- Weibo Corp WB reported third-quarter FY21 revenue growth of 30% year-on-year to $607.4 million, beating the consensus of $589.8 million.
- Segments: Weibo's Advertising and marketing revenues rose 29% Y/Y to $537.6 million. Value-added service (VAS) revenues grew 42% Y/Y to $69.8 million.
- Drivers: Monthly active users (MAUs) increased by 62 million Y/Y to 573 million in September 2021, while Average daily active users (DAUs) rose 23 million Y/Y to 248 million.
- Margin: The non-GAAP operating margin expanded 200 bps to 41%.
- Non-GAAP EPS of $0.90 beat the consensus of $0.84.
- Weibo held $2.7 billion in cash and equivalents and generated $226 million in operating cash flow.
- "We delivered another solid quarter, with sustained user growth and top line expansion," said CEO Gaofei Wang.
- "In September, both our MAUs and DAUs continued to grow from prior quarter, driven by a greater focus on Weibo's core positioning in social media, strong execution ability,effective channel investment strategies and the Olympic Game effect," Wang added.
- Outlook: Weibo sees Q4 revenue growth of 15%-20% on a constant currency basis compared to the consensus of $594.3 million.
- Price Action: WB shares traded higher by 7.30% at $47.3 in the premarket session on the last check Thursday.
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