Thursday, December 1, 2022
HomeBusinessMomo Inc. (NASDAQ:MOMO) - Hey Shares Dive Put up Dismal Q1 Steerage...

Momo Inc. (NASDAQ:MOMO) – Hey Shares Dive Put up Dismal Q1 Steerage Amid China’s Home Tech Crackdown

  • Hey Group Inc (NASDAQ: MOMOreported a fourth-quarter FY21 internet income decline of three.2% year-on-year to $576.6 million, beating the consensus of $567.96 million.
  • Drivers: Month-to-month Energetic Customers (MAU) on the Momo software had been 114.1 million in December 2021 versus 113.8 million in December 2020.
  • Complete paying customers of its reside video service and value-added service declined 10.9% Y/Y to 11.4 million.
  • Additionally Learn: China Asks US-Listed Firms To Put together For Audit Inspections: Will That Ease Delisting Fears For BABA And Others?Here is Why Alibaba, Tencent Look To Tighten NFT Norms
  • Segments: Revenues from the Stay video service declined 7.7% Y/Y to $337.2 million, Complete value-added service elevated 5.3% Y/Y to $231.6 million, Cell advertising and marketing fell 51.8% Y/Y to $4.0 million, and Cell video games rose 163.1% Y/Y to $3 million.
  • Internet revenues from the Momo section rose 6% Y/Y to $507.7 million, whereas the Tantan section revenues decreased 41% to $68.6 million.
  • Non-GAAP earnings from operations deteriorated by 35.6% Y/Y to $79.6 million. Non-GAAP internet earnings per ADS of $0.22 missed the consensus of $0.26.
  • Hey Group held $2.5 billion in money and equivalents and generated $104.4 million in working money stream.
  • Outlook: Hey sees Q1 income lower of 10.7% – 7.8% Y/Y, representing $496 million – $512 million, beneath the consensus of $594.1 million.
  • Hey Group additionally introduced that its CFO Jonathon Zhang will retire efficient June 30, 2022. It has named Cathy Hui Peng, SVP of company finance, to imagine the function of CFO following Zhang’s retirement.
  • Value Motion: MOMO shares traded decrease by 9.33% at $6.80 within the premarket session on the final verify Thursday.



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