Welcome to our dedicated page for Hello Group news (Ticker: MOMO), a resource for investors and traders seeking the latest updates and insights on Hello Group stock.
Hello Group Inc (NASDAQ: MOMO) operates leading mobile social platforms including Momo and Tantan, connecting millions through location-based networking and live video services. This page serves as your definitive source for official corporate announcements, financial developments, and strategic updates from the innovative social entertainment company.
Investors and industry observers will find curated press releases covering earnings reports, product launches like the inSpaze spatial app, partnership announcements, and operational milestones. Our repository ensures immediate access to primary-source information about Hello Group's live streaming innovations, value-added service expansions, and market positioning strategies.
Key updates include quarterly financial disclosures, leadership changes, technological advancements in mobile social networking, and regulatory filings. Bookmark this page for streamlined tracking of Hello Group's progress in enhancing user engagement through immersive features and cost-efficient service ecosystems.
Hello Group Inc. (NASDAQ: MOMO) announced its Q2 2024 financial results, showing a 14.2% year-over-year decrease in net revenues to RMB2,691.4 million (US$370.3 million). Net income attributable to Hello Group decreased to RMB397.8 million (US$54.7 million) from RMB568.4 million in Q2 2023. The company reported a decline in Monthly Active Users (MAU) on Tantan app to 12.9 million in June 2024, compared to 17.3 million in June 2023. Total paying users for the Momo app decreased to 7.2 million from 7.9 million year-over-year. Despite challenges, the company maintained innovation and adaptation in a challenging environment, with Momo's cash cow business continuing to be productive.
Hello Group Inc. (NASDAQ: MOMO), a leading player in mainland China's online social networking space, has announced the release of its unaudited financial results for the second quarter ended June 30, 2024. The results will be disclosed before U.S. markets open on Tuesday, September 3, 2024. Following the release, the company's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on the same day.
Participants can pre-register for the conference call through a provided link. A telephone replay of the call will be available until September 10, 2024. Additionally, a live and archived webcast of the conference call will be accessible on Hello Group's Investor Relations website.
Hello Group (NASDAQ: MOMO) announced its unaudited financial results for Q1 2024, showing a 9.2% YoY revenue decline to RMB2,560.4 million (US$354.6 million).
Net income plummeted to RMB5.2 million (US$0.7 million) from RMB390.3 million last year, attributed to a significant withholding tax accrual on undistributed earnings.
Monthly Active Users on the Tantan app fell to 13.7 million from 19.5 million, and paying users on the Momo app dropped to 7.1 million from 7.8 million YoY.
Despite a revenue decrease, Hello Group made operational adjustments, reducing costs and expenses by 12.4% YoY to RMB2,120.0 million (US$293.6 million).
Income from operations was RMB460.3 million (US$63.8 million), up slightly from RMB436.2 million in the previous year. However, net income per ADS dropped significantly from RMB1.96 to RMB0.03.
Looking forward, Hello Group expects Q2 2024 revenues between RMB2.65 billion to RMB2.75 billion, indicating a 12.4%-15.5% YoY decline.
Hello Group Inc., a leading player in mainland China's online social networking space, announced the release of its unaudited financial results for the first quarter of 2024 on May 28, 2024. The company will also host an earnings conference call on the same day. Participants can preregister for the call via the provided link. A telephone replay and webcast will be available post-conference call.
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