Weibo Board Authorizes Share Repurchase Program - Quick Facts

(RTTNews) - Weibo Corporation (WB) announced its board of directors has authorized a share repurchase program under which the company may repurchase up to $500 million of its American depositary shares over the next 12 months, ending on March 31, 2023. Weibo expects to fund the repurchases out of its existing cash balance. ? Weibo is a social media for people to create, share and discover content online. The company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings.