Weibo (NASDAQ: WB) reported Q4 EPS of $0.92, $0.18 better than the analyst estimate of $0.74. Revenue for the quarter came in at $513.4 million versus the consensus estimate of $499.05 million.

Fourth Quarter 2020 Highlights

• Net revenues were $513.4 million, an increase of 10% year-over-year or an increase of 3% year-over-year on a constant currency basis[1].
• Advertising and marketing revenues were $453.5 million, an increase of 12% year-over-year.
• Value-added service ("VAS") revenues were $59.9million, a decrease of 4% year-over-year.
• Income from operations was $181.6 million, representing an operating margin of 35%.
• Non-GAAP income from operations was $204.1 million, representing a non-GAAP operating margin of 40%.
• Net income attributable to Weibo was $29.0 million and diluted net income per share was $0.13.
• Non-GAAP net income attributable to Weibo was $212.7 million and non-GAAP diluted net income per share was $0.92.
• Monthly active users ("MAUs") were 521 million in December 2020, a net addition of approximately 5 million users on year-over-year basis. Mobile MAUs represented 94% of MAUs.
• Average daily active users ("DAUs") were 225 million in December 2020, a net addition of approximately 3 million users on year-over-year basis.

"We ended the year of 2020 on a solid note," said Gaofei Wang, CEO of Weibo. "During the unprecedented times in 2020, Weibo has demonstrated its indispensable value as China's leading social media platform to serve public conversations, and further enriched our video and community product offerings. On monetization, we are pleased to see our revenue and profit return to a solid growth trajectory in the fourth quarter. Entering into 2021, Weibo is well positioned to capture incremental ad wallet, leveraging the accelerated digitalization of brick-and-mortar, our differentiated social ad offerings and revamped bidding system," Mr. Wang concluded.

Business Outlook

For the first quarter of 2021, Weibo estimates its net revenues to increase by 25% to 30% year-over-year on a constant currency basis. This forecast reflects Weibo's current and preliminary view, which is subject to change.

For earnings history and earnings-related data on Weibo (WB) click here.