PRESS RELEASE - Hello Group (MOMO) has released its financial results for Q2 2023. Highlights include a 0.9% YoY increase in net revenues, reaching RMB 3,138M ($432.7M). Net income rose to RMB 568.4M ($78.4M), compared to RMB 345.6M in Q2 2022. Monthly Active Users on Tantan app were 17.3M in June 2023, compared to 24.8M in June 2022. For the Momo app total paying users was 7.9M for the Q2 2023, compared to 8.6M for the same period last year. Tantan had 1.4M paying users for the Q2 2023 compared to 2.2M from the year ago period.
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Hello Group (MOMO) Reports Q2 2023 Revenue Growth Amid User Decrease
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Hello Group Q1 Financial Results
PR NEWSWIRE -- Hello Group (MOMO) announced its unaudited financial results for the Q1 of 2023. Net revenues decreased by 10.5% YOY to RMB2,818.9M ($410.5 M) in the Q1 of 2023. Net income increased to RMB390.3M ($56.8M) in the Q1 of 2023. Monthly Active Users on Momo app were 106.5M in March 2023, compared to 110.9M in March 2022. MAU on Tantan were 19.5M in March 2023, compared to 25.6M in March 2022. For the Momo app total paying users was 7.8M for the Q1 of 2023, compared to 8.6M for the same period last year. Tantan had 1.6M paying users for the first quarter of 2023 compared to 2.4M from the year ago period.
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Hello Group Q4 Financial Results
PR NEWSWIRE - Hello Group, a leading mobile social and entertainment platform in China, announced its financial results for Q4 and the full year 2022. Q4 revenues decreased by 12.6% YOY to RMB3,212.7M ($465.8M). Q4 Net income was $57.7M, compared to a net loss of $616M in the same period of 2021. Monthly Active Users on Momo app were 94.6M in Dec 2022, compared to 114.1M in Dec 2021. MAU on Tantan app were 18.4M in Dec 2022, compared to 27M in Dec 2021. For the Momo app total paying users was 7.8M in Q4 of 2022, compared to 8.9M for the same period last year. Tantan had 1.7M paying users in Q4 of 2022 compared to 2.5M from the year ago period. Annual 2022 net revenues decreased 12.8% YOY to $1,841.9M for the full year of 2022. 2022 net income was $215.2M, compared to a net loss of $423M during the same period of 2021.
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Hello Group: Short-Term Pain, Long-Term Gain
SEEKING ALPHA - Hello Group, a Chinese online social and entertainment company, is experiencing short-term pain due to the declining revenues of its key mobile apps, Momo and Tantan. The decline is attributed to both COVID and regulatory factors. However, Hello Group has introduced new mobile apps, such as Duidui, Hertz, and Soulchill, which it aims to grow in markets outside China, and which have lots of room for future growth. The revenue generated by the new apps grew by 154% YoY to RMB203m in Q3 2022. Therefore, the company is well-positioned to deliver long-term gains for patient shareholders, and its shares are rated as a Hold.
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Hello Group Q3 Financial Results
PR NEWSWIRE - Net revenues decreased by 14% YOY to $454.5M in Q3 2022. Net income increased to $63.4M. Monthly Active Users on Momo were 108.8M in September 2022, compared to 115.5M in September 2021. MAU on Tantan were 20.9M in September 2022. Momo has 8.4M paying users (down from 9.3M last year) and Tantan 2M (down from 2.9M last year).
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Hello Group Targets Tantan Breakeven in 2023
SEEKING ALPHA - Hello Group saw its revenue drop 15% in Q3, and forecast a similar decline in the third. The company's strategy involves a turnaround at its loss-making Tantan, which aims to break even by 2023 by cutting costs and rolling out new functions. The company attributed its sluggish business partly to the resurgence of Covid-19. China's tightening regulation of live streaming businesses with new rules implemented early this year also dealt a heavy blow to the company. Its "live video service" revenue - responsible for about half of its total - fell ~30% to 1.5B yuan YOY during the last quarter. Before announcing a name change last August, Hello was known as Momo and has a history dating back to 2011 when its Tinder-style Momo app first took China's dating scene by storm. In 2018, the company paid $760M to add another "meet-up" app called Tantan to its portfolio.
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Hello Group Q2 Financial Results
HELLO GROUP - Hello Group (Momo) is a leading mobile social and entertainment platform in China. Q2 2022 net revenues decreased by 15.3% YOY to RMB3,110.4M ($464.4M). Net income decreased to RMB345.6M ($51.6M) from RMB464.2M in Q2 2021. Monthly Active Users on Momo app were 111.2M in June 2022, compared to 115.6M in June 2021. MAU on Tantan were 24.8M in June 2022. For the Momo app total paying users was 8.6M in Q2 2022, compared to 9.3M for the same period last year. Tantan had 2.2M paying users in Q2 2022 compared to 3.1M from the year ago period.
See full article at Hello Group website
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Hello Group Stock Is Attracting Value Speculators
MARKETBEAT - Chinese social media company Hello Group stock has fallen (-34%) over the year despite being profitable. The company operates two major apps, including the social media app MOMO and Tantan, a dating app similar to Tinder. Chinese ADR stocks have mainly fallen out of favor with investors as their financials can't be verified, and Chinese regulators could take companies out of the market. Hello Group Q1 revenues fell by 9.3% YOY to $471.9M, MAU dropped to 110.9M from $115.3M in the year-ago period. The total paying users is 11M, down from 12.6M. The COVID lockdowns had a negative impact resulting in a significant decline in users dating sentiment and ability to pay for VAS.
