	10,266
Currency translation adjustment		—		396		396
Balance as of June 30, 2017	$	—	$	10,662	$	10,662

        As of December 31, 2016 and June 30, 2017, the balance of goodwill was $10.3 million and $10.7 million, respectively. The increase of its balance in the six months ended June 30, 2017 was mainly due to the appreciation of the Renminbi and was reflected in currency translation adjustment in unaudited interim condensed consolidated financial statements.

        As of June 30, 2017, the Group's intangible assets totaled $0.8 million, mainly consisted of acquired game-related platform technology and a non-compete agreement. The amortization expense for the six months ended June 30, 2016 and 2017 was $0.4 million and $0.3 million, respectively. As of June 30, 2017, estimated amortization expenses for future periods are expected as follows:

Twelve Months Ended June 30,	(In thousands)
2018	$	629
2019 and thereafter		182
Total expected amortization expense	$	811

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2017

Stock-Based Compensation

Stock-Based Compensation

6. Stock-Based Compensation

        In August 2010, the Company adopted the 2010 Share Incentive Plan (the "2010 Plan"), which has a term of ten years and permits the grant of options, share appreciation rights, restricted shares and restricted share units of the Company to employees, directors and consultants of the Company and its affiliates. Under the plan, a total of 35 million ordinary shares were initially reserved for issuance. The maximum number of ordinary shares available for issuance will be reduced by one share for every one share issued pursuant to a share option or share appreciation right and by 1.75 share for every one share issued as restricted shares or pursuant to a restricted shares unit. In March 2014, the 2010 Plan was terminated and all remaining shares were forwarded to the 2014 Plan.

        In March 2014, the Company adopted the 2014 Share Incentive Plan (the "2014 Plan"), which was funded by the remaining 4.6 million shares from the 2010 Plan plus an additional 1.0 million shares. On January 1, 2015, shares in the 2014 Plan, which have a term life of ten years, were allowed a one-time increase in the amount equal to 10% of the total number of Weibo shares issued and outstanding on a fully-diluted basis as of December 31, 2014. Each share in the 2014 Plan pool allows for a grant of a restricted share unit or option share. The Company intends to use such share incentive plan to attract and retain employee talent.

        The following table sets forth the stock-based compensation included in each of the relevant accounts:

	Six Months Ended June 30,
	2016		2017
	(In thousands)
Cost of revenues	$	1,051	$	1,635
Sales and marketing		1,918		3,761
Product development		6,056		10,245
General and administrative		6,770		6,985
	$	15,795	$	22,626

        Stock based compensation related to the grants were amortized generally over four years on a straight-line basis with $15.8 million and $22.6 million expensed for the six months ended June 30, 2016 and 2017, respectively.

        The following table sets forth a summary of the number of shares available for issuance:

	Shares Available
	(In thousands)
December 31, 2016		18,878
Addition		—
Granted*		(561	)
Cancelled/expired/forfeited		123
June 30, 2017		18,440

*         During the six months ended June 30, 2017, 0.6 million restricted share units and no options were granted under the 2014 Plan.

Stock Options

        The following table sets forth a summary of option activities under the Company's stock option program:

	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(In thousands)					(In years)		(In thousands)
December 31, 2016		2,587		$	1.41		1.6	$	101,403
Granted		—		$	—
Exercise		(1,744	)	$	0.80
Cancelled/expired/forfeited		(2	)	$	3.49
June 30, 2017		841		$	2.67		2.0	$	53,626
Vested and expected to vest as of June 30, 2017		835		$	2.66		2.0	$	53,287
Exercisable as of June 30, 2017		790		$	2.62		1.9	$	50,466

        The total intrinsic value of options exercised for the six months ended June 30, 2017 was $99.4 million. The intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the shares. As reported by the NASDAQ Global Selected Market, the Company's ending stock price as of December 31, 2016 and June 30, 2017 was $40.60 and $66.47, respectively. Cash received from the exercise of stock option during the six months ended June 30, 2016 and 2017 was $2.1 million and $1.4 million, respectively.

        As of June 30, 2017, unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested stock options granted to the Group's employees and directors was $0.4 million. Total unrecognized compensation cost is expected to be recognized over a weighted-average period of 0.4 years and may be adjusted for future changes in estimated forfeitures.

        Information regarding stock options outstanding at June 30, 2017 is summarized below:

Range of Exercise Prices	Options Outstanding		Weighted Average Exercise Price		Options Exercisable		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
	(In thousands)				(In thousands)				(In years)
$0.36 - $0.41		151	$	0.38		151	$	0.36		0.25
$0.96 - $1.80		69	$	0.97		69	$	0.97		0.75
$3.25 - $3.36		278	$	3.33		278	$	3.33		1.91
$3.43 - $3.50		343	$	3.48		293	$	3.48		3.10
		841	$	0.39		791	$	2.62		0.29

Restricted Share Units

Summary of Performance-Based Restricted Share Units

        The following table sets forth a summary of performance-based restricted share unit activities:

	Shares Granted			Weighted-Average Grant Date Fair Value
	(In thousands)
December 31, 2016		108		$	27.00
Awarded		155		$	50.45
Vested		(102	)	$	27.00
Cancelled		(10	)	$	34.74
June 30, 2017		151		$	50.48

        As of June 30, 2017, there was $5.0 million unrecognized compensation cost, adjusted for estimated forfeitures, related to performance-based restricted share units granted to the Company's employees.

Summary of Service-Based Restricted Share Units

        The following table sets forth a summary of service-based restricted share unit activities:

	Shares Granted			Weighted-Average Grant Date Fair Value
	(In thousands)
December 31, 2016		5,458		$	17.23
Awarded		406		$	51.61
Vested		(1,295	)	$	17.00
Cancelled		(113	)	$	17.32
June 30, 2017		4,456		$	20.43

        As of June 30, 2017, unrecognized compensation cost, adjusted for estimated forfeitures and related to non-vested, service-based restricted share units granted to the Company's employees and directors, was $76.3 million. This cost is expected to be recognized over a weighted-average period of 2.7 years. The total fair value based on the vesting date of the restricted share units vested was $22.0 million for the six months ended June 30, 2017.

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Other Balance Sheet Components

6 Months Ended

Jun. 30, 2017

Other Balance Sheet Components

Other Balance Sheet Components

7. Other Balance Sheet Components

	As of
	December 31, 2016			June 30, 2017
	(In thousands)
Accounts receivable, net:
Due from third parties	$	66,701		$	87,839
Due from Alibaba		24,293			19,187
Due from other related parties		31,589			36,076
Total gross amount	$	122,583		$	143,102
Allowance for doubtful accounts:
Balance at the beginning of the year/period		(1,375	)		(6,529	)
Reversal (additional provision) charged to expenses, net		(7,787	)		(4,086	)
Write-off		2,633			2,186
Balance at the end of the year/period		(6,529	)		(8,429	)
	$	116,054		$	134,673
Prepaid expenses and other current assets:
Rental and other deposits	$	3,965		$	2,304
Prepayment for investments		24,953			29,389
Advertising prepayment		5,267			3,144
Prepayment to outsourced service providers		4,043			5,134
Amounts deposited by users*		21,203			22,026
Others		7,233			8,488
	$	66,664		$	70,485
Property and equipment, net:
Computers and equipment	$	94,170		$	104,388
Leasehold improvements		2,054			2,330
Furniture and fixtures		922			1,076
Others		1,655			1,752
Property and equipment, gross		98,801			109,546
Less: Accumulated depreciation		(75,985	)		(83,622	)
	$	22,816		$	25,924
Accrued and other liabilities**:
Payroll and welfare	$	33,786		$	30,323
Marketing expenses		40,968			43,664
Payroll withholding taxes		3,547			3,547
Sales rebates		31,598			40,434
Professional fees		4,255			4,559
VAT and other tax payable		35,728			68,714
Payable to other service providers		1,457			731
Amounts due to users*		21,203			22,026
Others		7,600			6,982
	$	180,142		$	220,980

*

Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out "red envelops" and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo's platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivables temporarily held in Weibo's account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the unaudited interim condensed consolidated balance sheets.

**

Include amounts due to third parties, employees, related parties and Weibo wallet users.

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Income Taxes

6 Months Ended

Jun. 30, 2017

Income Taxes

Income Taxes

8. Income Taxes

        The Company is registered in the Cayman Islands and mainly operates in two taxable jurisdictions—the PRC and Hong Kong.

        The Group's income before income taxes is as follows:

	Six Months Ended June 30,
	2016			2017
	(In thousands, except percentage)
Income before income tax expenses	$	33,925		$	147,441
Loss from non-China operations	$	(14,620	)	$	(23,737	)
Income from China operations	$	48,545		$	171,178
Income tax expense applicable to China operations	$	2,344		$	27,679
Effective tax rate for China operations		4.8	%		16.2	%

        The Company generated the majority of its operating income from PRC operations and has recorded income tax provision for the periods presented. Stock-based compensation was recorded in the Company's loss from non-China operations.

Cayman Islands

        Under the current tax laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. In addition, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax is required.

China

        Effective January 1, 2008, the Enterprise Income Tax Law (the "EIT Law") in China unifies the enterprise income tax rate for the entities incorporated in China at 25%, unless they are eligible for preferential tax treatment. On February 22, 2008, relevant governmental regulatory authorities released the qualification criteria, application procedures and assessment processes for "software enterprise," which can enjoy an income tax exemption for two years beginning with its first profitable year and a 50% tax reduction, at a rate of 12.5% for the subsequent three years. The Group's WFOE qualifies as a software enterprise and, thus, enjoyed an income tax exemption in 2015 and 2016, as the WFOE was profitable in both years. The tax status of the Group's WFOE changed from being fully tax exempted to being subject to 50% of the enterprise income tax rate, which is 12.5%, in 2017.

        The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose "de facto management body" is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the "de facto management body" as "the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a non-PRC company is located." Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC be considered a resident enterprise for PRC tax purposes. However, due to limited guidance and implementation history of the EIT Law, should Weibo be treated as a resident enterprise for PRC tax purposes, the Company will be subject to PRC tax on worldwide income at a uniform tax rate of 25% retroactive to January 1, 2008.

