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Weibo Corp. Q2 Profit Decreases, but beats estimates

Weibo Corp. (WB) revealed earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $28.30 million, or $0.12 per share. This compares with $81.02 million, or $0.35 per share, in last year's second quarter.

Excluding items, Weibo Corp. reported adjusted earnings of $109.69 million or $0.46 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.6% to $450.15 million from $574.46 million last year.

Weibo Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $28.30 Mln. vs. $81.02 Mln. last year.
-EPS (Q2): $0.12 vs. $0.35 last year.
-Analyst Estimates: $0.43
-Revenue (Q2): $450.15 Mln vs. $574.46 Mln last year.

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