Chinese social media firm Weibo Corp. (WB) Thursday reported a sharp fall in fourth quarter earnings compared to the prior year. Revenues were moderately down.
The quarterly earnings were $77.49 million or $0.60 per share compared to $141.92 million or $0.60 per share in the prior year. On an adjusted basis, earnings were $136.59 million or $0.57 per share. On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.49 per share. Analysts estimates usually exclude special items.
Revenue for the quarter increased to $442.15 million, compared to $447.99 million last year.
Further, the Company's board approved a special cash dividend of $0.82 per share and ADS as on April 12, 2024, Beijing/Hong Kong Time and New York Time, payable on or around May 6 and to holders of ADSs on or around May 13, 2024.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.