        The EIT Law also imposes a withholding income tax rate of 10% on dividends distributed by a WFOE to its immediate holding company outside of China, if such immediate holding company is considered as a non-resident enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company's jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. The Cayman Islands, where the Company incorporated, does not have such tax treaty with China. According to the arrangement between Mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by a WFOE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% (if the foreign investor owns directly at least 25% of the shares of the WFOE). The State Administration of Taxation further promulgated Circular 601 on October 27, 2009, which provides that tax treaty benefits will be denied to "conduit" or shell companies without business substance and that a beneficial ownership analysis will be used based on a "substance-over-form" principle to determine whether or not to grant the tax treaty benefits.

        The operations of the Group's WFOE in China is invested and held by Weibo HK. If the Company is regarded as a non-resident enterprise and Weibo HK is regarded as a resident enterprise, then Weibo HK may be required to pay a 10% withholding tax on any dividends payable to the Company. If Weibo HK is regarded as a non-resident enterprise, then Weibo Technology may be required to pay a 5% withholding tax for any dividends payable to Weibo HK. However, it is still unclear at this stage whether Circular 601 applies to dividends from Weibo Technology paid to Weibo HK. If Weibo HK were not considered as "beneficial owners" of any dividends from Weibo Technology, the dividends payable to Weibo HK would be subject to a withholding tax of 10%. In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to Weibo Corporation and are subject to the withholding taxes. The current policy approved by the Company's board of directors allows the Group to distribute PRC earnings offshore only if the Group does not have to pay a dividend tax. As of December 31, 2016 and June 30, 2017, the Group did not record any withholding tax for its PRC subsidiaries.

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Related Party Transactions

6 Months Ended

Jun. 30, 2017

Related Party Transactions

Related Party Transactions

9. Related Party Transactions

        The following sets forth significant related parties and their relationships with the Company:

Company Name	Relationship with the Company
SINA	Parent and affiliates under common control.
Alibaba	Strategic partner and significant shareholder of the Company.

        Matching loan between Weibo and SINA.

        In January 2017, the Company and its certain subsidiary entered into one-year loan agreements with SINA and SINA's certain subsidiary, pursuant to which the Company is entitled to draw down U.S. dollar-denominated loan from SINA and the SINA subsidiary is entitled to draw down equivalent RMB-denominated loan from the Company's subsidiary, to facilitate each other's business operations. All of the loans carry a fixed rate of interest equal to the current market interest rate as of the dates when the principal was drawn down. As of June 30, 2017, the Company had a U.S. dollar-denominated loan from SINA with principal amount of $60.0 million, and the Company's subsidiary has a RMB-denominated loan to the SINA's subsidiary with principal amount of $60.5 million, respectively. For the six months ended June 30, 2017, interest income that the Group earned from such RMB-denominated loans was $0.9 million, and interest expense that the Group accrued for such U.S. dollar-denominated loans was $0.8 million, respectively.

        The following sets forth significant related party transactions with the Company:

	Six Months Ended June 30,
	2016		2017
	(In thousands, except percentage)
Transactions with SINA
Revenue billed through SINA(1)	$	13,301	$	25,965
Costs and expenses allocated from SINA(2)	$	12,527	$	17,612
Interest income on matching loan to SINA	$	—	$	923
Interest expense on matching loan from SINA	$	—	$	831

(1)

For the six months ended June 30, 2016 and 2017, the Group billed $13.3 million and $26.0 million, respectively, to third parties through SINA.

(2)

Costs and expenses allocated from SINA represented the charges for certain services provided by SINA's affiliates and charged to the Company using actual cost allocation based on proportional utilization. In addition to the allocated costs and expenses, SINA also billed $11.1 million and $10.4 million for other costs and expenses associated with Weibo's business for the six months ended June 30, 2016 and 2017 respectively.

	Six Months Ended June 30,
	2016		2017
	(In thousands, except percentage)
Transactions with Alibaba
Advertising and marketing services provided to Alibaba	$	23,969	$	20,987
Services provided by Alibaba	$	6,752	$	11,594

        The following sets forth related party outstanding balance:

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Amount due from SINA(3)	$	18,565	$	—
Amount due to SINA(3)	$	—	$	2,885
Matching loan to SINA(4)	$	—	$	61,360
Matching loan from SINA(4)	$	—	$	60,831
Accounts receivable due from Alibaba	$	24,293	$	19,187

(3)	The Group uses amount due from/to SINA to settle balances arising from cost and expenses allocated from SINA based on proportional utilization, other expenditures associated with the Weibo business paid by SINA and third-party customer and supplier balances settled through SINA. As of June 30, 2017, the amount due to SINA included a $2.0 million short-term loan from SINA.
(4)	As of June 30, 2017, the outstanding balances of matching loan to/from SINA included the principal amount of loans and the interest income/expense accrued for the six months ended June 30, 2017.

        For the six months ended June 30, 2016 and 2017, advertising and marketing revenues generated from other related parties were $18.4 million and $30.2 million, respectively, and other revenues from other related parties were $0.3 million and $1.9 million, respectively. For the six months ended June 30, 2016 and 2017, the Group received promotional services from other related parties amounting to approximately $4.5 million and $1.5 million, respectively. As of December 31, 2016 and June 30, 2017, amount due from other related parties was $30.1 million and $34.6 million, respectively, and accrued and other liabilities due to other related parties were $9.3 million and $6.4 million, respectively.

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Net Income per Share

6 Months Ended

Jun. 30, 2017

Net Income per Share

Net Income per Share

10. Net Income per Share

        Basic net income per share is computed using the weighted average number of the ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in the computation of basic earnings per share ("EPS"). Diluted EPS is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under the treasury stock method.

        The following table sets forth the computation of basic and diluted net income per share for the periods indicated:

	Six Months Ended June 30,
	2016		2017
	(In thousands, except per share data)
Basic net income per share calculation:
Numerator:
Net income attributable to Weibo	$	32,955	$	120,479
Denominator:
Weighted average ordinary shares outstanding		212,903		219,281
Basic net income per share attributable to Weibo	$	0.15	$	0.55
Diluted net income per share calculation:
Numerator:
Net income attributable for calculating diluted net income per share	$	32,955	$	120,479
Denominator:
Weighted average ordinary shares outstanding		212,903		219,281
Weighted average ordinary shares equivalents:
Effects of dilutive securities
Stock options		5,318		1,839
Unvested restricted share units		2,559		3,835
Shares used in computing diluted net income per share attributable to Weibo		220,780		224,955
Diluted net income per share attributable to Weibo	$	0.15	$	0.54

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Segment Information

6 Months Ended

Jun. 30, 2017

Segment Information

Segment Information

11. Segment Information

        The Group currently operates and manages its business in two principal business segments globally—advertising and marketing services and other services. Information regarding the business segments provided to the Group's chief operating decision makers ("CODM"), its Chief Executive Officer, is at the revenue level and the Group currently does not allocate operating costs or assets to its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments. As substantially all of the Group's revenues are derived from within the PRC and substantially all of the Group's long-lived assets are located within the PRC, no geographical information is presented.

        The following is a summary of the Group's revenues:

Revenues	Advertising & Marketing		Other		Total
	(In thousand)
Six months ended June 30, 2016	$	226,419	$	39,756	$	266,175
Six months ended June 30, 2017	$	387,637	$	64,937	$	452,574

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Financial Instruments

6 Months Ended

Jun. 30, 2017

Financial Instruments

Financial Instruments

12. Financial Instruments

Fair Value

        The following table sets forth the financial instruments measured at fair value by level within the fair value hierarchy as of December 31, 2016 and June 30, 2017:

	Fair Value Measurements
	Total		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
As of December 31, 2016:
Bank time deposits*	$	31,188	$	—	$	31,188	$	—
Available-for-sale securities**		5,274		5,274		—		—
Total	$	36,462	$	5,274	$	31,188	$	—
As of June 30, 2017:
Bank time deposits*	$	385,105	$	—	$	385,105	$	—
Available-for-sale securities**		4,373		4,373		—		—
Total	$	389,478	$	4,373	$	385,105	$	—

*	Included in cash and cash equivalents and short-term investments on the Group's unaudited interim condensed consolidated balance sheets.
**	Included in long-term investments on the Group's unaudited interim condensed consolidated balance sheets.

Recurring

        The Group measures bank time deposits and available-for-sale securities at fair value on a recurring basis.

        The fair value of the Group's available-for-sale securities are determined based on the quoted market price (Level 1). The fair value of the Group's bank time deposits are determined based on the quoted market price for similar products (Level 2).

        The Group reviews its available-for-sale investments regularly to determine if an investment is other-than-temporarily impaired due to changes in quoted market price or other impairment indicators. No impairment was charged for the six months ended June 30, 2016 and 2017 (see Note 4 for further information).

Non-recurring

        The Group measures certain financial assets, including investments under the cost method and equity method, at fair value on a non-recurring basis only if an impairment charge is recognized.

        The fair value of the Group's privately held investments are determined using the income approach with unobservable inputs, such as the investee company's historical financial results and assumptions about future growth rates, which require significant judgment to determine, and the market approach based on market participants' price quote for the investment. Certain privately held investments under the cost method and equity method were measured using significant unobservable inputs (Level 3). For the six months ended June 30, 2016 and 2017, several investments were written down from their respective carrying value to a fair value of nil, with impairment charges incurred and recorded in earnings for the period. The impairment charges related to these investments were $4.1 million and $1.4 million, respectively (see Note 4 for further information).

        The Group's non-financial assets, such as intangible assets, goodwill and fixed assets, are measured at fair value only if they were determined to be impaired. In accordance with the Group policy to perform an impairment assessment of its goodwill on an annual basis as of the balance sheet date or when facts and circumstances warrant a review, the Group performed an impairment assessment on its goodwill by reporting unit annually. The Group concluded that no write-down was warranted as of December 31, 2016.

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2017

Commitments and Contingencies

Commitments and Contingencies

13. Commitments and Contingencies

        Operating lease commitments include the commitments under the lease agreements for the Group's office premises. The Group leases its office facilities under non-cancelable operating leases with various expiration dates through 2022. For the six months ended June 30, 2016 and 2017, lease expense was $8.5 million and $4.8 million, respectively. Based on the current rental lease agreements, future minimum lease payments required as of June 30, 2017 was as follows:

Operating lease commitments	Total		Less than One Year		One to Three Years		Three to Five Years		More than Five Years
	(In thousands)
As of June 30, 2017:	$	37,524	$	8,728	$	16,505	$	12,291	$	—

        Purchase commitments mainly include minimum commitments for internet connection and marketing activities.

