Stock Track | Weibo Soars Nearly 9% as Q3 Earnings Beat Fuels Rally on Ad Revenue Growth and User Gains

Stock Track11-19

Shares of Chinese microblogging platform Weibo Corporation (NASDAQ: WB) surged nearly 9% in pre-market trading on Tuesday, as the company's better-than-expected third-quarter earnings results sparked investor optimism.

Weibo reported a 5% year-over-year increase in net revenue to $464.5 million, surpassing analysts' expectations of $448.6 million. The revenue growth was primarily driven by a 2% rise in advertising and marketing revenues to $398.6 million, fueled by strong demand from non-Alibaba advertisers. Additionally, Weibo's value-added services segment witnessed a 25% year-over-year increase in revenue to $65.9 million, boosted by the company's upgraded membership offerings.

The company's user metrics also remained robust, with monthly active users reaching 587 million and average daily active users hitting 257 million in September 2024. These strong user numbers underscore Weibo's continued popularity and engagement among Chinese social media users, further bolstering its advertising prospects.

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