- Hello Group Inc MOMO reported a fourth-quarter FY21 net revenue decline of 3.2% year-on-year to $576.6 million, beating the consensus of $567.96 million.
- Drivers: Monthly Active Users (MAU) on the Momo application were 114.1 million in December 2021 versus 113.8 million in December 2020.
- Total paying users of its live video service and value-added service declined 10.9% Y/Y to 11.4 million.
- Also Read: China Asks US-Listed Companies To Prepare For Audit Inspections: Will That Ease Delisting Fears For BABA And Others?, Here's Why Alibaba, Tencent Look To Tighten NFT Norms
- Segments: Revenues from the Live video service declined 7.7% Y/Y to $337.2 million, Total value-added service increased 5.3% Y/Y to $231.6 million, Mobile marketing fell 51.8% Y/Y to $4.0 million, and Mobile games rose 163.1% Y/Y to $3 million.
- Net revenues from the Momo segment rose 6% Y/Y to $507.7 million, while the Tantan segment revenues decreased 41% to $68.6 million.
- Non-GAAP income from operations deteriorated by 35.6% Y/Y to $79.6 million. Non-GAAP net income per ADS of $0.22 missed the consensus of $0.26.
- Hello Group held $2.5 billion in cash and equivalents and generated $104.4 million in operating cash flow.
- Outlook: Hello sees Q1 revenue decrease of 10.7% - 7.8% Y/Y, representing $496 million - $512 million, below the consensus of $594.1 million.
- Hello Group also announced that its CFO Jonathon Zhang will retire effective June 30, 2022. It has named Cathy Hui Peng, SVP of corporate finance, to assume the role of CFO following Zhang's retirement.
- Price Action: MOMO shares traded lower by 9.33% at $6.80 in the premarket session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
