RTTNews | May 10, 2021 09:47AM EDT

09:46 Monday, May 10, 2021 (RTTNews.com) - Shares of Weibo Corp. (WB) are currently trading at $46.67, down $1.24 or 2.60%, with trading volume of over 649K versus an average volume of 1.52 million shares. The stock has been trading in the range of $28.93 - $63.55 for the past one year.

The company reported Q1 GAAP net income attributable to Weibo's shareholders of $49.8 million or $0.22 per share compared to $52.1 million or $0.23 per share a year ago. On a non-GAAP basis, net income increased to $130.7 million or $0.57 per share from $67.4 million or $0.30 per share last year.

Net revenues for the quarter amounted to $458.9 million, 42% higher than the previous year's revenue of $323.4 million. On average, 9 analysts polled by Thomson Reuters expected earnings of $0.47 per share on revenue of $429.84 million for the quarter. Analysts' estimate typically exclude certain special items.

Looking ahead, the company expects second-quarter net revenues to increase by 25% - 30% year-over-year on a constant currency basis. Wall Street analysts estimate sales growth of 24.10% for the second quarter.

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