Weibo Beats Q1 Revenue And EPS Estimates Despite Yearly Decline - What's On The Cards?
Portfolio Pulse from Anusuya Lahiri
Weibo Corp (NASDAQ: WB) reported a fiscal Q1 2024 revenue decline of 4% year-on-year to $395.5 million, beating analyst estimates. Adjusted EPS of $0.41 also surpassed expectations. Despite declines in advertising and VAS revenues, the stock price gained post-results. Monthly active users were slightly down, but daily active users increased. The company held $3.3 billion in cash and equivalents and generated $139.6 million in operating cash flow. Weibo stock lost 46% in the last 12 months. Investors can gain exposure via IShares MSCI China Small-Cap ETF (NYSE: ECNS) and Fidelity Metaverse ETF (NASDAQ: FMET).
May 23, 2024 | 12:53 pm
News sentiment analysis
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POSITIVE IMPACT
IShares MSCI China Small-Cap ETF (ECNS) may see a positive impact due to Weibo's better-than-expected Q1 results, as Weibo is part of its holdings.
Weibo's positive earnings report could boost the performance of ECNS, which includes Weibo in its portfolio. The ETF may see a short-term uptick as a result.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Fidelity Metaverse ETF (FMET) might experience a positive impact due to Weibo's strong Q1 performance, as Weibo is part of its holdings.
Weibo's better-than-expected earnings could positively influence FMET, which holds Weibo in its portfolio. The ETF might see a short-term positive impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Weibo Corp reported better-than-expected Q1 2024 revenue and EPS, leading to a stock price increase. Despite a yearly revenue decline, the company showed improved operating margins and cash flow.
Weibo's better-than-expected financial performance, despite a yearly decline, led to a positive market reaction. The company's improved operating margins and strong cash flow further support a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100