Weibo Corp. Q4 Adj. EPS Top Estimates; Provides Weak Outlook - Quick Facts

(RTTNews) - Chinese social media company Weibo Corp. (WB) announced Thursday that net income attributable to Weibo for the fourth quarter was $95.07 million or $0.42 per share, sharply lower than $166.51 million or $0.73 per share in the prior-year quarter.

Adjusted net income for the quarter was $0.77 per share, compared to or $0.80 per share in the year-ago quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter declined 3 percent to $468.15 million from $481.88 million in the same quarter last year. Net revenue decreased 2 percent on a constant currency basis. Analysts were looking for revenues of $468.91 million for the quarter.

Looking ahead to the first quarter, Weibo estimates its net revenues to decrease 15 to 20 percent on a constant currency basis. This forecast reflects Weibo's current and preliminary view, which is subject to change. The Street is looking for revenues to decline 13.9 percent to $343.51 million for the quarter.

Weibo noted that its business has been significantly impacted by the coronavirus outbreak in China. Due to the high uncertainty of the evolving situation, the company has limited visibility on the full quarter revenue impact brought upon by the epidemic.