        Purchase commitments as of June 30, 2017 was as follows:

Purchase commitments	Total		Less than One Year		One to Three Years		Three to Five Years		More than Five Years
	(In thousands)
As of June 30, 2017:	$	279,429	$	242,570	$	36,759	$	100	$	—

        There are uncertainties regarding the legal basis of the Group's ability to operate an Internet business in China. Although China has implemented a wide range of market-oriented economic reforms, the telecommunication, information and media industries remain highly regulated. Not only are such restrictions currently in place, the existing regulations are unclear as to which specific segments of these industries companies with foreign investors, including the Company, may operate. Therefore, the Group may be required to limit the scope of its operations in China, and this could have a material adverse effect on its financial position, results of operations and cash flows.

        In June and August 2017, the Company and certain of its officers were named as defendants in two putative securities class actions filed in the United States District Court for the District of New Jersey, respectively. The actions—purportedly brought on behalf of a class of persons who allegedly suffered damages as a result of their trading in the Company's ADSs between April 27 and June 22, 2017 or between April 28, 2016 and June 19, 2017, allege that the Company's public filings contained misstatements and omissions in violation of the U.S. federal securities laws. On August 28, 2017, two sets of purported shareholders filed motions to consolidate the cases and appoint themselves as lead plaintiffs of the purported plaintiff class and appoint their designated counsel as lead counsel. The cases are otherwise in their preliminary stages. As of this stage, the Company is unable to estimate the possible outcome or loss or possible range of loss, if any, associated with the resolution of these lawsuits. As of June 30, 2017, no losses with respect to this contingency were accrued.

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Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events

Subsequent Events

14. Subsequent Events

        In October 2017, the board of directors (the "Board") of the Company authorized the Company to offer convertible senior notes due 2022 (the "notes") up to a certain aggregate principal amount in a capital markets transaction, subject to market conditions. The net proceeds from the notes will be used for general corporate purposes, including working capital needs and potential acquisition of complementary businesses.

        The conversion rate and other terms of the notes have not been finalized and will be determined at the time of the offering.

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Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2017

Significant Accounting Policies

Basis of presentation

Basis of presentation

        In the opinion of the Company, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of June 30, 2017, its results of operations and cash flows for the six months ended June 30, 2016 and 2017. The consolidated balance sheet at December 31, 2016, was derived from audited annual financial statements included in the Company's Annual Report on Form 20-F filed on April 27, 2017, but does not contain all of the footnote disclosures from the annual financial statements.

        The preparation of the Group's unaudited interim condensed consolidated financial statements is in conformity with US GAAP. The unaudited interim condensed consolidated financial statements include the accounts of Weibo, its wholly owned subsidiaries, VIE, and VIE's subsidiaries. All significant intercompany balances and transactions have been eliminated.

Use of estimates

Use of estimates

        Conformity with US GAAP requires the use of estimates and judgments that affect the reported amounts in the unaudited interim condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments the management makes about the carrying values of the assets and liabilities, which are not readily apparent from other sources. GAAP requires making estimates and judgments in several areas, including, but not limited to, the basis of consolidation, revenue recognition, fair value accounting, income taxes, goodwill and other long-lived assets, allowances for doubtful accounts, stock-based compensation, and the estimated useful lives of assets. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates.

Revenue recognition

Revenue recognition

Advertising and marketing revenues

        Advertising and marketing revenues are derived principally from online advertising, including social display ads and promoted marketing. Social display ad arrangements allow customers to place advertisements on particular areas of the Group's platform in particular formats and over particular periods of time, which is typically no more than three months. The Group enters into cost per mille ("CPM"), or cost per thousand impressions, advertising arrangements with the customers, under which the Group recognizes revenues based on the number of times that the advertisement has been displayed. The Group also enters into cost per day ("CPD") advertising arrangements with customers, under which the Group recognizes revenues ratably over the contract periods.

        Revenues are recognized only when the following criteria have been met: (1) persuasive evidence of an arrangement exists; (2) the price is fixed or determinable; (3) the service is performed; and (4) collectability of the related fee is reasonably assured. The majority of the Group's revenue transactions are based on standard business terms and conditions, which are recognized net of agency rebates. Advertising arrangements involving multiple deliverables are broken down into single-element arrangements based on their relative selling price for revenue recognition purposes. For multiple-deliverable revenue arrangements, it is required that the arrangement consideration to be allocated to all deliverables at the inception of the arrangement on the following basis: (a) vendor-specific objective evidence (VSOE) of selling price, if it exists, otherwise, (b) third-party evidence (TPE) of the selling price. If neither (a) nor (b) exists, then use (c) management's best estimate of the selling price of the deliverable. The Group primarily uses VSOE to allocate the arrangement consideration if such selling price is available. For the deliverables that have not been sold separately, the best estimate of the selling price (BESP) is used, which has taken into consideration of the pricing of advertising areas of the Group's platform with similar popularity and advertisements with similar format and quoted prices from competitors and other market conditions. Revenues recognized with reference to BESP were immaterial for all periods presented. The Group recognizes revenues on the elements delivered and defers the recognition of revenues for the undelivered elements until the remaining obligations have been satisfied.

        Revenues from barter transactions are recognized during the period in which the advertisements are displayed on the Group's properties. Barter transactions in which physical goods or services are received in exchange for advertising services are recorded based on the fair values of the goods or services received. Revenues from barter transactions were immaterial for all periods presented.

Other revenues

        The Group generates other revenues principally from fee-based services, including game-related services, VIP membership and data licensing. Revenues from these services are recognized over the periods in which the services are performed, provided that no significant obligations remain, collection of the receivable is reasonably assured and the amounts can be accurately estimated.

        Game-related services.    Game-related service revenues are mostly generated from the sale of virtual items from games operated by the Group. The Group collects payments from the game players in connection with the sale of virtual currency, which are converted into in-game credits (game tokens) that can be used to purchase virtual items in the third-party developed games. The Group remits certain predetermined percentages of the proceeds to the game developers when the virtual currency is converted into in-game credits.

        The Group has determined that the game developers are the primary obligors for the game-related service given that the game developers are responsible for developing, maintaining and updating the game related services and have reasonable latitude to establish the prices of virtual items for which in-game credits are used. The Group views the game developers to be its customers, and the Group's primary responsibility is to promote the games of the developers, provide virtual currency exchange service, maintain the platform for game players to easily access the games and offer customer support to resolve registration, log-in, currency exchange and other related issues. Accordingly, the Group records game-related revenue, net of predetermined revenue sharing with the game developers.

        Virtual currencies in general are not refundable once they have been sold unless there are unused in-game credits at the time a game is discontinued. Sale of virtual currencies net of the game developer proceeds are recognized as revenues over the estimated consumption period of in-game virtual items, which is typically from a few days to one month after the purchase of in-game credits.

        VIP membership.    VIP membership is a service package consisting of user certification and preferential benefits, such as daily priority listings and higher quota for following user accounts. Prepaid VIP membership fees are recorded as deferred revenue and recognized as revenue ratably over the contract period of the membership service.

        Data licensing.    The Group began to offer data licensing arrangements that allow its customers to access, search and analyze historical and real-time data on its platform. The data licensing arrangement is for a fixed period, typically one year, and such revenue is recognized ratably over the contract period.

Cost of revenues

Cost of revenues

        Cost of revenues consists mainly of costs associated with the maintenance of platform, which primarily include bandwidth and other infrastructure costs, labor cost and turnover taxes levied on the revenues, part of which were allocated from SINA. The Group presents taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction on a gross basis in the financial statements. The Group is subject to 6.7% Value-Added Tax ("VAT") and surcharges for its revenues and an additional 3% cultural business construction fees for its advertising and marketing revenues.

Sales and Marketing Expenses

Sales and Marketing Expenses

        Sales and marketing expenses consist mainly of online and offline advertising and promotional expenses, salary, benefits and commission expenses, and facility expenses. Advertising and promotional expenses generally represent the expenses of promotions of corporate image and product marketing. The Group expenses all advertising and promotional expenses as incurred and classifies these expenses under sales and marketing expenses.

Product development expenses

Product development expenses

        Product development expenses consist mainly of payroll-related expenses and infrastructure costs incurred for enhancement to and maintenance of the Group's platform, as well as costs associated with new product development and product enhancements, part of which were allocated from SINA. The Group expenses all costs incurred for the planning and post implementation phases of development and costs associated with repair or maintenance of the existing site or the development of platform content. Since inception, the amount of costs qualifying for capitalization has been immaterial and, as a result, all product development costs have been expensed as incurred.

Stock-based compensation

Stock-based compensation

        All stock-based awards to employees and directors, such as stock options and restricted share units ("RSUs"), are measured at the grant date based on the fair value of the awards. Stock-based compensation, net of forfeitures, is recognized as expenses on a straight-line basis over the requisite service period, which is the vesting period.

        The Group uses the Black-Scholes option pricing model to estimate the fair value of stock options. The determination of estimated fair value of stock-based payment awards on the grant date using an option pricing model is affected by the fair value of the Company's ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and expected dividends, if any. Options granted generally vest over four years.

        The Group recognizes the estimated compensation cost of restricted share units based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term of generally four years for service-based restricted share units. The Group also recognizes the compensation cost of performance-based restricted share units, net of estimated forfeitures, according to the probability of performance goal achievement at the end of each reporting period.

        Forfeitures are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates. The Group uses historical data to estimate pre-vesting option and records stock-based compensation expense only for those awards that are expected to vest. See Note 6 Stock-based Compensation for further discussion on stock-based compensation.

Taxation

Taxation

Income taxes

        Income taxes are accounted for using the asset and liability approach. Under this approach, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry forwards. The Group records a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not.

Uncertain tax positions

        To assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement.

Operating leases

Operating leases

        The Group leases office space under operating lease agreements with initial lease terms ranging from one to five and a half years. Rental expense is recognized from the date of initial possession of the leased property on a straight-line basis over the term of the lease, part of which was allocated from SINA. Certain lease agreements contain rent holidays, which are recognized on a straight-line basis over the lease term. Lease renewal periods are considered on a lease-by-lease basis and are generally not included in the initial lease terms.

