Weibo (WB.O)_ 3Q24 Beat Expectation on Strong Olympics Ad Spend & Higher VAS
ASML·2024-11-22 16:18
19 Nov 2024 18:36:13 ET │ 14 pages Weibo (WB.O) 3Q24 Beat Expectation on Strong Olympics Ad Spend & Higher VAS CITI'S TAKE Weibo reported a better-than-expected 3Q24 with total revs +5% yoy to US465mn, 7.8%/6.1% higher than our/consensus expectation attributed to outperformance of VAS, which grew 25% yoy while online ad grew 2% yoy and was 7% ahead of our forecast, thanks to robust ad demand from food and beverage, apparel and automobile industry during the Olympics in 3Q24. Into 4Q24, mgmt commented that w ...