HK Stock Market Move | WB-SW(09898) rose more than 8%, net profit for the third quarter increased by 68.5% year on year, advertising business achieved stable growth.

WB-SW (09898) surged over 8%, as of the time of writing, it has increased by 8.16% to 71.55 Hong Kong dollars, with a turnover of 2.986 million Hong Kong dollars. On the news front, Weibo released its financial performance for the third quarter of 2024, with a net income of 464 million US dollars, an increase of 5.05% year-on-year; a net profit attributable to Weibo shareholders of 131 million US dollars, an increase of 68.5% year-on-year; and a basic net income per share of 0.55 US dollars. In the first three quarters of 2024, it achieved a net income of 1.298 billion US dollars, an increase of 0.13% year-on-year; and a net profit attributable to Weibo shareholders of 292 million US dollars, an increase of 12.56% year-on-year. Advertising and marketing revenue for the third quarter of 2024 was 399 million US dollars, an increase of 2% from the same period last year. Advertising and marketing revenue (excluding revenue from Alibaba) was 377 million US dollars, an increase of 3% from the same period last year.