Weibo (WB) Tops Q1 EPS by 3c

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Weibo Reports First Quarter 2016 Financial Results

May 11, 2016 4:31 PM EDT

BEIJING, May 11, 2016 /PRNewswire/ -- Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB), a leading social media in China, today announced its unaudited financial results for the first quarter ended March 31, 2016.

First Quarter 2016 Highlights

Net revenues increased 24% year over year to $119.3 million, exceeding the Company's guidance between $111 million and $116 million. Advertising and marketing revenue increased 25% year over year to $99.2 million. Weibo Value-Added Services ("VAS") revenue increased 17% year over year to $20.0 million. Net income attributable to Weibo was $7.1 million,... More