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
Key takeaways from Cintas’ (CTAS) third-quarter 2023 report
Cintas Corporation (NASDAQ: CTAS) has been growing its market share by diversifying into new areas and through acquisitions. The prudent business model, with a focus on recurring revenues, has helped
Here are a few points to keep in mind if you are considering Starbucks Corporation (SBUX)
Shares of Starbucks Corporation (NASDAQ: SBUX) stayed in green on Thursday. The stock has gained 10% over the past 12 months. The company delivered healthy results for its most recent
ANGO Earnings: AngioDynamics reports loss for Q3; revenue up 9%
AngioDynamics Inc. (NASDAQ: ANGO) on Thursday reported a wider loss for the third quarter when the medical device maker's revenues increased by 9%. The company also provided guidance for fiscal