Weibo Q2 Profit Tops Estimates – Quick Facts
Weibo Corp. (WB) reported second quarter non-GAAP net income per share of $0.50, compared to $0.68, last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts’ estimates typically exclude special items.
Second quarter total net revenues were $387.4 million, a decrease of 10% compared to $431.8 million, last year. Analysts expected revenue of $379.94 million, for the quarter. Advertising and marketing revenues were $340.6 million, a decrease of 8%.
Monthly active users were 523 million in June 2020, a net addition of approximately 37 million users on year-over-year basis. Average daily active users were 229 million in June, a net addition of approximately 18 million users from last year.
For the third quarter, Weibo projects net revenues to decrease by 5% to 7% year-over-year on a constant currency basis.
Sina Corporation Q2 adjusted earnings Beat Estimates
Below are the earnings highlights for Sina Corporation (SINA):
-Earnings: -$25.37 million in Q2 vs. $51.42 million in the same period last year.
-EPS: -$0.42 in Q2 vs. $0.73 in the same period last year.
-Excluding items, Sina Corporation reported adjusted earnings of $34.42 million or $0.54 per share for the period.
-Analysts projected $0.43 per share
-Revenue: $507.74 million in Q2 vs. $533.05 million in the same period last year.
DeChambeau Wins US Open Golf Championship
Bryson DeChambeau won the US Open Golf Championship with a decisive six-stroke victory over 54-hole leader Matthew Wolff in the final-round.
DeChambeau, who began the second day behind overnight leader Wolff, carded a final-round, 3-under-par 67 on Sunday.
By winning the first major title of his career, DeChambeau joined the ranks of Jack Nicklaus and Tiger Woods to capture an NCAA individual title, a U.S. Amateur and a U.S. Open.
DeChambeau, dubbed ‘The Scientist’, displayed a performance that will be remembered for long at the the difficult West Course at Winged Foot Golf Club.
The Clovis, California native dashed 21-year-old Wolff’s hopes to become the first U.S. Open rookie to win the title since 20-year-old amateur Francis Ouimet in 1913.
“It’s just an honor, I don’t know what else to say. It’s been a lot of hard work,” said DeChambeau.
He is the 12th player to have won a U.S. Amateur and a U.S. Open.
All but one of the 61 competitors who completed the championship on a chilly and breezy late-summer day battled the West Course to a draw.
DeChambeau, 27, became just the fourth player in the championship’s century-old history to better par in the final round and win the trophy.
Kremlin plays down rouble drop as regular market volatility, expects recovery
MOSCOW, Sept 28 (Reuters) – The Kremlin on Monday said the rouble’s sharp drop in recent days was simply due to market volatility and there was no doubt the Russian currency would recover lost ground.
The rouble fell to a near six-month low on Monday, hitting 79 versus the dollar, as rising coronavirus cases worldwide depressed oil prices and reduced global risk appetite.
Kremlin spokesman Dmitry Peskov told reporters that past experience showed that market volatility was “two-way”. The rouble was as strong as 61 against the dollar in early 2020.
CORRECTED-Walmart picks EG Group founders, TDR Capital as preferred Asda bidders – Sky News
(Corrects to preferred bidders from winning bidders in headline)
Sept 28 (Reuters) – Walmart Inc has selected the founders of UK petrol station operator EG Group and private equity firm TDR Capital as the preferred bidders for its Asda supermarket chain, valued at 6.5 billion pounds ($8.39 billion), Sky News reported on Monday.
A deal is yet to be formally struck, the report said. (bit.ly/3cFkHMs)
Palatin Technologies Slips To Loss In Q4
Palatin Technologies Inc. (PTN) reported that its net loss for the fourth quarter ended June 30, 2020 was $7.30 million or $0.03 per share, compared to net income of $52.2 million or $0.23 per share in the previous year. It was due to the recognition of license and contract revenue pursuant to its license agreement with AMAG of $60.3 million for the quarter ended June 30, 2019.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the fourth-quarter. Analysts’ estimates typically exclude special items.
The company recognized no revenues for the quarter ended June 30, 2020, compared to $60.27 million in the previous year.
Palatin said it is exploring its options pertaining to enhancing the commercialization of Vyleesi, discussions with potential collaboration partners that currently market female healthcare products.
Palatin continues collaboration discussions for territories outside the currently licensed territories of China and Korea and anticipates executing multiple agreements through calendar year 2021.
Vyleesi is FDA-approved product for the as-needed treatment for premenopausal women who experience distress or interpersonal difficulty due to low sexual desire. The treatment is available as a subcutaneous self-injection in a prefilled disposable autoinjector pen for use in anticipation of a sexual encounter.
Thor Industries Q3 Results Top Estimates – Quick Facts
Thor Industries, Inc. (THO) reported Monday net income for the second quarter of $119.2 million or $2.14 per share, up from $92.1 million or $1.67 per share in the prior-year quarter.
Net sales for the quarter edged up to $2.32 from $2.31 billion in the same quarter last year. The sales included $1.18 billion in North American Towable RV sales, $366.5 million in North American Motorized RV sales and $739.9 million in European RV net sales.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.34 per share on net sales of $2.29 billion for the quarter. Analysts’ estimates typically exclude special items.
“Looking ahead, we expect a year of continued growth in fiscal 2021, and we concur with RVIA’s recent RoadSigns most likely forecast of an approximate 19.5% increase in calendar 2021 shipments over their most likely estimate for calendar 2020 shipments,” said Bob Martin, President and CEO.