Weibo (WB) is down over 10% despite solid Q1 numbers due to horrendous Q2 guidance. Q2 outlook has downside revenue of $427-437M versus the $483.93M estimate. Q1 ad and marketing revenue was up 13% Y/Y to $341.1M. Value-added service revenue was up 24% Y/Y to $58M. MAUs were 465M at the quarter's end, a net add of 54M users Y/Y. Mobile made up about 94% of the total. DAUs were 203M, up 19M Y/Y. Adjusted EBITDA was $140.8M compared to the $133.8M consensus.The news confirms that the guidance of Baidu (BIDU) is inline with online marketing issues in China and not anything related to individual companies. Both stocks are interesting on any trade war resolution. The Weibo market valuation is down to only $10 billion finally turning it into a value play. Disclosure: Long BIDU