WEIBO CORP(9898.HK):1Q25 BEAT;ACCELERATED AI FOR DIFFERENTIATED AND ENHANCED CORE SOCIAL COMPETENCIES
格隆汇·2025-05-24 02:13
Our raised FY2025 adj. EPADS forecast mainly reflects the company's disciplinedSG&A despite accelerated AI-related investments. 1Q25 clean beat mainly on Alibaba ad. Total revenue of US$397m (flattishYoY/ +1% YoY on c.c) was 1% above consensus. Core online ad revenue wasflattish YoY or +1% YoY on c.c.. Non-Alibaba ad revenue declined by 6% YoY,mainly dragged by online game and handset sectors while being partially offsetby auto, eC, food & beverage sectors. Alibaba ad revenue surged by 89% YoYon strong prom ...