Weibo Corp. Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Weibo Corp. (WB), a leading social media in China, said it delivered strong user performance in the second quarter of 2019. Average daily active users were 211 million in June 2019, a net addition of approximately 21 million users year-over-year. Monthly active users were 486 million in June 2019, a net addition of approximately 55 million users year-over-year.

For the second-quarter, non-GAAP net income attributable to Weibo was $156.4 million, and non-GAAP net income per share was $0.68, both flat year-over-year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.59, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net revenues increased 1% year-over-year to $431.8 million, an increase of 7% on a constant currency basis. Analysts expected revenue of $429.25 million for the quarter. Advertising and marketing revenues were $370.7 million, flat with prior year.

For the third quarter of 2019, Weibo estimates its net revenues to increase 6% year-over-year to 9% year over year on a constant currency basis.