Weibo Beats Q1 Revenue And EPS Estimates Despite Yearly Decline - What's On The Cards?

Written by Emily J. Thompson, Senior Investment Analyst

Source: Benzinga

Updated: May 23 2024

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ECNS+2.76%

WB+2.31%

FMET+3.04%

Should l Buy ECNS?

Source: Benzinga

Weibo's Financial Performance: Weibo Corp reported a 4% revenue decline in Q1 2024 but beat analyst estimates, with adjusted EPS of $0.41.
Revenue Breakdown: Advertising and marketing revenues decreased by 5%, while value-added service revenues dropped by 3% year-on-year.
User Metrics: Monthly active users were 588 million in March 2024 (vs 593 million Y/Y), and daily active users increased by 5 million to 255 million.
Financial Position: Weibo had $3.3 billion in cash and equivalents as of March-end and an improved adjusted operating margin of 32%.
CEO Statement and Stock Performance: CEO Gaofei Wang highlighted user acquisition and engagement strategies, content optimization, and stable business trends. Weibo stock has declined by 46% in the last 12 months.

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Analyst Views on ECNS

Wall Street analysts forecast ECNS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ECNS is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

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About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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