Weibo Corp (WB)

[MiamiGent]

WB Beats- top, bottom and guides higher!

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Weibo Q1 Profit Tops Estimates; Shares Rise After-Hours
BY Midnight Trader — 4:46 PM ET 05/11/2016

Weibo (WB) gained in extended trading after the provider of social media in China reported higher-than-expected profit and revenue in the first quarter.
ADRs of the Beijing, China-based company rose as much as 3.3% after losing 0.4% to $23.08 at the close of regular trading on Wednesday. The stock is up 18% this year.
Net income attributable to Weibo was $7.1 million, or diluted net income per share was $0.03, for the January-to-March quarter, compared to a net loss of $3.1 million, or diluted net loss per share of $0.01 for the same period last year.
Non-GAAP EPS increased nearly six fold to $0.07, above the $0.04 average estimate of six analysts surveyed by Capital IQ.
Q1 revenue increased 24% year over year to $119.3 million, exceeding the company's guidance between $111 million and $116 million.
For Q2, Weibo estimates that its revenue to be between $138 million and $143 million. Analysts are projecting revenue of $135 million.