T. H. Data Flash – Weibo Corporation – November & 4Q19E: Negative Impact From ByteDance Lessening; Operational Metrics Recovering; Maintain Buy Rating
WB was under pressure from ByteDance throughout the year of 2019. However, the negative impacts are becoming less fierce, mainly due to the fact that most of the impacts are already baked into WB’s operations as the company’s operational metrics were showing some upward trends in November 2019. Based on our data and calculations, preliminarily we believe the company’s 4Q19E revenue is likely to be higher than consensus at $473.98M and our model, and within the company’s guidance range of $473.3M – $487.5M.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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