LONDON, UK / ACCESSWIRE / December 19, 2017 / Active-Investors free earnings report on Weibo Corp. (NASDAQ: WB) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=WB. Weibo reported its third quarter fiscal 2017 operating results on November 07, 2017. China-based social network operator outperformed top- and bottom-line expectations and provided guidance for the fourth quarter 2017. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Weibo most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Earnings Highlights and Summary

For the third quarter of 2017, Weibo reported net revenues of $320.0 million, up 81% compared to $176.9 million for Q3 2016. The Company's revenue numbers topped analysts' estimates of $297.20 million.

During Q3 2017, Weibo's advertising and marketing revenues surged 77% to $276.8 million compared to $156.7 million for Q3 2016. The Company's advertising and marketing revenues from small & medium-sized enterprises (SMEs) and key accounts were $251.5 million compared to $147.4 million for the year-ago corresponding period.

For Q3 2017, Weibo's costs and expenses totaled $201.6 million, up 50% compared to $134.0 million for Q3 2016, primarily attributable to more marketing and development expenditures incurred and higher turnover tax costs. The Company's non-GAAP costs and expenses were $188.0 million in the reported quarter compared to $122.4 million for the year-ago same period.

Weibo's income from operations for Q3 2017 soared 176% to $118.5 million compared to $42.9 million for Q3 2016. The Company's non-GAAP income from operations totaled $132.0 million in the reported quarter compared to $54.5 million for the prior year's same quarter. Weibo's non-operating income was $4.3 million for Q3 2017 compared to a non-operating loss of $9.2 million for Q3 2016. The Company's Q3 2016 non-operating loss mainly resulted from $11.1 million impairment on investments.

Net income attributable to Weibo was $101.1 million, or diluted net income per share of $0.45, for Q3 2017 compared to net income of $32.1 million, or diluted net income per share of $0.14, for Q3 2016. The Company's non-GAAP net income attributable to Weibo for the reported quarter was $115.2 million, or diluted net income per share of $0.51, compared to non-GAAP net income of $54.6 million, or diluted net income per share of $0.24, for the year-earlier same quarter, and came in ahead of Wall Street's estimates of $0.45 per share.

Weibo's adjusted EBITDA totaled $135.9 million for Q3 2017, reflecting an increase of 136% on a y-o-y basis, or 42% of net revenues, compared to 33% for Q3 2016.

Operating Results

During Q3 2017, Weibo's monthly active users (MAUs) had a net addition of approximately 79 million users on a y-o-y basis, and reached 376 million in September 2017. The Company's mobile MAUs represented 92% of the overall MAUs.

Weibo's average daily active users (DAUs) had a net addition of approximately 33 million users on a y-o-y basis in Q3 2017 and reached 165 million in September 2017.

Cash Matters

As of September 30, 2017, Weibo's cash, cash equivalents, and short-term investments totaled $737.0 million. For Q3 2017, the Company's cash provided by operating activities was $110.6 million, capital expenditures totaled $4.4 million, and depreciation and amortization expenses amounted to $3.9 million.

Business Outlook

For the fourth quarter of 2017, Weibo is forecasting net revenues to be in the range of $355 million and $365 million, which assumes an average exchange rate of 6.70 RMB to US$1.00.

Stock Performance Snapshot

December 18, 2017 - At Monday's closing bell, Weibo's stock rose 5.13%, ending the trading session at $107.99.

Volume traded for the day: 1.68 million shares.

Stock performance in the last three-month ? up 2.52%; previous six-month period ? up 45.77%; past twelve-month period ? up 149.05%; and year-to-date ? up 165.99%

After yesterday's close, Weibo's market cap was at $23.41 billion.

Price to Earnings (P/E) ratio was at 91.98.

The stock is part of the Technology sector, categorized under the Internet Information Providers industry. This sector was up 0.9% at the end of the session.

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