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Earnings Review and Free Research Report: Weibo’s Revenue Soared 72%; Net Income Rocketed 184%

Research Desk Line-up: Professional Diversity Network Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Weibo Corp. (NASDAQ: WB), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=WB, following the Company's disclosure of its second quarter fiscal 2017 financial results on August 09, 2017. The Chinese microblogging platform outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:


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Earnings Reviewed

For the second quarter of 2017, Weibo's net revenues surged 72% to $253.4 million compared to $146.9 million for Q2 2016. The Company's net revenues exceeded its own guidance for revenue between $240 million and $250 million and also analysts' expectations of $246 million.

Weibo's advertising and marketing revenues totaled $218.3 million for Q2 2017, up 72% compared to $127.2 million for Q2 2016. The Company's advertising and marketing revenues from small & medium-sized enterprises ("SMEs") and key accounts were $205.1 million, compared to $114.3 million for the prior year quarter. Weibo's other revenues totaled $35.0 million, compared to $19.7 million for Q2 2016.

During Q2 2017, Weibo's costs and expenses totaled $165.4 million compared to $119.6 million for Q2 2016. The rise in costs and expenses was primarily due to an increase in marketing expenses, turnover taxes, development costs, and stock-based compensation. The Company's non-GAAP costs and expenses were $153.3 million for the reported quarter compared to $112.2 million for the prior year's same quarter.

Weibo's income from operations for Q2 2017 was $88.0 million compared to $27.3 million for Q2 2016. The Company's non-GAAP income from operations was $100.1 million for the reported quarter compared to $34.7 million for the prior year's same quarter. For Q2 2017, Weibo's non-operating income was $1.5 million compared to a non-operating loss of $1.0 million for Q2 2016. The Company's income tax expenses were $16.4 million in the reported quarter compared to $1.8 million for the year ago same period, primarily due to higher profitability and the change in tax status of the Company's PRC subsidiary.

Net income attributable to Weibo was $73.5 million, or diluted net income per share of $0.33, for Q2 2017 compared to net income of $25.9 million, or diluted net income per share of $0.12, for Q2 2016. The Company's non-GAAP net income attributable to Weibo was $86.7 million, or diluted net income per share of $0.38, for the reported quarter compared to $35.5 million, or diluted net income per share of $0.16, for the year earlier same quarter. Results also beat Wall Street's estimates for earnings of $0.36 per share.

User Metrics

Weibo's monthly active users (MAUs) in June 2017 were 361 million, reflecting an increase of 28% on ay-o-y basis, 92% of which were mobile users. The Company's average daily active users (DAUs) in June 2017 totaled 159 million, up 26% on a y-o-y basis.

Cash Matters

As of June 30, 2017, Weibo's cash, cash equivalents, and short-term investments totaled $609.2 million. For Q2 2017, the Company's cash provided by operating activities was $157.2 million; capital expenditures totaled $2.5 million; and depreciation and amortization (D&A) expenses amounted to $3.5 million.

Business Outlook

For Q3 2017, Weibo is forecasting net revenues to be in the range of $290 million and $300 million, which assumes an average exchange rate of 6.75 RMB to US$1.00.

Stock Performance

On Wednesday, August 30, 2017, the stock closed the trading session at $97.90, slightly climbing 0.97% from its previous closing price of $96.96. A total volume of 1.74 million shares have exchanged hands. Weibo's stock price soared 32.05% in the last three months, 93.86% in the past six months, and 105.93% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 141.13%. The stock is trading at a PE ratio of 112.53. At Wednesday's closing price, the stock's net capitalization stands at $21.90 billion.

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SOURCE: Pro-Trader Daily