Weibo Shares Surge 11% on Strong Earnings Beat
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BTCCSquare news:
Weibo's American Depositary Shares rallied nearly 11% Thursday after the Chinese social media giant posted better-than-expected quarterly results. Second-quarter revenue reached $445 million, a 2% year-over-year increase, with advertising sales climbing to $383 million. Monthly active users grew to 588 million in June.
Non-GAAP net income jumped 13% to $143 million, surpassing analyst estimates. The strong performance stood out against a flat trading day for the S&P 500. User metrics showed steady growth, with daily active users reaching 261 million.
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