WB: Preannounced Strong 3Q17 Results; Making Upward Adjustments Accordingly; Maintain Buy Rating
WB will report 3Q17 results on Tuesday, November 7th before the market opens with a 6am EST conference call. WB preannounced its 3Q17 results, with revenue at $320.0M and non-GAAP net income at $115.2M. As such, we are making adjustments to our model based on the 3Q preannouncement. Based on our data and calculations for 4Q17, we believe WB may provide guidance close to $369.5M, significantly better than consensus at $337.5M as the Street has not been adjusted to reflect this preannouncement. We maintain our Buy rating.