Weibo Corp reported a fiscal third-quarter revenue growth of 5% year-on-year to $464.48 million, exceeding analyst expectations, fuelled by strong advertising and VAS performance.
CEO Gaofei Wang noted, 'Our efforts to attract and engage high-quality users are showing results, as the advertising business stabilizes and key sectors experience revenue growth due to the Olympics.'
Despite a decline in monthly active users, Weibo's value-added services grew 25% year-on-year, driven by enhanced membership offerings that improved social interactions.
Weibo's adjusted EPS of 53 cents surpassed the consensus estimate and reflected a stable performance despite challenges, with the stock gaining following the earnings report.
Collection
[
|
...
]