Why Weibo Shares Are Gaining Today
Portfolio Pulse from Anusuya Lahiri
Weibo Corp reported a 15% YoY decline in Q1 FY23 revenue to $413.8 million, slightly missing the consensus of $414.4 million. Advertising and marketing revenues fell 17% YoY, while value-added service revenues increased 2% YoY. The company's board approved a special cash dividend of $0.85 per share, and the stock traded higher by 1.99% in the premarket session.
May 25, 2023 | 10:35 am
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Weibo's Q1 FY23 revenue declined 15% YoY, slightly missing consensus. The board approved a special cash dividend of $0.85 per share, and the stock traded higher by 1.99% in the premarket session.
Weibo's Q1 revenue decline and slight miss on consensus may have a negative impact on the stock. However, the approval of a special cash dividend of $0.85 per share is a positive development for investors, which could drive the stock price up. The stock's 1.99% increase in the premarket session indicates a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100