Weibo reports Q3 EPS 42c, consensus 42c

Reports Q3 revenue $442.31M, consensus $440.73M. Monthly active users were 578M in September. Average daily active users were 257M in September. “We are pleased with our progress made in our intelligent search front,” said Gaofei Wang, CEO of Weibo (WB). “On the user product front, we have completed homepage information feeds product revamp, with recommendation feed as the main product interface to enhance users’ content consumption scale and efficiency. On the AI technology application front, the user scale and search queries of Weibo intelligent search continued to grow robustly in the third quarter, which fulfilled and drove users’ search demand on the platform. On the monetization front, we further solidified our advantage in content marketing and enhanced the conversion of our promoted feed ad. On the advertising technology front, we continuously strengthened the application of AI technology across the entire advertising process to enhance monetization efficiency.”