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Hello Group Q1 Financial Results
PR NEWSWIRE - Hello Group'S Q1 revenues decreased by 9.3% YOY to RMB3,148M ($497M). Net income decreased to RMB290M ($45.7M). Monthly Active Users on Momo app were 111M in March 2022, compared to 115.3M in March 2021. MAU on Tantan were 25.6M in March 2022. Total paying users of live video service and value-added service, including 2.4M paying users of Tantan were 11M for Q1 of 2022, compared to 12.6M in Q1 2021, which included 3.5M paying users of Tantan.
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Hello Group (Momo) Financial Results
PR NEWSWIRE - Hello Group, a leading mobile social and entertainment platform in China, announced its Q4 and 2021 financial results.
Q4 highlights:
- Net revenues decreased by 3.2% YOY to RMB3,674.2M ($576.6M
- Net loss attributable to Hello Group was RMB4,242.7M ($665.8M), compared to a net income of RMB651.5M in Q4 2021.
- Monthly Active Users on Momo app were 114.1M in Dec 2021, compared to 113.8M in Dec 2020. MAU on Tantan application were 27M in Dec 2021.
- Total paying users of live video service and value-added service, including 2.5M paying users of Tantan, were 11.4M for the Q4 of 2021, compared to 12.8M in 2020.
Full year 2021 highlights
- Net revenues decreased 3% YOY to RMB14,575.7M ($2,287.2M) for the full year of 2021. Net loss attributable to Hello Group was RMB2,913.7M ($457.2M) for the full year of 2021, compared to a net income of RMB2,103.5M in 2020.
See full article at Hello Group website
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Social App Momo Mulls Secondary Listing in HK
EQUAL OCEAN - Nasdaq-listed Hello Group (formerly known as Momo) has kicked off its plan to list in Hong Kong recently, and it is likely to go public in 6 to 12 months should things go smoothly. The group, owner of the popular dating app Momo and other Internet services, was listed on the US exchange in Dec 2014, with Morgan Stanley, JP Morgan Chase & Co, and Credit Suisse as underwriters. According to the company's Q3 2021 financial report, its revenue totaled 580M, down 0.2% YOY, while net income stood at $62.6M, shrinking 11.8% from the same period in 2020. The two main revenue streams, Momo and Tantan, accounted for 86.4% and 13.6% of the total revenue respectively.
by Tzuhsuan Tang
See full article at Equal Ocean
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Hello Group Q3 Results
PR NEWSWIRE - Hello Group's (formerly MOMO) Q3 revenues decreased by 0.2% YOY RMB3,759.2 million ($583M). Net income decreased to RMB403.2M ($62.6M) from RMB456.7M. Monthly Active Users on Momo app were 115.5M in September 2021, compared to 113.6M last year. Total paying users of live video service and value-added service, including 2.9M paying users of Tantan, were 12.2M, compared to 13.1M, which included 4.1M paying users of Tantan. "The Q3 of 2021 was a good quarter with solid financial results," commented Li Wang, CEO of Hello Group. "For the first time since the beginning of the COVID-19 pandemic, core Momo revenue has achieved YOY growth. Although we still have many hard work to do at Tantan, I am glad that we are finally on track to make concrete progress on the product fronts."
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Momo Renamed to Hello Group
PANDAILY - Aug 3 - Momo, Chinese mobile social and entertainment platform, has changed its name from "Momo Inc." to "Hello Group Inc.". The company's main products are Momo and Tantan. Hello Group was established in 2011. On Dec 12, 2014, the company was listed on the NASDAQ Stock Exchange. In May 2018, they completed the acquisition of 100% equity of dating app Tantan.
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Momo Looks for Excitement With Tantan Overhaul
SEEKING ALPHA - June 11 - Momo believes its underperforming Tantan app could grow strongly following a major overhaul now in the works. Tang Yan's move from the CEO's office was just the beginning of a bigger shakeup. That shakeup claimed new victims in April with the departure of the CEO and COO of the Tantan app that Momo acquired for $760M in 2018. Momo's current CEO Wang Li, formerly Momo's longtime COO, confirmed the changes at the top of Tantan on the company's action-packed investor call following the release of its quarterly earnings this week. Investors seemed to welcome the news, with Momo’s shares up 10% since the announcement of the company's latest quarterly results. The company's revenue fell 3.4% to $543M in the Q1, and Momo said it expects another decline of ~5% in the current quarter. Both of those figures do represent an improvement from the 12% revenue decline from last year, including a 19% drop in the Q4. Q1 profit was similarly uninspired, falling 14%.
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Momo Q1 Financial Results
MOMO - June 9 - Q1 2021 net revenues decreased by 3.4% YOY to RMB3,470.6M ($529.7M). Net income attributable to Momo decreased to RMB461.7M ($70.5M) from RMB538.9M in the same period of 2020. Monthly Active Users on Momo app were 115.3M in March 2021, compared to 108M in March 2020. Total paying users of our live video service and value-added service, including 3.5 million paying users of Tantan, were 12.6M for the Q1 of 2021, compared to 12.8M for the Q1 of 2020, which included 4.2M paying users of Tantan.
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