WB: Content and Traffic Continue to Drive Strong 1Q17 Results; Maintain Buy Rating & Raise PT to $70.00
​WB will report 1Q17 results on Tuesday, May 16th before the market opens with a 7am EST conference call. Our proprietary data suggest that WB’s 1Q17 results are likely to come in around $191.8M (61% Y/Y growth), better than consensus expectation of 57% Y/Y growth or $186.9M driven by the company’s new Yi Live Video, other live broadcastings on Weibo’s platform as well as its mobile traffic. We believe the WB platform is in the middle of its upward trend as we believe Weibo has become a standard must-have social media platform for advertisers and it is in its rapid growth trend. Therefore, we maintain our Buy rating and raise our price target to $70.00 from $60.00.
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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