Categories AlphaGraphs, Earnings, Technology
Earnings Infographic: Highlights of Weibo’s Q3 2022 results
Weibo Corporation (NASDAQ: WB) on Thursday reported a sharp decline in revenues and adjusted earnings for the third quarter of 2022, despite a modest increase in the number of users.
The China-based social networking company reported adjusted profit of $0.50 per share for the most recent quarter, down 44% from the year-ago period. On an unadjusted basis, it incurred a net loss of $17.1 million or $0.07 per share, compared to net income of $181.7 million or $0.78 per share last year.
The bottom line was hurt by a 25% decrease in revenues to $453.6 million. At the end of the quarter, Weibo had around 584 million monthly active users and 253 million daily active users.
Check this space to read management/analysts’ comments on quarterly reports
“In the third quarter, our user community and engagement remained solid, as we continued to improve operation efficiency on the user front. As our business entered into a gradual recovery trajectory, we continued to optimize cost structure to improve operating efficiency and cash generation capability, aiming to remain competitive in the long-run,” said Weibo’s CEO Gaofei Wang.
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Infographic: Highlights of Halliburton’s (HAL) Q1 2024 earnings results
Energy giant Halliburton Company (NYSE: HAL) Tuesday announced financial results for the first quarter of 2024, reporting lower earnings and a modest increase in revenues. First-quarter revenue edged up 2%
UPS Earnings: United Parcel Service Q1 2024 revenue and earnings fall
United Parcel Service, Inc. (NYSE: UPS) Tuesday reported lower revenues and adjusted profit for the first quarter of 2024. The company reaffirmed its full-year 2024 guidance. On an adjusted basis,
Key highlights from Philip Morris’ (PM) Q1 2024 earnings results
Philip Morris International Inc. (NYSE: PM) reported first quarter 2024 earnings results today. Net revenues increased 9.7% year-over-year to $8.8 billion. Organic revenue growth was 11%. Net earnings attributable to