Categories AlphaGraphs, Earnings, Technology

Weibo (WB) Q1 profit dips 65%, misses estimates

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.

Weibo (WB) Q1 2020 earnings review

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

Key highlights from Box (BOX) Q4 2021 earnings results

Box Inc. (NYSE: BOX) reported fourth quarter 2021 earnings results today. Revenues rose 8% year-over-year to $198.9 million. GAAP net loss was $4.9 million, or $0.03 per share, compared to

Infographic: Highlights of Hewlett Packard’s (HPE) Q1 2021 earnings report

Technology firm Hewlett Packard Enterprise Company (NYSE: HPE) reported higher earnings for the first quarter of 2021, despite a decrease in revenues. The numbers surpassed the consensus forecast. First-quarter earnings,

MercadoLibre (MELI): Here is a stock to have on your investment radar

MercadoLibre Inc. (NASDAQ: MELI) is one of the stocks that benefited from the COVID-19 pandemic. The Argentine ecommerce company has caught the attention of market experts as it garnered growth

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top