Earnings & # 39; Weibo Q3: revenue under the guidance, net profit exceeded expectations, up 4% before the market – Wall Street

Weibo evening revealed the third quarterly report of 28 & # 39; in November, time & # 39; Beijing. The central database is as follows:

• Net income of & # 39; $ 460.2 million,44% growth year after yearfrom

  The revenue guidance & # 39; previously between $ 465 million and $ 475 million.

• Revenues from advertising and marketing totaled $ 409.3 million, an increase of & # 39; 48% year on year; revenue from services with & # 39; added value was & # 39; $ 50.9 million, an increase of & # 39; 18% year after year.
• The net profit attributable to Weibo is & # 39; USD 165.3 million.63% growth year after yearfrom

  Net earnings per share was & # 39; 73 cents, compared with & # 39; 45 cents in the same period last year.

• Under Non-GAAP, the net profit attributable to Weibo was & # 39; US $ 171.8 million, up 49% year on year, and net profit per diluted share was & # 39; 75 cents, compared with & # 39; 51 cents in the same period last year.
• The adjusted EBITDA was & # 39; US $ 192.8 million, increasing 42% year after year, and the margin & # 39; Net profit was 42%. The margin & # 39; profit for the same period last year was also 42%.
• Since September 2018, active users & # 39; monthly & # 39; Weibo (Maus) compared with & # 39; the same period last year.Net increase of & # 39; about 70 millionfrom

  , Which reached 446 million, 93% of active users & # 39; monthly mobile users are;

• Since September 2018, the average active users & # 39; day (Daus) of & # 39; Weibo increased by & # 39; about 30 million from the same period a year & # 39; before to 195 million.

Following disclosure of the financial report, the share price of & # 39; & # 39 rose by Weibo, a rapid rate, and the price increased by & # 39; more than 4%.

CEO & # 39; Gaofei said Wang Weibo:

The scale of users and user activity & # 39; Weibo continued to rise in the third quarter, and advertising revenue continued to grow rapidly. We will work hard to strengthen the product experience and system & # 39; communication, and more highlight the unique advantages of Microblogging in production, consumption and interaction & # 39; information and improve the efficiency of users access to Weibo.

The growth in income is not as good as the performance guide

Net income for the third quarter of 2018 was & # 39; $ 460.2 million, compared to net income of & # 39; $ 320 million for the same period last year.Increased by & # 39; 44% year after year.

Revenues from advertising and marketing for the third quarter of 2018 amounted to $ 409.3 million, compared with & # 39; $ 276.8 million for the same period last year; revenue from services with & # 39; added value was & # 39; $ 50.9 million, an increase of & # 39; 18% year after year. .

Among them, the advertising revenue and marketing by small and & # 39; medium-sized enterprises (SMEs) and major customers totaled $ 380.7 million, compared to & # 39; $ 251.5 million in the same period last year, an increase by year & # 39; 51%. Revenue from value-added services for the third quarter of 2018 was & # 39; $ 50.9 million, compared to & # 39; $ 43.2 million for the same period last year.

Third quarter & # 39; Weibo has been revealed beforeThe guide is on revenues between $ 465 million and $ 475 millionfrom

Revenue & # 39; Weibo Q3 is not good as expected.

Growth in expenses exceed revenue growth

Costs and expenses for the third quarter totaled $ 298.2 million, compared to & # 39; $ 201.6 million for the same period last year.The year growth was 48%, which was higher than the rate of revenue growth.from

Under Non-GAAP, costs and expenses were & # 39; $ 272.2 million compared to & # 39; $ 188 million in the same period last year.

As mentioned in the financial report, the annual increase in costs and expenses was mainly related to the increase in marketing costs related channels and product promotion, increasing costs & # 39; research and development related to labor costs.

The operating profit margin remained & # 39; stable

Operating profit for the third quarter of 2018 was & # 39; $ 162 million, compared with & # 39; $ 118.5 million for the same period last year, an increase by year & # 39; & # 39 rate, 37%.

Under Non-GAAP, the operating profit was & # 39; $ 188 million, compared with & # 39; $ 132 million in the same period last year, an increase of & # 39; 42% on year.

Non-operating income for the third quarter of 2018 was & # 39; $ 42.9 million compared to & # 39; $ 4.3 million for the same period last year. The increase in non-operating income was mainly related to the adjustment to fair value of investment & # 39; $ 41.9 million.

Among them, the tax expenses on income were 37.9 million US dollars, compared with & # 39; 22 million US dollars in the same period last year. The increase in tax expenses on revenues was mainly due to deferred tax liabilities arising from the adjustment of fair value of investments and an increase in earnings of the company's domestic operations in & # 39; & # 39 environment; rate & # 39; relatively stable tax.

The net profit exceeded expectations

Net profit attributable to Weibo in the third quarter of 2018 was & # 39; $ 165.3 million, and diluted net income per share was & # 39; 73 cents. Net profit for the same period last year was & # 39; $ 101.1 million, or diluted net profit per share & # 39; 45 cents.

Under Non-GAAP, the net profit attributable to Weibo is & # 39; $ 171.8 million.Net profit per share of diligent & # 39; 75 cents, the market is estimated at 71 cents;from

Net profit for the same period last year was & # 39; $ 115.2 million, or diluted net earnings per share & # 39; 51 cents.

From 30 & # 39; September 2018, the cash & # 39; Weibo, equivalent & # 39; cash and short-term investments totaled US $ 1.6 billion.

In addition, cash for operations in the third quarter were & # 39; $ 122.1 million, capital expenditure was & # 39; $ 6 million, and costs & # 39; depreciation and amortization were & # 39; $ 4.5 million.

The next results of the results of & # 39; three months are lower than expected

Weibo expects net income in the fourth & # 39; quarter of 2018 is between USD 480 million and USD 490 million, denominated in & # 39; IMBB.year increase between 35% and 38%from

.

It is reported that this expectation assumes that the average RMB exchange rate against the US dollar is & # 39; 7.00 yuan to one US dollar. The expectations & # 39; above reflect the current preliminary judging & # 39; Weibo and can be adjusted in the future.

However, the market previously estimated that net income & # 39; Weibo fourth & # 39; quarter was & # 39; $ 499.1 million.The guide performance was less than expected.

Revenue and profit of Sina Q3 exceeded expectations

Sina Weibo and also revealed gains, the adjusted earnings & # 39; Sina per share in the third quarter & # 39; 93 cents, the market estimated 69 cents, net income & # 39; 557.2 million US dollars, market assessment & # 39; 551.6 million US dollars.

Mr. Cao Guowei, president and CEO of & # 39; Sina, said:

We are satisfied with the results of the third quarter & # 39; Sina. Despite the fierce competition of the industry and macro adverse factors, revenues and our earnings areWeiboGrowth b & # 39; his health is driven by continued business momentum.

* This article is from Wall Street (WeChat ID: wallstreetcn). Bringing Wall Street to see VIP members and immediate access to the market marketing services.*