Cash equivalents

Cash equivalents

        The Group considers all highly liquid investments with original maturities of three months or less as cash equivalents. Cash equivalents are comprised of investments in time deposits stated at cost plus accrued interest.

Accounts receivable and allowances for doubtful accounts

Accounts receivable and allowances for doubtful accounts

        Accounts receivable are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Group maintains an allowance for doubtful accounts which reflects its best estimate of amounts that will not be collected. The Group determines the allowance for doubtful accounts based on a historical, rolling average, bad debt rate in the prior period and other factors, such as credit-worthiness of the customers and the age of the receivable balances. The Group also provides specific provisions for bad debts when facts and circumstances indicate that the receivable is unlikely to be collected. If the financial condition of the Group's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional bad debt allowances may be required.

Fair value measurements

Fair value measurements

Financial instruments

        All financial assets and liabilities are recognized or disclosed at fair value in the unaudited interim condensed consolidated financial statements on a recurring basis. Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

        Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

•           Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

•           Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

•           Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

        The carrying amount of cash and cash equivalents, short-term investments, accounts receivable due from third parties, accounts receivable due from Alibaba, accounts receivable due from other related parties, matching loan to/from SINA, amount due from/to SINA, accounts payable, accrued and other liabilities approximates fair value because of their short-term nature. See Note 12 Financial Instruments for additional information.

Long-term investments

Long-term investments

        Long-term investments are comprised of investments in publicly traded and privately held companies. For long-term investments over which the Group does not have significant influence, the cost method of accounting is used. For long-term investments in shares that are not common stock or in-substance common stock and that do not have readily determinable fair value, the cost method accounting is used. The Group uses the equity method to account for ordinary-share-equivalent equity investments over which it has significant influence but does not own a majority equity interest or otherwise control.

        The Group monitors its investments accounted for under the cost method and equity method for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating performance of the business, including current earnings trends, undiscounted cash flows, and other company-specific information, such as recent financing rounds. Determination of the fair value, particularly for investments in privately-held companies whose revenue model is unclear, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and the determination of whether any identified impairment is other-than-temporary. If any impairment is considered other-than-temporary, the Group will write down the asset to its fair value and take the corresponding charge to the unaudited interim condensed consolidated statements of comprehensive income.

        The Group invests in marketable equity securities to meet business objectives and intends to hold the securities for more than a year from the balance sheet date. These marketable securities are reported at fair value, classified and accounted for as available-for-sale ("AFS") securities under long-term investments. The treatment of a decline in the fair value of an individual security is based on whether the decline is other-than-temporary. The Group assesses its available-for-sale securities for other-than-temporary impairment by considering factors including, but not limited to, its ability and intent to hold the individual security, severity of the impairment, expected duration of the impairment and forecasted recovery of fair value. Investments classified as available-for-sale securities are reported at fair value with unrealized gains or losses, if any, recorded in accumulated other comprehensive loss in shareholders' equity. If the Group determines a decline in fair value is other-than-temporary, the cost basis of the individual security is written down to fair value as a new cost basis and the amount of unrealized loss recorded in accumulated other comprehensive loss will be reclassified to net income in the unaudited interim condensed consolidated statements of comprehensive income. The fair value of the investment would then become the new cost basis of the investment and is not adjusted for subsequent recoveries in fair value.

Long-lived assets

Long-lived assets

Property and equipment

        Property and equipment are stated at cost less accumulated depreciation, amortization and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally from three to four years for computers and equipment and five years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining lease term.

Goodwill

        Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of the Group's acquisitions of interests in its subsidiaries and consolidated VIE. The Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20 ("ASC 350-20"), Intangibles—Goodwill and Other: Goodwill, which requires that goodwill be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. US GAAP provides the option to apply the qualitative assessment first and then the quantitative assessment, if necessary, or to apply the quantitative assessment directly. The qualitative approach starts the goodwill impairment test by assessing qualitative factors, which by taking into consideration of macroeconomics, overall financial performance, industry and market conditions and the share price of the Group, to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If so, the quantitative impairment test is performed; otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of goodwill with its carrying value. For reporting units directly applying a quantitative assessment, the goodwill impairment test is quantitatively performed by comparing the fair values of those reporting units to their carrying amounts. The Group adopted the option to apply the qualitative approach to assess its goodwill on the relevant reporting units. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value of each reporting unit. Judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit.

Intangible assets other than goodwill

        Intangible assets arising from acquisitions are recognized at fair value upon acquisition and amortized on a straight-line basis over their estimated useful lives, generally from two to five years. Long-lived assets and certain identifiable intangible assets other than goodwill to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for long-lived assets and certain identifiable intangible assets that management expects to hold or use is based on the amount by which the carrying value exceeds the fair value of the asset. Judgment is used in estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the asset's fair value.

Deferred revenues

Deferred revenues

        Deferred revenues consist of contractual billings in excess of recognized revenue and payments received in advance of revenue recognition, which are mainly from the customer advance of the advertising and marketing services and the sales of the fee-based services, such as VIP membership.

Non-controlling interests

Non-controlling interests

        For the Company's majority-owned subsidiaries and VIE, non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. To reflect the economic interest held by non-controlling shareholders, net loss attributable to the non-controlling ordinary shareholders is recorded as non-controlling interests in the Company's unaudited interim condensed consolidated statements of comprehensive income. Non-controlling interests are classified as a separate line item in the equity section of the Company's unaudited interim condensed consolidated balance sheets and have been separately disclosed in the Company's unaudited interim condensed consolidated financial statements to distinguish the interests from that of the Company.

Foreign currency

Foreign currency

        The Company's reporting currency and functional currency are the U.S. dollar. The Group's operations in China and in international regions use their respective currencies as their functional currencies. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities and average rates of exchange in the period for revenues, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income or loss as a component of shareholders' equity. Translation gains or losses are not released to net income unless the associated net investment has been sold, liquidated, or substantially liquidated.

        Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rate prevailing on the transactions dates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in interest and other income, net.

        Net foreign currency transaction gains or losses arise from transacting in a currency other than the functional currency of the entity and the amounts recorded were immaterial for each of the periods presented.

Net Income per share

Net Income per share

        Basic net income per share is computed using the weighted average number of ordinary shares outstanding during the period. Options and RSUs are not considered outstanding in computation of basic earnings per share. Diluted net income per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under treasury stock method. Potential ordinary shares include options to purchase ordinary shares and RSUs, unless they were anti-dilutive. The computation of diluted net income per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income per share. The Group uses the two-class method to calculate net income per share as both classes share the same rights in dividends. Therefore, basic and diluted earnings per share are the same for both classes of ordinary shares.

Segment reporting

Segment reporting

        In accordance with ASC 280, Segment Reporting, the Group's chief operating decision maker ("CODM"), the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole. The Group currently operates and manages its business in two principal business segments globally—advertising and marketing services and other services. Information regarding the business segments provided to the Group's CODM is at the revenue level and the Group currently does not allocate operating costs or assets to its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments. As the Group's long-lived assets are substantially all located in the PRC and substantially the Group's revenues are derived from within the PRC, no geographical information is presented.

Concentration of risks

Concentration of risks

        Concentration of credit risk.    Financial instruments that potentially subject the Group to a concentration of credit risk consist primarily of cash and cash equivalents, short-term investments and accounts receivable. In addition, with the majority of its operations in China, the Group is subject to RMB currency risk and offshore remittance risk, both of which have been difficult to hedge and the Group has not done so. The Group limits its exposure to credit loss by depositing its cash and cash equivalents with financial institutions in the US, PRC and Hong Kong, which are among the largest and most respected with high ratings from internationally-recognized rating agencies, that management believes are of high credit quality. The Group periodically reviews these institutions' reputations, track records and reported reserves.

        As of December 31, 2016 and June 30, 2017, the Group had $393.6 million and $606.0 million, respectively, in cash and bank time deposits (with terms generally up to twelve months) with large domestic banks in China. China promulgated a Bankruptcy Law that came into effect on June 1, 2007, which contains a separate article expressly stating that the State Council may promulgate implementation measures for the bankruptcy of Chinese banks based on the Bankruptcy Law. Under the Bankruptcy Law, a Chinese bank may go bankrupt. In addition, since China's concession to WTO, foreign banks have been gradually permitted to operate in China and have become significant competitors to Chinese banks in many aspects, especially since the opening of RMB business to foreign banks in late 2006. Therefore, the risk of bankruptcy on Chinese banks in which the Group holds cash and bank deposits has increased. In the event that a Chinese bank that holds the Group's deposits goes bankrupt, the Group is unlikely to claim its deposits back in full, since it is unlikely to be classified as a secured creditor to the bank under the PRC laws.

        Alibaba accounted for 9% and 5% of the Group's total revenues for the six months ended June 30, 2016 and 2017, respectively. No customer nor advertising agency accounted for 10% or more of the Group's revenues. The Group's top 10 advertising agencies contributed to 22% and 24% of the Group's total revenues for the six months ended June 30, 2016 and 2017, respectively.

        As of December 31, 2016 and June 30, 2017, substantially all accounts receivable were derived from the Group's China operations. Excluding accounts receivable due from Alibaba and other related parties, accounts receivable primarily consists of amounts due from advertising agencies and direct customers. Alibaba accounted for 21% and 14%, respectively, of the Group's net accounts receivables as of December 31, 2016 and June 30, 2017, while one customer accounted for 15% and 13%, respectively, at the same dates.

        Concentration of foreign currency risks.    The majority of the Group's operations were in RMB. As of December 31, 2016 and June 30, 2017, the Group's cash, cash equivalents and short-term investments balance denominated in RMB was $335.7 million and $478.5 million, accounting for 85% and 79% of the Group's total cash, cash equivalents and short-term investments balance. As of December 31, 2016 and June 30, 2017, the Group's aggregate net accounts receivable balance (including accounts receivable due from third parties, Alibaba and other related parties) denominated in RMB was $115.3 million and $133.9 million, respectively, accounting for almost all of its net accounts receivable balance. As of December 31, 2016 and June 30, 2017, the Group's current liabilities balance denominated in RMB was $267.8 million and $355.9 million, accounting for 96% and 83% of its total current liabilities balance. Accordingly, the Group may experience economic losses and negative impacts on earnings and equity as a result of exchange rate fluctuations of the RMB. Moreover, the Chinese government imposes controls on the convertibility of the RMB into foreign currencies and, in certain cases, the remittance of currency out of the PRC. The Group may experience difficulties in completing the administrative procedures necessary to remit its RMB out of the PRC and convert it into foreign currency.

