Weibo Q3 2020 earnings preview
$Weibo Corp(WB.US)$ is scheduled to announce its Q3 2020 earnings result premarket on Monday, December 28.
Sina Weibo is a Chinese microblogging website.
According to Bloomberg, analysts are forecasting earnings per share of $0.60 (-22.2% YoY), on revenue of $447.88 million (-4.2% YoY).
In the past 2 years, Weibo has beaten EPS estimates 100% of the time and has beaten revenue estimates 62.5% of the time.
Source: Bloomberg
16 of 28 analysts have Buy ratings on Weibo, while 10 analysts have a Hold or the equivalent rating. 2 analysts rate Weibo as Sell. The average analyst price target is $42.14 implying a 4.9% downside.
Weibo's sales may continue to recover sequentially as advertising demand improves with the pandemic's retreat in China. Consensus expects 3Q sales and non-GAAP operating profit to increase 16% and 25%, respectively, from the prior quarter. Large brand advertisers are likely to be the main revenue contributors, while demand from small and medium-sized enterprises could stay weak, especially as those with a significant offline presence are still struggling from lingering virus concerns. Annual shopping festivals in 4Q could further prop up advertising demand in segments such as fast-moving consumer goods and e-commerce.
-Vey-Sern Ling & Tiffany Tam, Bloomberg analyst
Weibo will hold the conference call at 6:00 AM EDT Monday, December 28.
Source: Bloomberg
Editor: Mia, Linear