Weibo Q1 Loss Narrows; Issues Q2 Revenue Guidance - Quick Facts

(RTTNews) - Weibo Corp. (WB), a leading social media in China, reported a net loss for the first quarter of 2015 of $2.8 million, compared to a net loss of $47.4 million for the same period last year. Net loss per share was $0.01, compared to a loss of $0.31. Non-GAAP net income attributable to shareholders was $2.9 million, or $0.01 per share, for the quarter.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.01 for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $96.3 million, compared to $67.5 million for the same period last year. Analysts expected revenue of $94.64 million for the quarter. Advertising and marketing revenues increased 53% year over year to $79.2 million.

For the second quarter of 2015, Weibo estimates that its net revenues to be between $102 million and $105 million. Analysts expect the company to report second-quarter revenue of $111.39 million.