SEEKING ALPHA – The company often called the 'Tinder of China' says revenue from its Tantan unit purchased in 2018 plunged 40% in last year's Q4. Hello Group's revenue fell 3.2% in the Q4, with an even larger decline forecast in the current quarter, dragged down by plunging business for its Tantan unit. The company, previously known as Momo, said the tough times will continue into the start of this year, especially for Tantan. Investors weren't too upbeat on the report, with Hello Group's stock falling 5.1% in the two trading days after the results were announced. The company said it expects overall revenue to fall by 7.8% to 10.7% in the Q1 – far worse than the Q4 decline – indicating not only that Tantan's revenue will continue to drop but that Momo may also fall too. But analysts are predicting the trend should bottom out later this year, forecasting an 8% rise in 2022 revenue compared to 2021's level.
by Doug Young
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