Weibo Q3 Profit Tops Estimates

(RTTNews) - Weibo Corporation (WB) reported third quarter non-GAAP net income per share of $0.66, compared to $0.77, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.60, for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $465.7 million, flat year-over-year or a decrease of 4% year-over-year on a constant currency basis. Analysts expected revenue of $449.26 million, for the quarter.

Monthly active users were 511 million in September 2020, a net addition of approximately 14 million users on year-over-year basis.

For the fourth quarter of 2020, Weibo estimates its net revenues to increase by 1% to 3% year-over-year on a constant currency basis.