Investing.com - Weibo reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Weibo announced earnings per share of HK$3.61 on revenue of HK$3.53B. Analysts polled by Investing.com anticipated EPS of HK$3.37 on revenue of HK$3.47B.
Weibo shares are down 57% from the beginning of the year and are trading at HK$153.00 , down-from-52-week-high.They are under-performing the Nasdaq which is down 24.67% from the start of the year.
Weibo follows other major Communication Services sector earnings this month
Weibo's report follows an earnings missed by Tencent Holdings on August 17, who reported EPS of HK$1.92 on revenue of HK$134.03B, compared to forecasts EPS of HK$2.55 on revenue of HK$134.3B.
NetEase had beat expectations on August 18 with second quarter EPS of HK$1.89 on revenue of HK$26.74B, compared to forecast for EPS of HK$1.7 on revenue of HK$27.24B.
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