微博：Ad revenue growth recovery still takes time

M N 27 May 2024 CMB International Global Markets | Equity Research | Company Update Weibo (WB US) Ad revenue growth recovery still takes time Target Price US$17.00 Weibo announced 1Q24 results: total revenue decreased by 4% YoY (or flat YoY (Previous TP US$18.80) on a constant currency basis) to US$395mn, in line with consensus/our Up/Downside 93.8% estimates; non-GAAP net income was down by 4% YoY to US$107mn, 24/27% Current Price US$8.77 ahead of consensus/our estimates, thanks to the better-than-expected ...