Weibo (WB) Tops Q1 EPS by 3c, Revenues Beat

Weibo (NASDAQ: WB) reported Q1 EPS of $0.50, $0.03 better than the analyst estimate of $0.47. Revenue for the quarter came in at $349.9 million versus the consensus estimate of $342.39 million.

First Quarter 2018 Highlights

• Net revenues totaled $349.9 million, an increase of 76% year-over-year, exceeding the Company's guidance between $335 million and $345 million.
• Advertising and marketing revenues were $302.9 million, an increase of 79% year-over-year.
• Value-added service ("VAS") revenues were $46.9 million, an increase of 57% year-over-year.
• Net income attributable to Weibo was $99.1 million, an increase of 111% year-over-year, and diluted net income per share was $0.44, compared to $0.21 for the same period last year.
• Non-GAAP net income attributable to Weibo was $112.6 million, an increase of 95% year-over-year, and non-GAAP diluted net income per share was $0.50, compared to $0.26 for the same period last year.
• Adjusted EBITDA was $124.6 million, an increase of 77% year-over-year, or 36% of net revenues, compared to 35% for the same period last year.
• Monthly active users ("MAUs") had a net addition of approximately 70 million users year over year and reached 411 million in March 2018. Mobile MAUs represented 93% of MAUs.
• Average daily active users ("DAUs") had a net addition of approximately 30 million users year over year and reached 184 million in March 2018.

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

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