MarketWatch writes article about China’s Weibo swings to quarterly profit as monthly users:
By Sue Chang
Published: Nov 18, 2015 5:15 p.m. ET
By
SueChang
Markets reporter
Weibo Corp. WB, +3.39% often referred to as China’s Twitter, late
Wednesday said it swung to a third-quarter profit of $14.5 million, or
7 cents a share, from a loss of $6.7 million, or 3 cents a share, a
year earlier. On an adjusted basis, Weibo would have earned 10 cents a
share. Revenue grew 48% to $124.7 million on the back of strong gains
in advertising and marketing revenue. Analysts surveyed by FactSet had
forecast earnings of 3 cents a share on revenue of $121.7 million. The
Chinese company also reported monthly active users increased 33%
year-on-year to 222 million with mobile users accounting for 85%. Daily
active users climbed 30% to 100 million on average. U.S.-listed shares
of Weibo rose 1.9% in after-hours trading.
MarketWatch Article Source Here.