Weibo Q4 Profit Tops Estimates

(RTTNews) - Weibo Corporation (WB) reported fourth quarter non-GAAP net income per share of $0.92, compared to $0.77, last year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.74, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net revenues were $513.4 million, an increase of 10% year-over-year or an increase of 3% year-over-year on a constant currency basis. Analysts expected revenue of $499.05 million, for the quarter. Advertising and marketing revenues were $453.5 million, an increase of 12%.

Monthly active users were 521 million in December 2020, a net addition of approximately 5 million users on year-over-year basis. Average daily active users were 225 million in December 2020, a net addition of approximately 3 million users on year-over-year basis.

For the first quarter, Weibo expects net revenues to increase by 25% to 30% year-over-year on a constant currency basis.