Shares of Weibo Corp. plunged 14% toward a more than 2-year low in premarket trade Thursday, after the China-based social media company beat first-quarter profit expectations but provided second-quarter revenue outlook that was below analyst projections. Net income rose to $150.4 million, or 66 cents a share, from $99.1 million, or 44 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to 56 cents from 50 cents, to beat the FactSet consensus of 53 cents. Revenue rose 14% to $399.2 million, just shy of the FactSet consensus of $399.5 million. Monthly active users increased about 13% to 465 million at the end of March. For the second quarter, the company expects revenue of $427 million to $437 million, compared with the FactSet consensus of $482.1 million. Weibo said its outlook reflects currency translation risks, and assumes an average exchange rate of 6.90 renminbi per dollar; the current rate is RMB 6.92. The stock, which is on track to open at the lowest price seen during regular-session hour since January 2017, has tumbled 25.3% over the past three months through Wednesday, while the Invesco Golden Dragon China ETF has lost 7.0% and the S&P 500 has gained 2.3%.