Weibo Q4 Profit Falls

(RTTNews) - Chinese social media firm Weibo Corp. (WB) Thursday reported a sharp fall in fourth quarter earnings compared to the prior year. Revenues were moderately down.

The quarterly earnings were $77.49 million or $0.60 per share compared to $141.92 million or $0.60 per share in the prior year. On an adjusted basis, earnings were $136.59 million or $0.57 per share. On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.49 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $442.15 million, compared to $447.99 million last year.

Further, the Company's board approved a special cash dividend of $0.82 per share and ADS as on April 12, 2024, Beijing/Hong Kong Time and New York Time, payable on or around May 6 and to holders of ADSs on or around May 13, 2024.