Weibo Q2 Results Top Estimates

(RTTNews) - Weibo Corp. (WB) reported that its net income attributable to the company for the second quarter of 2021 declined to $81.0 million or $0.35 per share, from $198.4 million or $0.86 per share last year.

Non-GAAP net income per share was $0.79, compared to $0.50 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenues were $574.5 million, an increase of 48% compared to $387.4 million for the same period last year. Analysts expected revenue of $527.89 million for the quarter.

The company has appointed Yan Wang as a member of the compensation committee of the Board, replacing Christopher Lu, who resigned from the compensation committee of the Board, both effective immediately.

For the third quarter of 2021, Weibo estimates its net revenues to increase by 20% to 25% year-over-year on a constant currency basis.