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Hello Group Inc. (NASDAQ: MOMO) is a major player in China's online social and entertainment industry. Originally founded in 2011 as Beijing Momo Technology Company Limited, the company has grown significantly, becoming a listed entity on the Nasdaq Stock Market in 2014. Hello Group is dedicated to fostering social connections through its mobile-based social networking services, allowing users to build and expand relationships based on location and interests.
Hello Group’s primary platform includes the Momo mobile application, which facilitates social interactions through various features like live video services, value-added services, mobile marketing services, and mobile games. The company operates in three main segments: Momo's service lines, Tantan's service lines, and QOOL's service lines. The Momo segment generates the bulk of the company's revenue, encompassing live video and other interactive options that attract and retain users effectively.
The company also owns Tantan, a leading social and dating application acquired in May 2018. Tantan helps users find romantic connections and meet new people. Additionally, Hello Group has introduced several other apps targeting niche markets and selective demographics, such as Hertz, SoulChill, Duidui, TieTie, and inSpaze.
Financially, Hello Group has demonstrated resilience and adaptability. In the second quarter of 2023, the company reported net revenues of RMB 3,137.7 million (US$ 432.7 million), with live video services contributing significantly to this figure. Despite economic challenges, the company has maintained a solid financial footing and continues to improve profitability through cost control and strategic initiatives.
Recent developments highlight Hello Group's commitment to innovation. In February 2024, the company launched inSpaze, a native immersive social app for Apple Vision Pro in the U.S., leveraging advanced technologies like 3D interaction and spatial computing. This reflects Hello Group's continuous efforts to expand its user base and explore new markets globally.
Investors can access more detailed financial reports and documents on the company’s investor relations website or the SEC’s website. The company also engages in repurchase programs and issues special cash dividends, demonstrating its commitment to returning value to shareholders.
Hello Group (NASDAQ: MOMO), a key player in China's online social networking sector, will release its Q3 2024 unaudited financial results on December 9, 2024, before U.S. markets open. The results cover the quarter ending September 30, 2024. Management will host an earnings conference call on the same day at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong Time).
Participants can preregister for the call at this link to receive dial-in details, passcode, and a unique access PIN. A replay will be available until December 16, 2024, with dial-in numbers and passcode provided in the press release. A live and archived webcast will be accessible on the Investor Relations section of Hello Group's website.
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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