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Wireless

Weibo beats revenue expectations but profit falls again in Q1

Monday 10 May 2021 | 14:02 CET | News
Chinese messaging group Weibo reported better-than-expected revenues for the first quarter, boosted by growth in the company's user base and in user engagement. Revenues reached USD 458.9 million, up 42 percent year-on-year or 31 percent on a constant currency basis. Ad and marketing revenues lifted 42 percent to USD 390 million and VAS revenues advanced 44 percent to USD 68.9 million. The net profit however went lower to USD 49.8 million from 52.1 million. Earnings per share were flat at USD 0.22 per share.

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Categories: Mobile & Wireless
Companies: Weibo
Countries: China
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