Weibo Corp (ADR) (WB) announced its most recent quarterly financial results on Monday, Nov-21-2016. WB said it had a profit of $0.24 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.20. The company posted revenue of $176.90 million in the period, compared to analysts expectations of $173.42 million. WB’s revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Many Wall Street Analysts have commented on Weibo Corp (ADR). Company shares were Reiterated by T.H. Capital on Oct 7, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $38 .Weibo Corp (ADR) was Resumed by JP Morgan to “Overweight” on Aug 31, 2016.
Weibo Corp (ADR) closed down -0.48 points or -1.07% at $44.28 with 18,54,456 shares getting traded on Monday. Post opening the session at $44.59, the shares hit an intraday low of $43.05 and an intraday high of $44.8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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).