Chinese Social Media Stock Weibo Climbs On Thursday, What's Going On?
Portfolio Pulse from Anusuya Lahiri
Weibo Corp (NASDAQ: WB) reported Q4 fiscal 2023 revenue of $463.67 million, a 3% Y/Y increase, surpassing consensus estimates. Adjusted EPS was $0.31, missing the consensus of $0.50. The company announced a special dividend of $0.82 per share. MAUs and DAUs increased to 598 million and 257 million, respectively. Weibo's stock climbed 5.77% in premarket trading. Exposure to Weibo can also be gained through KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) and Fidelity Metaverse ETF (NASDAQ:FMET).
March 14, 2024 | 9:50 am
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POSITIVE IMPACT
FMET ETF, which provides exposure to Weibo, might benefit from Weibo's reported revenue growth and special dividend announcement.
Given FMET's exposure to Weibo, the positive news from Weibo's earnings report and dividend announcement may positively influence FMET's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
KWEB ETF offers exposure to Weibo, which reported a revenue increase and announced a special dividend, potentially impacting KWEB positively.
As KWEB includes Weibo in its holdings, Weibo's positive earnings report and dividend announcement could attract more investors to KWEB, potentially increasing its value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Weibo reported higher than expected Q4 revenue but missed EPS estimates. Announced a special dividend, and showed user growth. Stock price increased by 5.77% in premarket trading.
The positive revenue report and the announcement of a special dividend likely contributed to the stock's premarket increase, despite missing EPS estimates. The user growth indicates a strong market presence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100