Recent accounting pronouncements

Recent accounting pronouncements

        In May 2014, the Financial Accounting Standards Board ("FASB") issued, ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)." The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles. In April 2015, the FASB proposed a one-year delay in the effective date and companies will be allowed to early adopt as of the original effective date. The Group plans to adopt the new revenue guidance beginning in the first quarter of fiscal year 2018. The new standard also permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Group currently anticipates adopting the standard using the modified retrospective method and the Group is still in the process of completing the analysis on the impact this guidance will have on its consolidated financial statements and related disclosures.

        In January 2016, the FASB issued updated guidance on financial instruments, ASU No. 2016-01, which intends to improve the recognition and measurement of financial instruments. Most prominent among the changes in the standard is the requirement for changes in the fair value of equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income. The Group plans to adopt the new guidance beginning in the first quarter of fiscal year 2018. Adoption of the standard will be applied through a cumulative-effect adjustment to retained earnings as of the effective date. The Group is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

        In February 2016, the FASB issued a new standard on leases, ASU No. 2016-02, which requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize a liability to make lease payments (the lease liability) and a right-of use representing its right to use the underlying asset for the lease term in the statements of financial position. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. This standard will be effective for the Group beginning the first quarter of fiscal year 2019. The Group is currently evaluating the impact that this new standard will have on its consolidated financial statements.

        In August 2016, the FASB issued ASU No. 2016-15, which clarifies and includes specific guidance to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption of the amendments is permitted. The amendments in this ASU should be applied using a retrospective transition method to each period presented. The Group will adopt the amendments in the fiscal year of 2018 and does not expect a significant impact on its consolidated financial statements from the new standard.

        In January 2017, the FASB issued ASU No. 2017-01, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted. The amendments should be applied prospectively on or after the effective date. No disclosures are required at transition. The Group will adopt the amendments in the fiscal year of 2018 and does not expect a significant impact on its consolidated financial statements from the new standard.

        In January 2017, the FASB issued ASU No. 2017-04, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value, which eliminates the current requirement to calculate a goodwill impairment charge by comparing the implied fair value of goodwill with its carrying amount. The amendments will be effective beginning the first quarter of fiscal year 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied on a prospective basis. The Group is currently evaluating the impact this new standard will have on its consolidated financial statements.

        In February 2017, the FASB issued ASU No. 2017-05, which clarifies the scope of guidance on nonfinancial asset derecognition (ASC 610-20) as well as the accounting for partial sales of nonfinancial assets. The amendments will be effective beginning the first quarter of fiscal year 2018. Early adoption is permitted but must also early adopt the new revenue standard (ASC 606). The amendments should be applied on a full or modified retrospective basis. The Group will adopt the new standard effective January 1, 2018, and does not expect a significant impact on its consolidated financial statements.

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Operations (Tables)

6 Months Ended

Jun. 30, 2017

Operations

Schedule of the Company's major subsidiaries, VIE and VIE's subsidiary

Company	Date of Incorporation	Place of Incorporation	Percentage of Direct/ Indirect Economic Interest
Major Subsidiaries*
Weibo Hong Kong Limited ("Weibo HK")	July 19, 2010	Hong Kong		100	%
Weibo Internet Technology (China) Co., Ltd. ("Weibo Technology" or "the WFOE")	October 11, 2010	PRC		100	%
Major VIE and VIE's subsidiary
Beijing Weimeng Technology Co., Ltd ("Weimeng")	August 9, 2010	PRC		100	%
Beijing Weibo Interactive Internet Technology Co., Ltd. ("Weibo Interactive")	Acquired in May 2013	PRC		100	%

*         Weibo HK is a wholly owned subsidiary of Weibo Corporation, and Weibo Technology is a wholly owned subsidiary of Weibo HK.

Schedule of assets, liabilities, results of operations and cash flows of the VIE and VIE's subsidiaries taken as a whole, which are included in the Group's unaudited interim condensed consolidated balance sheets and statements of comprehensive income

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Total assets	$	276,330	$	331,368
Total liabilities	$	308,990	$	360,379

	Six Months ended June 30,
	2016			2017
	(In thousands)
Net revenues	$	207,859		$	353,776
Net income (loss)	$	(11,356	)	$	4,528

	Six Months ended June 30,
	2016			2017
	(In thousands)
Net decrease in cash and cash equivalents	$	(77,377	)	$	(22,417	)

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Cash, Cash Equivalents and Short-term Investments (Tables)

6 Months Ended

Jun. 30, 2017

Cash, Cash Equivalents and Short-term Investments

Schedule of cash, cash equivalents and short-term investments

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Cash and cash equivalents:
Cash	$	364,766	$	224,080
Short-term investments:
Bank time deposits		31,188		385,105
Total cash, cash equivalents and short-term investments	$	395,954	$	609,185

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Long-term Investments (Tables)

6 Months Ended

Jun. 30, 2017

Long-term Investments

Schedule of changes in the Group's long-term investments

	Cost Method			Equity Method			Available-for-Sale Securities			Total
	(In thousands)
Balance at December 31, 2016	$	390,330		$	4,329		$	5,274		$	399,933
Investments made		20,902			—			—			20,902
Gain from equity method investment		—			210			—			210
Dividend from equity method investment		—			(267	)		—			(267	)
Impairment on investments		(1,384	)		—			—			(1,384	)
Unrealized loss		—			—			(901	)		(901	)
Currency translation adjustment		1,111			107			—			1,218
Balance at June 30, 2017	$	410,959		$	4,379		$	4,373		$	419,711

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Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets

Schedule of the changes in the Group's goodwill by segment

	Advertising & Marketing		Other		Total
	(In thousands)
Balance as of December 31, 2016	$	—	$	10,266	$	10,266
Currency translation adjustment		—		396		396
Balance as of June 30, 2017	$	—	$	10,662	$	10,662

Schedule of estimated amortization expenses for future periods

Twelve Months Ended June 30,	(In thousands)
2018	$	629
2019 and thereafter		182
Total expected amortization expense	$	811

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Stock-Based Compensation

Schedule of the stock-based compensation

	Six Months Ended June 30,
	2016		2017
	(In thousands)
Cost of revenues	$	1,051	$	1,635
Sales and marketing		1,918		3,761
Product development		6,056		10,245
General and administrative		6,770		6,985
	$	15,795	$	22,626

Summary of the number of shares available for issuance

	Shares Available
	(In thousands)
December 31, 2016		18,878
Addition		—
Granted*		(561	)
Cancelled/expired/forfeited		123
June 30, 2017		18,440

*         During the six months ended June 30, 2017, 0.6 million restricted share units and no options were granted under the 2014 Plan.

Summary of option activities under the Company' stock option program

	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(In thousands)					(In years)		(In thousands)
December 31, 2016		2,587		$	1.41		1.6	$	101,403
Granted		—		$	—
Exercise		(1,744	)	$	0.80
Cancelled/expired/forfeited		(2	)	$	3.49
June 30, 2017		841		$	2.67		2.0	$	53,626
Vested and expected to vest as of June 30, 2017		835		$	2.66		2.0	$	53,287
Exercisable as of June 30, 2017		790		$	2.62		1.9	$	50,466

Schedule of stock options outstanding

        Information regarding stock options outstanding at June 30, 2017 is summarized below:

Range of Exercise Prices	Options Outstanding		Weighted Average Exercise Price		Options Exercisable		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
	(In thousands)				(In thousands)				(In years)
$0.36 - $0.41		151	$	0.38		151	$	0.36		0.25
$0.96 - $1.80		69	$	0.97		69	$	0.97		0.75
$3.25 - $3.36		278	$	3.33		278	$	3.33		1.91
$3.43 - $3.50		343	$	3.48		293	$	3.48		3.10
		841	$	0.39		791	$	2.62		0.29

Performance-based restricted share units

Stock-Based Compensation

Summary of restricted share unit activities

	Shares Granted			Weighted-Average Grant Date Fair Value
	(In thousands)
December 31, 2016		108		$	27.00
Awarded		155		$	50.45
Vested		(102	)	$	27.00
Cancelled		(10	)	$	34.74
June 30, 2017		151		$	50.48

Service-based restricted share units

Stock-Based Compensation

Summary of restricted share unit activities

	Shares Granted			Weighted-Average Grant Date Fair Value
	(In thousands)
December 31, 2016		5,458		$	17.23
Awarded		406		$	51.61
Vested		(1,295	)	$	17.00
Cancelled		(113	)	$	17.32
June 30, 2017		4,456		$	20.43

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Other Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2017

Other Balance Sheet Components

Schedule of other balance sheet components

	As of
	December 31, 2016			June 30, 2017
	(In thousands)
Accounts receivable, net:
Due from third parties	$	66,701		$	87,839
Due from Alibaba		24,293			19,187
Due from other related parties		31,589			36,076
Total gross amount	$	122,583		$	143,102
Allowance for doubtful accounts:
Balance at the beginning of the year/period		(1,375	)		(6,529	)
Reversal (additional provision) charged to expenses, net		(7,787	)		(4,086	)
Write-off		2,633			2,186
Balance at the end of the year/period		(6,529	)		(8,429	)
	$	116,054		$	134,673
Prepaid expenses and other current assets:
Rental and other deposits	$	3,965		$	2,304
Prepayment for investments		24,953			29,389
Advertising prepayment		5,267			3,144
Prepayment to outsourced service providers		4,043			5,134
Amounts deposited by users*		21,203			22,026
Others		7,233			8,488
	$	66,664		$	70,485
Property and equipment, net:
Computers and equipment	$	94,170		$	104,388
Leasehold improvements		2,054			2,330
Furniture and fixtures		922			1,076
Others		1,655			1,752
Property and equipment, gross		98,801			109,546
Less: Accumulated depreciation		(75,985	)		(83,622	)
	$	22,816		$	25,924
Accrued and other liabilities**:
Payroll and welfare	$	33,786		$	30,323
Marketing expenses		40,968			43,664
Payroll withholding taxes		3,547			3,547
Sales rebates		31,598			40,434
Professional fees		4,255			4,559
VAT and other tax payable		35,728			68,714
Payable to other service providers		1,457			731
Amounts due to users*		21,203			22,026
Others		7,600			6,982
	$	180,142		$	220,980

*

Weibo wallet enables users to conduct interest-generation activities on Weibo, such as handing out "red envelops" and coupons to users and purchase different types of products and services on Weibo, including those offered by the Group, such as marketing services and VIP membership, and those offered by Weibo's platform partners, such as e-commerce merchandises, financial products and virtual gifts. Amounts deposited by users primarily represent the receivables temporarily held in Weibo's account on a third party online payment platform for Weibo wallet users. Amounts due to users represent the balances that are payable on demand to Weibo wallet users and therefore are reflected as current liability on the unaudited interim condensed consolidated balance sheets.

