Weibo Corp (ADR) (WB) reported quarterly earnings results on Wednesday, May-11-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.04. The company posted revenue of $119.30 million in the period, compared to analysts expectations of $113.58 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.
Many Wall Street Analysts have commented on Weibo Corp (ADR). JP Morgan Initiated Weibo Corp (ADR) on Feb 23, 2016 to “Overweight”, Price Target of the shares are set at $18.
Weibo Corp (ADR) opened for trading at $21.95 and hit $23.4 on the upside on Tuesday, eventually ending the session at $23.18, with a gain of 7.56% or 1.63 points. The heightened volatility saw the trading volume jump to 13,67,719 shares. Company has a market cap of $4,918 M.
Weibo Corporation is a social media platform for people to create distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services. It offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; discovery products to help users discover content on its platform and notifications to notify users on Weibo account activities through short message service (SMS) or push notification on their device. It offers advertising and marketing solutions to enable its customers to promote their brands and conduct marketing activities. It offers its platform partners with tools and application programming interfaces (APIs).