微博:2025年Q3净利降20%,阿里巴巴广告收入激增112%掩盖经营疲软

华尔街见闻
Nov 18, 2025

微博2025年Q3财报分析:AI驱动增长遇阻,投资收益掩盖经营疲软核心要点•财务表现:Q3净收入4.42亿美元,同比下降5%;广告收入3.75亿美元,同比下降6%;非GAAP净利润1.11亿美元,同比下降20%•用户数据:月活用户5.78亿,日活用户2.57亿,用户增长动能放缓•业务亮点:阿里巴巴广告收入4550万美元,同比激增112%;微博智搜保持强劲增长势头•盈利能力:经营利润率从30%降至...

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