Why Weibo Stock Jumped 10% Today
Chinese microblogging service Weibo (NASDAQ: WB) reported strong fourth-quarter results early Thursday morning, driving the stock as much as 10% higher. Weibo's shares had retreated to a 7.7% gain by 2 p.m. EDT.
Weibo's fourth-quarter sales rose 9.7% year over year, landing at $513 million. Adjusted earnings increased by 20% to $0.92 per diluted share. Your average analyst would have settled for earnings of roughly $0.74 per share on revenue near $499 million. Looking ahead, Weibo's management expects first-quarter sales to grow approximately 28%, which works out to $412 million. Here, the analyst consensus stopped at $399 million.
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Source Fool.com
