(RTTNews) - Weibo Corp. (WB) Thursday announced a sharp fall in first quarter earnings on lower revenues, compared to the prior year.
Quarterly earnings were $49.44 million from $100.49 million in the previous year. On a per share basis, earnings were $0.19, down from $0.42 in the prior year.
On an adjusted basis, earnings were $106.61 million or $0.41 per share.
On avergae, 7 analysts polled by Thomson Reuters expected the company to earn $0.36 per share. Analysts estimates usually exclude special items.
The revenues declined to $395.49 million from $413.78 million a year ago.
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