Weibo reports Q2 EPS 48c, consensus 41c

Reports Q2 revenue $437.87M, consensus $436.95M. Monthly active users were 583M in June. Average daily active users were 256M in June. “Our user engagement and operating efficiency have further improved this quarter,” said Gaofei Wang, CEO of Weibo. “On the user front, we emphasized on the acquisition and engagement of high quality users and saw improved user engagement this quarter. On the content front, we further optimized our content ecosystem through reinforcement of our core strength and solid execution of our vertical content strategy. On the monetization front, we are encouraged to see Weibo’s strength in hot trends and vertical content ecosystem has become the key driver of topline recovery. Underpinned by our stabilized overall business and consistent disciplined spending, our operating efficiency has improved this quarter.”