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.

Weibo Q3 2022 earnings infographic

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.


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