Weibo ADRs soared 23% intraday, touching their highest level ever, after the company reported Q1 non-GAAP net income jumped to $0.26 per share from $0.07 per share from a year ago, beating the $0.21 average estimate from analysts polled by Capital IQ.
Net revenues climbed to $199.2 million from $119.3 million reported for the same period a year earlier. The Street estimate called for revenues of $188.3 million. For Q2, the company expects revenues to range from $240 million to $250 million. The Street’s consensus calls for sales of $229.4 million. WB trades in a new 52-week range of $22.13 to $78.80.