Weibo earnings for the first quarter of 2019 have WB stock falling hard on Thursday.
The bad news for WB stock today comes from Weibo’s (NASDAQ:WB) outlook for the second quarter of 2019. The company is expecting revenue for the quarter to range from $427 million and $437 million. This is well outside of Wall Street’s revenue estimate of $481.80 million for the period.
Weibo reported earnings per share of 56 cents for the first quarter of the year. This is better than the company’s earnings per share of 50 cents from the same time last year. It also comes in above Wall Street’s earnings per share estimate of 52 cents for the quarter, but that couldn’t stop WB stock from falling today.
Weibo earnings for the first quarter of 2019 includes net income of $150.57 million. This is an increase over the company’s net income of $98.71 million reported in the first quarter of 2018.
The Weibo earnings report for the first quarter of the year also has operating income coming in at $123.07 million. Operating income reported by the Chinese microblogging website was $109.38 million for the same period of the year prior.
Revenue reported in the Weibo earnings report for the first quarter of 2019 comes in at $399.18 million. That’s up from the company’s revenue of $349.88 million reported in the first quarter of the previous year. This also comes in above analysts’ revenue estimate of $398.82 million for the period, but WB stock is still down.
WB stock was down 12% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.