Notable News to Watch: Weibo Corporation (NASDAQ:WB)

Weibo Corporation (NASDAQ:WB) stock observed trading -55.38% off 52-week high price. On the other end, the stock has been noted 2.95% away from low price over the last 52-weeks. The stock disclosed a move of -7.56% away from 50 day moving average and -30.30% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.42% off 20-day moving average. It has market cap of $9075.76M.

On Aug.19, 2019, Weibo Corporation (NASDAQ:WB) a leading social media in China, revealed its unaudited financial results for the second quarter ended June 30, 2019.

Weibo delivered strong user performance this quarter, said Gaofei Wang, CEO of Weibo. We are delighted to see a notable acceleration in user growth from prior quarter and robust user engagement trends, underpinned by our strengthened social network effect as well as the consistent efforts in user product upgrade and optimization. On monetization, we continued to showcase unique value proposition to advertisers, leveraging the ongoing ad product evolution to mobile, social and video, said Mr. Wang.

Second Quarter 2019 Highlights

  • Net revenues increased 1% year-over-year to $431.8 million, representing an increase of 7% on a constant currency basis .
  • Advertising and marketing revenues were $370.7 million, flattish year-over-year.
  • Value-added service (VAS) revenues increased 8% year-over-year to $61.2 million.
  • Net income attributable to Weibo was $103.0 million, compared to $140.9 for the same period last year, and diluted net income per share was $0.46, compared to $0.62 for the same period last year.
  • Non-GAAP net income attributable to Weibo was $156.4 million, and non-GAAP diluted net income per share was $0.68, both flat year-over-year.
  • Monthly active users (MAUs) were 486 million in June 2019, a net addition of approximately 55 million users year-over-year. Mobile MAUs represented approximately 94% of MAUs.
  • Average daily active users (DAUs) were 211 million in June 2019, a net addition of approximately 21million users year-over-year.

The China based company Weibo Corporation moved with change of 0.22% to $40.16 with the total traded volume of 1541998 shares in recent session versus to an average volume of 2156.2K. The stock was observed in the 5 days activity at 1.16%. The one month performance of stock was -8.52%. WB’s shares are at -40.72% for the quarter and driving a -54.36% return over the course of the past year and is now at -31.27% since this point in 2018.  Right now the stock beta is 2.19. The average volatility for the week and month was at 2.51% and 3.14% respectively. There are 225.99M shares outstanding and 17M shares are floated in market.

Leave a Reply

Your email address will not be published. Required fields are marked *