Weibo Corporation announced its unaudited financial results for the third quarter ended September 30, 2024, reporting total net revenues of $464.48 million. This represents a 5% increase year-over-year, or 3% on a constant currency basis, surpassing the analyst consensus estimate of $435.98 million. The company demonstrated solid top-line growth despite market challenges.
The company also reported an adjusted earnings per share (EPS) of $0.53 for the quarter, which exceeded the analyst consensus estimate of $0.44. This strong bottom-line performance indicates effective cost management and profitability. Value-added services were noted as a key driver of revenue growth during this period.
Weibo's revenue increase was driven by value-added services and trends related to the Olympics, even amidst a challenging advertising market. This highlights the company's ability to leverage diverse revenue streams and capitalize on major events. The results underscore operational resilience in a dynamic environment.
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