Weibo Corporation (NASDAQ: WB) reported a 65% dip in earnings for the first quarter of 2020 due to lower revenue from advertising and marketing as well as from value-added service. The results were adversely impacted by the coronavirus pandemic on the overall advertising demand as well as negative currency translation impact.
The monthly active users were 550 million in March 2020, a net addition of about 85 million users on a year-over-year basis. The average daily active users were 241 million in March 2020, a net addition of about 38 million users on a year-over-year basis.
For the second quarter of 2020, Weibo estimates its net revenues to decrease by 7% to 12% year-over-year on a constant currency basis. The company will continue to focus on optimizing ad products and enhancing ad performance for advertisers to further tap into advertisers’ social ad wallet and improve its monetization efficiency.
Past Performance
Take a look at our Technology articles here
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was