Chinese Twitter Peer Weibo Boasts Stronger User Base and Welcomes Alibaba Executive to Board
Portfolio Pulse from Anusuya Lahiri
Weibo Corp reported a 2% YoY decline in Q2 FY23 revenue to $440.2 million, slightly missing the consensus of $440.9 million. Advertising and marketing revenues were flat YoY at $385.7 million, while VAS revenues decreased 16% YoY to $54.6 million. Monthly active users increased by 17 million YoY to 599 million in June 2023. The company elected Mr. Bo Liu, President of Alibaba Group's Taobao and Tmall Group, as a director.
August 24, 2023 | 12:19 pm
News sentiment analysis
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NEUTRAL IMPACT
Alibaba executive Bo Liu has been elected to the board of Weibo.
While the news is relevant to Alibaba as it involves one of its executives, it's unlikely to have a significant impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 30
RELEVANCE 50
NEUTRAL IMPACT
Weibo's Q2 FY23 revenue slightly missed consensus, but MAUs increased significantly. The company also welcomed Alibaba executive Bo Liu to its board.
Weibo's revenue miss is a negative, but the increase in MAUs and the addition of an Alibaba executive to the board could be seen as positives. The net impact on the stock is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100