Keep Your Eyes on Stock News: Weibo Corporation (NASDAQ:WB)

On Thursday Weibo Corporation (NASDAQ:WB) stock price moved downward at -17.7%. Its total market capitalization is $9775520090. Its day lowest price was $43 and its hit its day highest price at $45.85. The stock recent volume is 13096036 shares in comparison to its average trading volume of 1557760 shares. Looking at the stock’s price level on the past 52-week graph, WB recorded a 52-week high of $74.68 and its 52-week low of $34.26.

On Nov. 14, 2019, Weibo Corporation (NASDAQ:WB) a leading social media in China, notified its unaudited financial results for the third quarter ended September 30, 2019.

We are pleased with the sustained momentum in our user and engagement growth, said Gaofei Wang, CEO of Weibo. Leveraging stronger network effect, ongoing product innovation and robust content ecosystem, Weibo continued to reinforce its leadership as a social media platform and further explore opportunities to deliver value to our community. On monetization, despite market competition and macro headwinds, we continued to tap into customers’ social ad wallet with differentiated ad products and KOL’s rising influence.

Third Quarter 2019 Highlights

  • Net revenues increased 2% year-over-year to $467.8 million, representing an increase of 6% on a constant currency basis.
  • Advertising and marketing revenues increased 1% year-over-year to $412.5 million.
  • Value-added service (VAS) revenues increased 9% year-over-year to $55.3 million.
  • Net income attributable to Weibo was $146.2 million, compared to $165.3 for the same period last year, and diluted net income per share was $0.64, compared to $0.73 for the same period last year.
  • Non-GAAP net income attributable to Weibo was $176.1 million, compared to $171.8 for the same period last year, and non-GAAP diluted net income per share was $0.77, compared to $0.75 for the same period last year.
  • Monthly active users (MAUs) were 497 million in September 2019, a net addition of approximately 51 million users year-over-year. Mobile MAUs represented approximately 94% of MAUs.
  • Average daily active users (DAUs) were 216 million in September 2019, a net addition of approximately 21 million users year-over-year.

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