Weibo Hong Kong shares hit 7-week high on Q1 net income surge

Weibo

22/05/2025 04:28

** Weibo 9898.HK jumps 7.8% to HK$73.45, highest since April 3

** Stock set for biggest one-day pct rise since February 21

** U.S.-listed shares WB.O rose 4.3% on Wednesday

** Chinese social media advertising firm's Q1 net income surges to $107 mln from year-ago $49.4 mln; net revenue up 1% y/y on a constant currency basis

** Jefferies maintains "buy", saying revenue was in line with estimate and non-GAAP earnings beat expectations

** Says, "On a constant-currency basis, we expect total revenue to remain relatively stable YoY in 2Q and 2025 respectively"

** YTD, HK stock down 3.3%, U.S. shares falls 8.1%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))