Weathering a challenging FY24

M N 15 Mar 2024 CMB International Global Markets | Equity Research | Company Update Weibo (WB US) Weathering a challenging FY24 Target Price US$18.80 Weibo reported 4Q23 results on 14 Mar: total revenue grew by 3$23.50) YoY on a constant currency basis) to US$464mn, vs consensus/our estimate of Up/Downside 93.8$454/458mn. Non-GAAP operating income declined by 4% YoY to Current Price US$9.70 US$146mn in 4Q23, 7% ahead of consensus, mainly thanks to the stringent control in pr ...