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Aug 22, 2024 7:30 AM

China's Micro-blogging Platform Weibo Q2 Earnings: Revenue And Profit Beat, Ad Revenue Drops, Daily Active Users Fall Marginally

Weibo Corp (NASDAQ: WB) reported a fiscal second-quarter revenue decline of 1% year-on-year to $437.87 million, beating the analyst consensus estimate of $436.95 million. The Chinese microblogging social network company’s revenue grew by 1% year-on-year on a constant basis.

Adjusted EPS of $0.48 beat the analyst consensus estimate of $0.41. The stock price gained after the results.

Weibo's advertising and marketing revenues declined by 3% Y/Y at $375.3 million. Value-added service (VAS) revenues increased 15% Y/Y to $62.6 million.

Monthly active users (MAUs) were 583 million in June 2024 ...