On Tuesday, Shares of Weibo Corp (ADR)(NASDAQ:WB), gains 23.52 percent and now trading at $77.66. The 52-week range of the share price is from $22.13 – $78.10. The beta value for this stock stands at 2.55 points, while its earnings per share (EPS) is $0.48. The company has total market capitalization of $17.06B and a total of 109.16M outstanding shares.
Weibo Corporation, a most important social media in China, recently declared its unaudited financial results for the 1st– quarter finished March 31, 2017.
1st- Quarter 2017 Highlights:
Net revenues totaled $199.20M, a increase of 67.00 percent yoy, surpassing the Company’s guidance between $185.00M and $190.00M.
Advertising and marketing revenues were $169.30M, a increase of 71.00 percent yoy.
Other revenues were $29.90M, a increase of 49.00 percent yoy.
Net income attributable to Weibo was $46.90M, a increase of 561.00 percent yoy, and diluted net income per share was $0.210, contrast to $0.030 for the similar period last year.
Non-GAAP net income attributable to Weibo was $57.80M, a increase of 254.00 percent yoy, and non-GAAP diluted net income per share was $0.260, contrast to $0.070 for the similar period last year.
Adjusted EBITDA was $70.50M, a increase of 272.00 percent yoy, or 35.00 percent of net revenues, contrast to 16.00 percent for the similar period last year.
Monthly active consumers (“MAUs”) in March 2017 was 340.00M, a increase of 30.00 percent yoy, 91.00 percent of which were mobile users. Average daily active consumers in March 2017 was 154.00M, a increase of 28.00 percent yoy.
“Our relentless concentrate to build the best social media experience in China is reflected in Weibo’s strong performance in the 1st– quarter of 2017, with revenues rising 67.00 percent yoy, or 76.00 percent on a constant currency basis, adjusted EBITDA margin reaching 35.00 percent and MAUs reaching 340.00M,” said Gaofei Wang, Weibo’s CEO. “Looking forward, we carry on to see strong momentum, as we further optimize Weibo to share, find out and consume information, especially for the mobile, social and video environment.”
1st- Quarter 2017 Financial Results:
- For the 1st- quarter of 2017, Weibo stated net revenues of $199.20M, contrast to $119.30M for the similar period last year. Advertising and marketing revenues totaled $169.30M, contrast to $99.20M for the similar period last year; and advertising and marketing revenues from small & medium-sized enterprises (“SMEs”) and key accounts were $161.50M, contrast to $88.10M for the similar period last year. Other revenues totaled $29.90M, contrast to $20.00M for the similar period last year.
- Costs and expenses for the 1st- quarter of 2017 totaled $143.40M, contrast to $112.10M for the similar period last year. Non-GAAP costs and expenses were $132.50M, contrast to $103.40M for the similar period last year. The increase in non-GAAP costs and expenses was mainly because of a increase in marketing expenditures, in addition to a boost in turnover taxes resulting from higher revenues.
- Income from operations for the 1st– quarter of 2017 was $55.90M, contrast to $7.20M for the similar period last year. Non-GAAP income from operations was $66.70M, contrast to $15.90M for the similar period last year.
- Non-operating income for the 1st- quarter of 2017 was $2.10M, contrast to $0.60M for the similar period last year. Income tax expenses were $11.30M, contrast to $0.50M for the similar period last year, mainly because of higher profitability and the change in tax status of the Company’s PRC partner from being completely tax exempted to being subject to 50.00 percent of the enterprise income tax rate in 2017.
- Net income attributable to Weibo for the 1st- quarter of 2017 was $46.90M, or diluted net income per share of $0.210, contrast to $7.10M for the similar period last year, or diluted net income per share of $0.030. Non-GAAP net income attributable to Weibo for the 1st- quarter of 2017 was $57.80M, or diluted net income per share of $0.260, contrast to $16.40M for the similar period last year, or diluted net income per share of $0.070.
- As of March 31, 2017, Weibo’s cash, cash equivalents and short-term investments totaled $444.20M. For the 1st- quarter of 2017, cash offered by operating activities was $72.50M, capital costs totaled $4.50M, and depreciation and amortization expenses amounted to $3.40M.
For the 2nd– quarter of 2017, Weibo estimates that its net revenues to be between $240.00M and $250.00M, which assumes a RMB to US dollar average exchange rate of 6.90. This forecast reflects Weibo’s current and preliminary view, which is subject to change.
Weibo’s administration team will have a conference/discussion call from 7 AM — 8 AM Eastern Time on May 16, 2017 (or 7 PM — 8 PM Beijing Time on May 16, 2017) to present an overview of the Company’s financial performance and business operations. A live webcast of the call will be accessible through the Company’s corporate website. The conference call can be accessed as follows:
US Toll Free: +1 866-519-4004
Hong Kong Toll Free: 800-906-601
China Toll Free: 400-620-8038
International: +65 6713-5090
Passcode for all regions: 18358362
A replay of the conference/meeting call will be accessible through midnight, Eastern Time on May 23, 2017. The dial-in number is +61 2-8199-0299. The password for the replay is 18358362.
The average true range of the stock is recorded at 1.84and the relative strength index of the stock stands -92.18. The stock price is going above to its 52-week low with 244.24 percent and up from its 52-week high with 19.11 percent.
The stock has shown weekly performance of 6.02 percent and monthly performance stands at 25.40 percent. The stock price is trading upbeat from its 200 days moving average with 56.02 percent and up from 50 days moving average with 44.49 percent.
Analyst recommendation for this stock stands at 1.90.