**

Include amounts due to third parties, employees, related parties and Weibo wallet users.

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2017

Income Taxes

Schedule of income before income taxes

	Six Months Ended June 30,
	2016			2017
	(In thousands, except percentage)
Income before income tax expenses	$	33,925		$	147,441
Loss from non-China operations	$	(14,620	)	$	(23,737	)
Income from China operations	$	48,545		$	171,178
Income tax expense applicable to China operations	$	2,344		$	27,679
Effective tax rate for China operations		4.8	%		16.2	%

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Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2017

Related Party Transactions

Schedule of significant related parties and their relationships with the Company

Company Name	Relationship with the Company
SINA	Parent and affiliates under common control.
Alibaba	Strategic partner and significant shareholder of the Company.

Schedule of significant related party transactions with the Company

	Six Months Ended June 30,
	2016		2017
	(In thousands, except percentage)
Transactions with SINA
Revenue billed through SINA(1)	$	13,301	$	25,965
Costs and expenses allocated from SINA(2)	$	12,527	$	17,612
Interest income on matching loan to SINA	$	—	$	923
Interest expense on matching loan from SINA	$	—	$	831

(1)

For the six months ended June 30, 2016 and 2017, the Group billed $13.3 million and $26.0 million, respectively, to third parties through SINA.

(2)

Costs and expenses allocated from SINA represented the charges for certain services provided by SINA's affiliates and charged to the Company using actual cost allocation based on proportional utilization. In addition to the allocated costs and expenses, SINA also billed $11.1 million and $10.4 million for other costs and expenses associated with Weibo's business for the six months ended June 30, 2016 and 2017 respectively.

	Six Months Ended June 30,
	2016		2017
	(In thousands, except percentage)
Transactions with Alibaba
Advertising and marketing services provided to Alibaba	$	23,969	$	20,987
Services provided by Alibaba	$	6,752	$	11,594

Schedule of related party outstanding balance

	As of
	December 31, 2016		June 30, 2017
	(In thousands)
Amount due from SINA(3)	$	18,565	$	—
Amount due to SINA(3)	$	—	$	2,885
Matching loan to SINA(4)	$	—	$	61,360
Matching loan from SINA(4)	$	—	$	60,831
Accounts receivable due from Alibaba	$	24,293	$	19,187

(3)	The Group uses amount due from/to SINA to settle balances arising from cost and expenses allocated from SINA based on proportional utilization, other expenditures associated with the Weibo business paid by SINA and third-party customer and supplier balances settled through SINA. As of June 30, 2017, the amount due to SINA included a $2.0 million short-term loan from SINA.
(4)	As of June 30, 2017, the outstanding balances of matching loan to/from SINA included the principal amount of loans and the interest income/expense accrued for the six months ended June 30, 2017.

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Net Income per Share (Tables)

6 Months Ended

Jun. 30, 2017

Net Income per Share

Schedule of computation of basic and diluted net income per share

	Six Months Ended June 30,
	2016		2017
	(In thousands, except per share data)
Basic net income per share calculation:
Numerator:
Net income attributable to Weibo	$	32,955	$	120,479
Denominator:
Weighted average ordinary shares outstanding		212,903		219,281
Basic net income per share attributable to Weibo	$	0.15	$	0.55
Diluted net income per share calculation:
Numerator:
Net income attributable for calculating diluted net income per share	$	32,955	$	120,479
Denominator:
Weighted average ordinary shares outstanding		212,903		219,281
Weighted average ordinary shares equivalents:
Effects of dilutive securities
Stock options		5,318		1,839
Unvested restricted share units		2,559		3,835
Shares used in computing diluted net income per share attributable to Weibo		220,780		224,955
Diluted net income per share attributable to Weibo	$	0.15	$	0.54

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Segment Information (Tables)

6 Months Ended

Jun. 30, 2017

Segment Information

Summary of the Group's revenues

Revenues	Advertising & Marketing		Other		Total
	(In thousand)
Six months ended June 30, 2016	$	226,419	$	39,756	$	266,175
Six months ended June 30, 2017	$	387,637	$	64,937	$	452,574

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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Financial Instruments

Schedule of financial instruments measured at fair value by level within the fair value hierarchy

	Fair Value Measurements
	Total		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
As of December 31, 2016:
Bank time deposits*	$	31,188	$	—	$	31,188	$	—
Available-for-sale securities**		5,274		5,274		—		—
Total	$	36,462	$	5,274	$	31,188	$	—
As of June 30, 2017:
Bank time deposits*	$	385,105	$	—	$	385,105	$	—
Available-for-sale securities**		4,373		4,373		—		—
Total	$	389,478	$	4,373	$	385,105	$	—

*	Included in cash and cash equivalents and short-term investments on the Group's unaudited interim condensed consolidated balance sheets.
**	Included in long-term investments on the Group's unaudited interim condensed consolidated balance sheets.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2017

Commitments and Contingencies

Schedule of future minimum rental payments

Operating lease commitments	Total		Less than One Year		One to Three Years		Three to Five Years		More than Five Years
	(In thousands)
As of June 30, 2017:	$	37,524	$	8,728	$	16,505	$	12,291	$	—

Schedule of purchase commitments

Purchase commitments	Total		Less than One Year		One to Three Years		Three to Five Years		More than Five Years
	(In thousands)
As of June 30, 2017:	$	279,429	$	242,570	$	36,759	$	100	$	—

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Operations - Narrative Information (Details) $ in Millions		1 Months Ended	6 Months Ended
	Apr. 17, 2014 shares	Apr. 30, 2014 USD ($) shares	Jun. 30, 2017 Vote
Class A ordinary shares
Operations and reorganization
Shares issued from conversion of preferred shares (in shares)		30,046,154
Number of votes each share is entitled to | Vote			1
Number of Class A shares converted from Class B shares			1
Class A ordinary shares | Alibaba
Operations and reorganization
Number of ordinary shares acquired by investor (in shares)	29,990,778
Class B ordinary shares
Operations and reorganization
Number of votes each share is entitled to | Vote			3
IPO | Class A ordinary shares
Operations and reorganization
Issuance of shares (in shares)		19,320,000
Proceeds from IPO | $		$ 306.5
Weimeng
Operations and reorganization
Percentage of Direct/Indirect Economic Interest in VIEs			100.00%
Weibo Interactive
Operations and reorganization
Percentage of Direct/Indirect Economic Interest in VIEs			100.00%
Weibo HK
Operations and reorganization
Percentage of Direct/Indirect Economic Interest			100.00%
Weibo Technology
Operations and reorganization
Percentage of Direct/Indirect Economic Interest			100.00%

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Operations - Assets, Liabilities, Statement of Operations and Cash Flows (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Assets and Liabilities of the VIEs and VIE's Subsidiaries
Total assets	$ 1,343,364,000		$ 1,036,944,000
Total liabilities	431,466,000		279,586,000
Results of operations of the VIEs and VIE's subsidiaries
Net revenues	452,574,000	$ 266,175,000
Net income (loss)	120,479,000	32,955,000
Cash flows of the VIE and VIE's subsidiaries
Net decrease in cash and cash equivalents	$ (140,686,000)	(107,498,000)
Weibo Technology | Weibo Technology Interest-free Loans
Contractual Arrangements with the VIE
Term of the loans	10 years
Weibo Technology | Weibo Technology Granted VIE Trademark Licenses
Contractual Arrangements with the VIE
Term of trademark license agreements	1 year
Consolidated VIEs
Assets and Liabilities of the VIEs and VIE's Subsidiaries
Total assets	$ 331,368,000		276,330,000
Total liabilities	360,379,000		308,990,000
Results of operations of the VIEs and VIE's subsidiaries
Net revenues	353,776,000	207,859,000
Net income (loss)	4,528,000	(11,356,000)
Cash flows of the VIE and VIE's subsidiaries
Net decrease in cash and cash equivalents	(22,417,000)	$ (77,377,000)
Contractual Arrangements with the VIE
Asset of VIE can only be used to settle obligations of the VIE and VIE's subsidiaries, except for the registered capital and non-distributable reserve funds of the VIE and VIE's subsidiaries	0		0
Registered capital and non-distributable reserve funds of VIE and its subsidiaries	$ 56,200,000		$ 56,200,000

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Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2017
Stock options
Stock-based compensation
Vesting period	4 years
Service-based restricted share units
Stock-based compensation
Vesting period	4 years
Minimum
Operating leases
Lease period	1 year
Maximum
Operating leases
Lease period	5 years
Advertising and marketing revenues
Cost of revenues
VAT and surcharges (as a percent)	6.70%
Cultural business construction fees (as a percent)	3.00%
Advertising and marketing revenues | Maximum
Revenue recognition
Period over social display ad arrangements allow customers to place advertisements on particular areas of the Group's platform in particular formats	3 months
Other revenues
Game-related service
Maximum period for recognition of revenues after purchase of in-game credits	1 month
Data licensing arrangement term	1 year

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Significant Accounting Policies - Property and Equipment (Details)	6 Months Ended
	Jun. 30, 2017
Computers and equipment | Minimum
Property and equipment
Estimated useful lives of assets	3 years
Computers and equipment | Maximum
Property and equipment
Estimated useful lives of assets	4 years
Furniture and fixtures
Property and equipment
Estimated useful lives of assets	5 years

