UBS: Reiterates Weibo-SW (09898) “Buy” Rating Target Price of HK$90

The Zhitong Finance App learned that UBS released a research report stating that it reaffirmed the Weibo-SW (09898) “buy” rating. After the first quarter results were announced, the revenue forecast for the full year of this year remained unchanged, but the adjusted net profit forecast was raised by about 2%, and the target price was HK$90. The company's revenue for the first quarter fell 4.4% year on year, and the decline was narrower than forecast. Due to ideal sales and marketing savings, adjusted net profit exceeded the bank and market expectations by more than 20%. The bank pointed out that in terms of fixed exchange rates, Weibo's advertising revenue in the first quarter was flat year on year. Management believes that the advertising market will bottom out from the second quarter, while consumption performance in March and April seems to be weak, but note

Zhitong FinanceMay 24 04:58 ET

Changes in Hong Kong stocks | Weibo-SW (09898) fell more than 5%. Net profit returned to mother in the first quarter was halved, advertising and marketing revenue fell 5% year on year

The Zhitong Finance App learned that Weibo-SW (09898) fell by more than 5%. As of press release, it was down 5.57% to HK$67.75, with a turnover of HK$5.9041 million. According to the news, Weibo announced financial results for the first quarter of 2024, with net revenue of US$395.5 million, down 4% year-on-year or flat based on fixed exchange rates. Net profit attributable to Weibo shareholders was US$494.38 million, down 50.8% year on year and 40.6% month on month. Advertising and marketing revenue for the first quarter was US$339 million, down 5% year over year. Advertising and marketing revenue (excluding Guang from Alibaba)

Zhitong FinanceMay 23 22:11 ET

CICC: Maintaining the Weibo-SW (09898) “Outperform the Industry” rating target price of HK$101

CICC raised its Weibo-SW (09898) 2024 non-GAAP net profit forecast by 4% to US$478 million.

Zhitong FinanceMay 23 21:28 ET

Weibo's Q1 Profit Halves

Weibo (HKG:9898) reported a net income attributable to shareholders of $49.4 million in the first quarter of 2024, compared to $100.5 million a year ago, according to a Thursday filing with the Hong K

MT NewswiresMay 23 07:37 ET

Weibo-SW (09898) had revenue of US$396 million in the first quarter, and advertising contributed US$339 million

Weibo-SW (09898) announced financial results for the first quarter of 2024. Net revenue for the first quarter of 2024 was US$395.5 million, down 4% year on year or flat based on a fixed exchange rate; operating profit of US$99.7 million, operating margin of 25%; net profit attributable to Weibo shareholders was US$49.4 million, or $0.19 per diluted net income per share; non-GAAP operating profit of US$125.8 million, non-GAAP operating margin 32%; net profit attributable to non-GAAP shareholders was $106.6 million USD, non-GAAP net income of $0.41 per diluted share.

Gelonghui FinanceMay 23 05:23 ET

Weibo-SW (09898.HK) had first-quarter revenue of US$396 million and monthly active users of 588 million

Gelonghui, May 23 | Weibo-SW (09898.HK) announced financial results for the first quarter of 2024. Net revenue for the first quarter of 2024 was US$395.5 million, down 4% year on year or flat based on fixed exchange rates; operating profit of US$99.7 million, operating margin of 25%; net profit attributable to Weibo shareholders was US$49.4 million, or $0.19 per diluted share; non-GAAP operating margin was 32%; non-GAAP operating margin was 32%; non-GAAP attributable to Weibo Shareholders' net profit was 1.0

Gelonghui FinanceMay 23 05:06 ET