China's Micro-blogging Platform Weibo Q2 Earnings: Revenue And Profit Beat, Ad Revenue Drops, Daily Active Users Fall Marginally
Portfolio Pulse from Anusuya Lahiri
Weibo Corp (NASDAQ: WB) reported better-than-expected Q2 earnings with a slight revenue decline. Despite a drop in ad revenue and daily active users, the company saw improved user engagement and operating efficiency. The stock rose 2.28% premarket.
August 22, 2024 | 11:16 am
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Weibo Corp reported Q2 earnings that beat analyst expectations, with adjusted EPS of $0.48 surpassing the $0.41 estimate. Despite a 1% revenue decline, the stock rose 2.28% premarket. Ad revenue fell, but value-added services grew, and user engagement improved.
Weibo's Q2 earnings exceeded expectations, leading to a positive market reaction with a 2.28% premarket stock increase. The decline in ad revenue was offset by growth in value-added services and improved user engagement, contributing to investor optimism.
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