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Significant Accounting Policies - Intangible Assets Other Than Goodwill and Segment Reporting (Details)	6 Months Ended
	Jun. 30, 2017 segment
Segment reporting
Number of principal business segments	2
Minimum
Intangible assets other than goodwill
Estimated useful lives of intangible assets	2 years
Maximum
Intangible assets other than goodwill
Estimated useful lives of intangible assets	5 years

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Significant Accounting Policies - Concentration of Risks (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017 USD ($) customer Agency	Jun. 30, 2016 Agency	Dec. 31, 2016 USD ($) customer
Concentration of risks
Cash, cash equivalents and short-term investments	$ 609,185		$ 395,954
Current liabilities denominated in RMB	430,232		278,103
Cash, cash equivalents and short-term investments | Concentration of credit risk | China
Concentration of risks
Cash, cash equivalents and short-term investments	$ 606,000		393,600
Maximum term of original maturity of time deposits	12 months
Cash, cash equivalents and short-term investments | Concentration of foreign currency risks | RMB
Concentration of risks
Cash, cash equivalents and short-term investments	$ 478,500		$ 335,700
Percentage of benchmark derived from specified source	79.00%		85.00%
Consolidated net revenues benchmark | Customer concentration risk | Alibaba
Concentration of risks
Percentage of benchmark derived from specified source	5.00%	9.00%
Consolidated net accounts receivables benchmark | Concentration of credit risk | Alibaba
Concentration of risks
Percentage of benchmark derived from specified source	14.00%		21.00%
Consolidated net accounts receivables benchmark | Concentration of credit risk | Customer
Concentration of risks
Percentage of benchmark derived from specified source	13.00%		15.00%
Number of customers | customer	1		1
Consolidated net accounts receivables benchmark | Concentration of foreign currency risks | RMB
Concentration of risks
Accounts receivable denominated in RMB	$ 133,900		$ 115,300
Current liabilities | Concentration of foreign currency risks | RMB
Concentration of risks
Current liabilities denominated in RMB	$ 355,900		$ 267,800
Percentage of benchmark derived from specified source	83.00%		96.00%
Advertising & Marketing | Consolidated net revenues benchmark | Customer concentration risk | Top 10 advertising agencies | China
Concentration of risks
Number of advertising agencies | Agency	10	10
Percentage of benchmark derived from specified source	24.00%	22.00%

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Cash, Cash Equivalents and Short-term Investments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Cash and cash equivalents:
Cash	$ 224,080		$ 364,766
Short-term investments:
Bank time deposits	385,105		31,188
Total cash, cash equivalents and short-term investments	609,185		$ 395,954
Interest income	$ 5,300	$ 3,200

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Long-term Investments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Long-term investments
Balance at the beginning of the period	$ 399,933
Investments made	20,902
Gain from equity method investments	210	$ (61)
Dividend from equity method investment	(267)
Impairment on investments	(1,384)
Unrealized loss	(901)
Currency translation adjustment	1,218
Balance at the end of period	419,711
Investment related impairment	1,384	4,842
Cost Method
Long-term investments
Balance at the beginning of the period	390,330
Investments made	20,902
Impairment on investments	(1,384)
Currency translation adjustment	1,111
Balance at the end of period	410,959
Equity Method
Long-term investments
Balance at the beginning of the period	4,329
Gain from equity method investments	210
Dividend from equity method investment	(267)
Currency translation adjustment	107
Balance at the end of period	4,379
Available-for-Sale Securities
Long-term investments
Balance at the beginning of the period	5,274
Unrealized loss	(901)
Balance at the end of period	4,373
Non-recurring
Long-term investments
Investment related impairment	$ 1,400	$ 4,100

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Goodwill and Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($)
Changes in the Group's goodwill by segment
Balance at the beginning of the period	$ 10,266
Currency translation adjustment	396
Balance at the end of the period	10,662
Advertising & Marketing
Changes in the Group's goodwill by segment
Balance at the beginning of the period	0
Currency translation adjustment	0
Balance at the end of the period	0
Other
Changes in the Group's goodwill by segment
Balance at the beginning of the period	10,266
Currency translation adjustment	396
Balance at the end of the period	$ 10,662

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Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Goodwill and Intangible Assets
Intangible assets	$ 811		$ 1,100
Amortization expense	300	$ 400
Future estimated amortization expenses
2018	629
2019 and thereafter	182
Total expected amortization expense	$ 811

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Stock-Based Compensation - Incentive Plan Details (Details) - shares		1 Months Ended
	Jan. 01, 2015	Mar. 31, 2014	Aug. 31, 2010
2010 Plan
Stock-Based Compensation
Term of share incentive plan			10 years
Ordinary shares reserved for issuance			35,000,000
Amount that maximum number of ordinary shares available for issuance is reduced for every share issued pursuant to share option or share appreciation right			1
Amount that maximum number of ordinary shares available for issuance is reduced for every share issued as restricted shares or pursuant to restricted share units			1.75
2014 Plan
Stock-Based Compensation
Term of share incentive plan	10 years
Ordinary shares reserved for issuance		4,600,000
Number of additional shares for the plan		1,000,000
One-time percentage increase on January 1, 2015 for maximum aggregate number of shares which may be issued (as a percent)	10.00%

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Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Stock-based compensation
Stock-based compensation expense	$ 22,626	$ 15,795
Amortization period	4 years
Costs of revenues
Stock-based compensation
Stock-based compensation expense	$ 1,635	1,051
Sales and marketing
Stock-based compensation
Stock-based compensation expense	3,761	1,918
Product development
Stock-based compensation
Stock-based compensation expense	10,245	6,056
General and administrative
Stock-based compensation
Stock-based compensation expense	$ 6,985	$ 6,770

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Stock-Based Compensation - Number of Shares Available for Issuance (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2014	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Number of shares available for issuance
Outstanding number of shares available for issuance at the beginning of the period (in shares)		18,878,000
Granted (in shares)		(561,000)
Cancelled/expired/forfeited (in shares)		123,000
Outstanding number of shares available for issuance at the end of the period (in shares)		18,440,000		18,878,000
Aggregate Intrinsic Value
Fair value per ordinary share (in dollars per share)		$ 66.47		$ 40.60
2014 Plan
Number of shares available for issuance
Addition (in shares)	1,000,000
Stock options
Options Outstanding
Outstanding at the beginning of the period (in shares)		2,587,000
Exercise (in shares)		(1,744,000)
Cancelled/expired/forfeited (in shares)		(2,000)
Outstanding at the end of the period (in shares)		841,000		2,587,000
Vested and expected to vest at the end of the period (in shares)		835,000
Exercisable at the end of the period (in shares)		790,000
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)		$ 1.41
Exercise (in dollars per share)		0.80
Cancelled/expired/forfeited (in dollars per share)		3.49
Outstanding at the end of the period (in dollars per share)		2.67		$ 1.41
Vested and expected to vest at the end of the period (in dollars per share)		2.66
Exercisable at the end of the period (in dollars per share)		$ 2.62
Weighted Average Remaining Contractual Life (in years)
Outstanding at the end of the period		2 years		1 year 7 months 6 days
Vested and expected to vest at the end of the period		2 years
Exercisable at the end of the period		1 year 10 months 24 days
Aggregate Intrinsic Value
Outstanding at the end of the period		$ 53,626		$ 101,403
Vested and expected to vest at the end of the period		53,287
Exercisable at the end of the period		50,466
Total intrinsic value of options exercised		99,400
Cash received from the exercise of stock option		1,400	$ 2,100
Unrecognized compensation cost		$ 400
Weighted-average period of unrecognized compensation cost		4 months 24 days
Stock options | 2014 Plan
Options Outstanding
Granted (in shares)		0
Restricted share units
Number of shares available for issuance
Restricted shares units granted (in shares)		600,000

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Stock-Based Compensation - Summary of Option Activities (Details) - Stock options shares in Thousands	6 Months Ended
	Jun. 30, 2017 $ / shares shares
Range of Exercise Prices
Options Outstanding (in shares) | shares	841
Weighted Average Exercise Price (in dollars per share)	$ 0.39
Options Exercisable (in shares) | shares	791
Weighted Average Exercise Price (in dollars per share)	$ 2.62
Weighted Average Remaining Contractual Life (in years)	3 months 14 days
$0.36 - 0.41
Range of Exercise Prices
Exercise prices, outstanding stock option awards, low end of range (in dollars per share)	$ 0.36
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 0.41
Options Outstanding (in shares) | shares	151
Weighted Average Exercise Price (in dollars per share)	$ 0.38
Options Exercisable (in shares) | shares	151
Weighted Average Exercise Price (in dollars per share)	$ 0.36
Weighted Average Remaining Contractual Life (in years)	3 months
$0.96 - 1.80
Range of Exercise Prices
Exercise prices, outstanding stock option awards, low end of range (in dollars per share)	$ 0.96
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 1.80
Options Outstanding (in shares) | shares	69
Weighted Average Exercise Price (in dollars per share)	$ 0.97
Options Exercisable (in shares) | shares	69
Weighted Average Exercise Price (in dollars per share)	$ 0.97
Weighted Average Remaining Contractual Life (in years)	9 months
$3.25 - $3.36
Range of Exercise Prices
Exercise prices, outstanding stock option awards, low end of range (in dollars per share)	$ 3.25
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 3.36
Options Outstanding (in shares) | shares	278
Weighted Average Exercise Price (in dollars per share)	$ 3.33
Options Exercisable (in shares) | shares	278
Weighted Average Exercise Price (in dollars per share)	$ 3.33
Weighted Average Remaining Contractual Life (in years)	1 year 10 months 28 days
$3.43 - $3.50
Range of Exercise Prices
Exercise prices, outstanding stock option awards, low end of range (in dollars per share)	$ 3.43
Exercise prices, outstanding stock option awards, high end of range (in dollars per share)	$ 3.50
Options Outstanding (in shares) | shares	343
Weighted Average Exercise Price (in dollars per share)	$ 3.48
Options Exercisable (in shares) | shares	293
Weighted Average Exercise Price (in dollars per share)	$ 3.48
Weighted Average Remaining Contractual Life (in years)	3 years 1 month 6 days

