BLOOMBERG - Oct 2 - Momo's 123% Q3 return was the fourth-best among U.S.-listed stocks with market values of ~$2B. The Chaoyang-based company, which went public in New York in 2014 as China's answer to Tinder, has since expanded into the live-streaming business. The live-streaming boom in countries from Russia to India is fueled by more smartphones, cheaper bandwidth and the shift from personal computers to mobile. Momo's Q2 revenue jumped 222% from a year earlier, fueled by additional users paying for live-video service.
by Elena Popina
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Summarized by the Courtland Brooks team
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