Weibo reports Q2 EPS 54c, consensus 43c

Reports Q2 revenue $444.8M, consensus $439.36M. Monthly active users were 588M in June. Average daily active users were 261M in June. “We delivered solid performance this quarter,” said Gaofei Wang, CEO of Weibo (WB). “On the user product front, we focused on the integration of social products and upgrade of recommendation system, which are aimed at improving user engagement and content consumption on the platform. On the AI technology application front, our user community of AI-powered intelligent search grew robustly, which further drove the increase of the overall search needs of users. On the monetization front, our advertising business exhibited solid trend this quarter, leveraging our strengths in new product launch marketing and our capability to capture advertising budget during the e-commerce season.”