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Stock-Based Compensation - Restricted Share Units (Details) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2017 USD ($) $ / shares shares
Performance-based restricted share units
Shares Granted
Outstanding at the beginning of the period (in shares) | shares	108
Awarded (in shares) | shares	155
Vested (in shares) | shares	(102)
Cancelled (in shares) | shares	(10)
Outstanding at the end of the period (in shares) | shares	151
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 27.00
Awarded (in dollars per share) | $ / shares	50.45
Vested (in dollars per share) | $ / shares	27.00
Cancelled (in dollars per share) | $ / shares	34.74
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 50.48
Unrecognized compensation cost | $	$ 5.0
Service-based restricted share units
Shares Granted
Outstanding at the beginning of the period (in shares) | shares	5,458
Awarded (in shares) | shares	406
Vested (in shares) | shares	(1,295)
Cancelled (in shares) | shares	(113)
Outstanding at the end of the period (in shares) | shares	4,456
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 17.23
Awarded (in dollars per share) | $ / shares	51.61
Vested (in dollars per share) | $ / shares	17.00
Cancelled (in dollars per share) | $ / shares	17.32
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 20.43
Unrecognized compensation cost | $	$ 76.3
Expected weighted-average recognition period for unrecognized compensation cost	2 years 8 months 12 days
Total fair value vested | $	$ 22.0

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Other Balance Sheet Components - Accounts Receivable (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Accounts receivable, net:
Total gross amount	$ 143,102,000		$ 122,583,000
Allowance for doubtful accounts:
Balance at the beginning of the year/period	(6,529,000)	$ (1,375,000)	(1,375,000)
Reversal (additional provision) charged to expenses, net	(4,086,000)	$ (1,252,000)	(7,787,000)
Write-off	2,186,000		2,633,000
Balance at the end of the year/period	(8,429,000)		(6,529,000)
Accounts receivable, net	134,673,000		116,054,000
Alibaba
Accounts receivable, net:
Total gross amount	19,187,000		24,293,000
Allowance for doubtful accounts:
Balance at the beginning of the year/period	0
Balance at the end of the year/period	0		0
Accounts receivable, net	19,187,000		24,293,000
Other related parties
Accounts receivable, net:
Total gross amount	36,076,000		31,589,000
Allowance for doubtful accounts:
Balance at the beginning of the year/period	(1,483,000)
Balance at the end of the year/period	(1,519,000)		(1,483,000)
Accounts receivable, net	34,557,000		30,106,000
Third parties
Accounts receivable, net:
Total gross amount	87,839,000		66,701,000
Allowance for doubtful accounts:
Balance at the beginning of the year/period	(5,046,000)
Balance at the end of the year/period	(6,910,000)		(5,046,000)
Accounts receivable, net	$ 80,929,000		$ 61,655,000

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Other Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Prepaid expenses and other current assets:
Rental and other deposits	$ 2,304	$ 3,965
Prepayment for investments	29,389	24,953
Advertising prepayment	3,144	5,267
Prepayment to outsourced service providers	5,134	4,043
Amounts deposited by users	22,026	21,203
Others	8,488	7,233
Prepaid expenses and other current assets	$ 70,485	$ 66,664

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Other Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property and equipment, net:
Property and equipment, gross	$ 109,546	$ 98,801
Less: Accumulated depreciation	(83,622)	(75,985)
Property and equipment, net	25,924	22,816
Computers and equipment
Property and equipment, net:
Property and equipment, gross	104,388	94,170
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	2,330	2,054
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	1,076	922
Other
Property and equipment, net:
Property and equipment, gross	$ 1,752	$ 1,655

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Other Balance Sheet Components - Accrued and other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued and other liabilities:
Payroll and welfare	$ 30,323	$ 33,786
Marketing expenses	43,664	40,968
Payroll withholding taxes	3,547	3,547
Sales rebates	40,434	31,598
Professional fees	4,559	4,255
VAT and other tax payable	68,714	35,728
Payable to other service providers	731	1,457
Amounts due to users	22,026	21,203
Others	6,982	7,600
Total accrued and other liabilities	$ 220,980	$ 180,142

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Income Taxes (Details) $ in Thousands		6 Months Ended		12 Months Ended
	Feb. 22, 2008	Jun. 30, 2017 USD ($) jurisdiction	Jun. 30, 2016 USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Income taxes
Number of taxable jurisdictions | jurisdiction		2
Components of loss before income taxes
Income before income tax expenses		$ 147,441	$ 33,925
Loss from non-China operations		(23,737)	(14,620)
Income from China operations		171,178	48,545
Income tax expense applicable to China operations		$ 27,679	$ 2,344
Effective tax rate for China operations (as a percent)		16.20%	4.80%
Cayman Islands
Components of loss before income taxes
Withholding income tax on dividends distributed by subsidiaries to its immediate holding entity outside China (as a percent)		0.00%
China
Components of loss before income taxes
Income tax rate (as a percent)		25.00%		25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%	25.00%
Withholding income tax on dividends distributed by subsidiaries to its immediate holding entity outside China (as a percent)		10.00%
Maximum percentage of withholding income tax on dividends distributed by subsidiaries to its immediate holding entity in Hong Kong		5.00%
Percentage of ownership interests held by foreign investors		25.00%
Percentage of withholding income tax on dividends distributed by PRC subsidiaries to its immediate holding company in Hong Kong		5.00%
China | Software enterprise
Components of loss before income taxes
Period of income tax exemption	2 years
Reduction in preferential tax rate (as a percent)	50.00%	50.00%
Preferential statutory rate (as a percent)	12.50%	12.50%
Period of reduced preferential income tax rate	3 years

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Related Party Transactions (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
SINA
Related party transactions
Revenue billed through SINA		$ 25,965	$ 13,301
Costs and expenses allocated from SINA		17,612	12,527
Other costs and expenses billed by SINA		10,400	11,100
Related party outstanding balance:
Due from related parties				$ 18,565
Amount due to SINA		2,885
Matching loan to SINA		61,360
Matching loan from SINA		60,831
SINA | The Company and its certain subsidiary entered into loan agreements with SINA and SINA's certain subsidiary
Related party transactions
Loan agreement term (in years)	1 year
SINA | U.S. Dollar-denominated Matching Loan from SINA
Related party transactions
Principal amount of loan from SINA		60,000
Interest expense on matching loan from SINA		831
SINA | RMB-denominated Matching Loan to SINA's Subsidiary
Related party transactions
Principal amount of loan to SINA's subsidiary		60,500
Interest income on matching loan to SINA		923
SINA | Short-term loan from SINA
Related party outstanding balance:
Amount due to SINA		2,000
Alibaba
Related party transactions
Advertising and marketing revenues from related party		20,987	23,969
Services provided by Alibaba		11,594	6,752
Related party outstanding balance:
Accounts receivable due from related parties		19,187		24,293
Other related parties
Related party transactions
Advertising and marketing revenues from related party		30,200	18,400
Other revenues from related party		1,900	300
Amount of promotional services from related parties		1,500	$ 4,500
Accrued and other liabilities due to other related parties		6,400		9,300
Related party outstanding balance:
Due from related parties		$ 34,600		$ 30,100

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Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income attributable to Weibo	$ 120,479	$ 32,955
Denominator:
Weighted average ordinary shares outstanding (in shares)	219,281	212,903
Basic net income per share attributable to Weibo (in dollars per share)	$ 0.55	$ 0.15
Numerator:
Net income attributable for calculating diluted net income per share	$ 120,479	$ 32,955
Denominator:
Weighted average ordinary shares outstanding (in shares)	219,281	212,903
Weighted average ordinary shares equivalents:
Shares used in computing diluted net income per share attributable to Weibo (in shares)	224,955	220,780
Diluted net income per share attributable to Weibo (in dollars per share)	$ 0.54	$ 0.15
Stock options
Weighted average ordinary shares equivalents:
Effects of dilutive securities (in shares)	1,839	5,318
Restricted share units
Weighted average ordinary shares equivalents:
Effects of dilutive securities (in shares)	3,835	2,559

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Segment Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($) segment	Jun. 30, 2016 USD ($)
Summary information by segment
Number of principal business segments | segment	2
Revenues	$ 452,574	$ 266,175
Advertising & Marketing
Summary information by segment
Revenues	387,637	226,419
Other
Summary information by segment
Revenues	$ 64,937	$ 39,756

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Financial Instruments - Fair Value Hierarchy (Details) - Financial instruments measured on a recurring basis - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value of Financial Instruments
Bank time deposits	$ 385,105	$ 31,188
Available-for-sale securities	4,373	5,274
Total	389,478	36,462
Quoted Prices in Active Market for Identical Assets (Level 1)
Fair Value of Financial Instruments
Available-for-sale securities	4,373	5,274
Total	4,373	5,274
Significant Other Observable Inputs (Level 2)
Fair Value of Financial Instruments
Bank time deposits	385,105	31,188
Total	385,105	31,188
Significant Unobservable Inputs (Level 3)
Fair Value of Financial Instruments
Bank time deposits	0	0
Available-for-sale securities	0	0
Total	$ 0	$ 0

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Financial Instruments -Recurring Basis (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Financial instruments measured on a recurring basis
Key inputs used in investor option liability valuation
Impairment loss for available-for-sale investments	$ 0	$ 0

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Financial Instruments - Non-recurring Basis (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Reconciliation of the fair value measurements using significant unobservable inputs
Investment related impairment	$ 1,384,000	$ 4,842,000
Non-recurring
Reconciliation of the fair value measurements using significant unobservable inputs
Investment related impairment	1,400,000	4,100,000
Non-recurring | Certain investments under cost method and equity method were measured using significant unobservable inputs
Reconciliation of the fair value measurements using significant unobservable inputs
Fair value of investments	$ 0	$ 0

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Commitments and Contingencies (Details)		3 Months Ended	6 Months Ended
	Aug. 28, 2017 item	Aug. 31, 2017 action	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)
Commitments and Contingencies
Lease expense			$ 4,800,000	$ 8,500,000
Operating lease commitments
Total			37,524,000
Less than One Year			8,728,000
One to Three Years			16,505,000
Three to Five Years			12,291,000
More than Five Years			0
Purchase commitments
Total			279,429,000
Less than One Year			242,570,000
One to Three Years			36,759,000
Three to Five Years			100,000
More than Five Years			0
Contingency
Accrued contingencies			$ 0
Two putative securities class actions
Contingency
Number of putative securities class actions filed in June and August 2017 | action		2
Number of purported shareholders filed motions to consolidate the cases (in sets) | item	2