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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