Weibo Q1 Profit Falls

(RTTNews) - Weibo Corp. (WB) Thursday announced a sharp fall in first quarter earnings on lower revenues, compared to the prior year.

Quarterly earnings were $49.44 million from $100.49 million in the previous year. On a per share basis, earnings were $0.19, down from $0.42 in the prior year.

On an adjusted basis, earnings were $106.61 million or $0.41 per share.

On avergae, 7 analysts polled by Thomson Reuters expected the company to earn $0.36 per share. Analysts estimates usually exclude special items.

The revenues declined to $395.49 million from $413.78 million a year ago.