WEIBO Corp (WB) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	20-F	20-F	20-F	20-F	20-F	20-F	20-F	20-F
Revenues:
Advertising and marketing revenues				1,499.2
Other								69.4
Advertising & Marketing					996.7	571.0	402.4	264.8
Value-added services				219.3	153.3	84.8	75.5
Total revenues [+]	2,257.1	1,689.9	1,766.9	1,718.5	1,150.1	655.8	477.9	265.3
Advertising							402.4
Revenue growth [+]	33.6%	-4.4%	2.8%	49.4%	75.4%	37.2%	80.2%	78.2%
Other								74.0%
Advertising & Marketing					74.6%	41.9%	52.0%	78.4%
Value-added services				43.1%	80.8%	12.4%
Cost of goods sold	403.8	302.2	328.8	277.6	231.3	171.2	142.0	83.6
Gross profit	1,853.2	1,387.8	1,438.1	1,440.9	918.8	484.6	335.9	181.7
Gross margin	82.1%	82.1%	81.4%	83.8%	79.9%	73.9%	70.3%	68.5%
Selling, general and administrative [+]	725.2	556.8	556.1	571.2	317.9	189.5	155.0	146.8
Sales and marketing	591.7	455.6	465.3	527.4	275.5	148.3	126.1	120.4
General and administrative	133.5	101.2	90.7	43.8	42.3	41.2	28.9	26.5
Research and development	430.7	324.1	284.4	249.9	193.4	154.1	143.4
Equity in earnings	14.2	10.4	-13.2	0.1	1.0	-0.1	0.0
Other operating expenses								152.9
EBITDA [+]	766.6	549.3	610.2	639.7	423.9	154.8	58.4	-95.0
EBITDA growth	39.6%	-10.0%	-4.6%	50.9%	173.8%	164.9%	-161.5%	-2079.8%
EBITDA margin	34.0%	32.5%	34.5%	37.2%	36.9%	23.6%	12.2%	-35.8%
Depreciation	32.8	26.4	22.4	18.5	14.7	13.3	19.5	21.9
EBITA	733.8	522.9	587.8	621.2	409.2	141.6	39.0	-116.9
EBITA margin	32.5%	30.9%	33.3%	36.1%	35.6%	21.6%	8.2%	-44.1%
Amortization of intangibles	22.2	5.7	3.4	1.3	0.6	0.7	1.5	1.2
EBIT [+]	711.6	517.2	584.4	619.9	408.6	140.9	37.5	-118.1
EBIT growth	37.6%	-11.5%	-5.7%	51.7%	190.1%	275.6%	-131.8%	605.9%
EBIT margin	31.5%	30.6%	33.1%	36.1%	35.5%	21.5%	7.8%	-44.5%
Non-recurring items [+]				10.6				-47.0
Asset impairment				10.6
Interest income, net [+]	6.3	28.4	55.5	42.6	19.5	7.6	5.5	8.3
Interest expense	71.0	57.4	29.9	15.4
Interest income	77.3	85.8	85.4	58.0	19.5	7.6	5.5	8.3
Other income (expense), net	-167.2	-169.7	-37.5	16.9	-11.0	-38.5	-6.2	-1.5
Pre-tax income	550.7	375.9	602.4	668.8	417.1	110.0	36.8	-64.3
Income taxes	138.8	61.3	109.6	96.2	66.7	4.3	2.6	1.1
Tax rate	25.2%	16.3%	18.2%	14.4%	16.0%	3.9%	7.0%
Minority interest	-16.4	1.2	-1.8	0.8	-2.2	-2.4	-0.6	-0.1
Net income	428.3	313.4	494.7	571.8	352.6	108.0	34.7	-65.3
Net margin	19.0%	18.5%	28.0%	33.3%	30.7%	16.5%	7.3%	-24.6%

Basic EPS [+]	$1.87	$1.38	$2.19	$2.56	$1.60	$0.50	$0.17	($0.35)
Growth	35.6%	-37.1%	-14.1%	59.9%	217.8%	201.4%	-147.7%	29.0%
Diluted EPS [+]	$1.86	$1.38	$2.18	$2.46	$1.56	$0.48	$0.16	($0.35)
Growth	35.2%	-37.0%	-11.1%	57.1%	222.8%	204.0%	-145.6%	29.0%

Shares outstanding (basic) [+]	228.8	226.9	225.5	223.8	220.6	214.7	208.2	186.9
Growth	0.8%	0.7%	0.8%	1.4%	2.7%	3.2%	11.4%	27.3%
Shares outstanding (diluted) [+]	230.2	227.6	226.4	232.7	225.4	222.9	217.9	186.9
Growth	1.1%	0.5%	-2.7%	3.2%	1.1%	2.3%	16.6%	27.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.