RTTNews | Sep 28, 2020 05:43AM EDT

05:42 Monday, September 28, 2020 (RTTNews.com) - Weibo Corp. (WB) reported second quarter non-GAAP net income per share of $0.50, compared to $0.68, last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Second quarter total net revenues were $387.4 million, a decrease of 10% compared to $431.8 million, last year. Analysts expected revenue of $379.94 million, for the quarter. Advertising and marketing revenues were $340.6 million, a decrease of 8%.

Monthly active users were 523 million in June 2020, a net addition of approximately 37 million users on year-over-year basis. Average daily active users were 229 million in June, a net addition of approximately 18 million users from last year.

For the third quarter, Weibo projects net revenues to decrease by 5% to 7% year-over-year on a constant currency basis.

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