Weibo Profit Tops Estimates As Revenue Jumps 39%

(RTTNews) - Chinese microblogging site Weibo Corp (WB) on Tuesday reported second-quarter net earnings of $4.2 million or $0.02 per share compared with a loss of $15.5 million or $0.08 per share last year.

Excluding items, adjusted earnings for the quarter were $0.05 per share compared with a loss of $0.03 per share a year ago.

Revenues for the quarter were up 39% at $107.8 million compared with $77.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.03 per share on revenues of $104.7 million for the quarter. Analysts' estimates typically exclude special items.

The company said its monthly active users were 212 million for June 2015, up 36% year over year. Daily active users were 93 million on average for June 2015, up 34% year over year.

For the third quarter, the company expects revenues of $120 million to $123 million, while analysts expect $121.9 million.