Weibo's stock plunges after earnings beat, but revenue guidance is below expectations [MarketWatch]
Weibo Corporation - American Depositary Shares (WB)
Last weibo corporation - american depositary shares earnings: 2/26 05:00 am
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Source: MarketWatch
Weibo's stock plunges after earnings beat, but revenue guidance is below expectations Shares of Weibo Corp. WB, -15.95% plunged 14% toward a more than 2-year low in premarket trade Thursday, after the China-based social media company beat first-quarter profit expectations but provided second-quarter revenue outlook that was below analyst projections. Net income rose to $150.4 million, or 66 cents a share, from $99.1 million, or 44 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to 56 cents from 50 cents, to beat the FactSet consensus of 53 cents. Revenue rose 14% to $399.2 million, just shy of the FactSet consensus of $399.5 million. Monthly active users increased about 13% to 465 million at the end of March. For the second quarter, the company expects revenue of $427 million to $437 million, compared with the FactSet consensus of $482.1 million. Weibo said its outlook reflects currency translation risks, and assumes an average exchange rate
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News
- Weibo Files its Annual Report on Form 20-FPR Newswire
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- Weibo Publishes 2023 Environmental, Social and Governance ReportPR Newswire
- Weibo to Hold Annual General Meeting on May 22, 2024PR Newswire
- Weibo Co. (NASDAQ: WB) had its "neutral" rating re-affirmed by analysts at The Goldman Sachs Group, Inc.. They now have a $10.60 price target on the stock.MarketBeat
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Earnings
- 3/14/24 - Miss
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Sec Filings
- 4/25/24 - Form 6-K
- 4/25/24 - Form 20-F
- 4/8/24 - Form 6-K
- WB's page on the SEC website