Weibo Q1 Profit Tops Estimates

(RTTNews) - Weibo Corp. (WB) reported first quarter non-GAAP net income per share of $0.56, compared to $0.57, last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Net loss attributable to Weibo was $67.5 million, compared to an income of $49.8 million, last year. Net loss per share was $0.29, compared to a net income per share of $0.22.

Net revenues were $484.6 million, an increase of 6% year-over-year or an increase of 3% on a constant currency basis. Advertising and marketing revenues were $427.1 million, an increase of 10% year-over-year. Analysts on average had estimated $473.98 million in revenue.

Monthly active users or MAUs were 582 million in March 2022, a net addition of approximately 51 million users on a year-over-year basis. Mobile MAUs represented 95% of MAUs. Average daily active users were 252 million in March 2022, a net addition of approximately 22 million users on a year-over-year basis.