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Weibo Q1 Profit Misses Estimates - Quick Facts

Weibo Corp. (WB) reported first quarter non-GAAP net income per share attributable to Weibo of $0.30, compared to $0.56, last year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.31, for the quarter. Analysts' estimates typically exclude special items.

First quarter total net revenues were $323.4 million, a decrease of 19% compared to $399.2 million, prior year. Analysts expected revenue of $312.52 million for the quarter.

Monthly active users were 550 million in March 2020, a net addition of approximately 85 million users on year over year basis. Mobile MAUs represented approximately 94% of MAUs. Average daily active users were 241 million in March 2020, a net addition of approximately 38 million users on year over year basis.

For the second quarter of 2020, Weibo estimates net revenues to decrease by 7% to 12% year-over-year on a constant currency basis.

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