Stock Track | Weibo Surges Nearly 6% Pre-Market on Robust Q3 Earnings, User Growth

Stock Track11-19

Weibo Corp (NASDAQ: WB) shares soared 5.88% in pre-market trading on Tuesday, following the release of the Chinese social media platform's solid third quarter 2024 financial results.

The company reported a substantial 68.7% year-over-year increase in net income attributable to shareholders to $130.6 million, or $0.50 per share, outpacing expectations. Net revenues grew 5.0% year-over-year to $464.5 million, driven by continued growth in advertising and value-added services.

Weibo's user base continued to expand during the quarter, with monthly active users reaching 587 million in September 2024, and average daily active users hitting 257 million. The robust user metrics point to the platform's sustained popularity and engagement among Chinese social media users.

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