RTTNEWS – Hello Group (MOMO), a mobile social and entertainment platform in China, has announced that Li Wang has resigned as the CEO because of health reasons. Executive Chairman Yan Tang has assumed the role. Li Wang will remain with Hello Group as an executive director and president.
Category: Hello Group
Hello Group Targets Tantan Breakeven in 2023
SEEKING ALPHA – Hello Group saw its revenue drop 15% in Q3, and forecast a similar decline in the third. The company's strategy involves a turnaround at its loss-making Tantan, which aims to break even by 2023 by cutting costs and rolling out new functions. The company attributed its sluggish business partly to the resurgence of Covid-19. China's tightening regulation of live streaming businesses with new rules implemented early this year also dealt a heavy blow to the company. Its "live video service" revenue – responsible for about half of its total – fell ~30% to 1.5B yuan YOY during the last quarter. Before announcing a name change last August, Hello was known as Momo and has a history dating back to 2011 when its Tinder-style Momo app first took China's dating scene by storm. In 2018, the company paid $760M to add another "meet-up" app called Tantan to its portfolio.
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Hello Group Q2 Financial Results
HELLO GROUP – Hello Group (Momo) is a leading mobile social and entertainment platform in China. Q2 2022 net revenues decreased by 15.3% YOY to RMB3,110.4M ($464.4M). Net income decreased to RMB345.6M ($51.6M) from RMB464.2M in Q2 2021. Monthly Active Users on Momo app were 111.2M in June 2022, compared to 115.6M in June 2021. MAU on Tantan were 24.8M in June 2022. For the Momo app total paying users was 8.6M in Q2 2022, compared to 9.3M for the same period last year. Tantan had 2.2M paying users in Q2 2022 compared to 3.1M from the year ago period.
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Hello Group Stock Is Attracting Value Speculators
MARKETBEAT – Chinese social media company Hello Group stock has fallen (-34%) over the year despite being profitable. The company operates two major apps, including the social media app MOMO and Tantan, a dating app similar to Tinder. Chinese ADR stocks have mainly fallen out of favor with investors as their financials can't be verified, and Chinese regulators could take companies out of the market. Hello Group Q1 revenues fell by 9.3% YOY to $471.9M, MAU dropped to 110.9M from $115.3M in the year-ago period. The total paying users is 11M, down from 12.6M. The COVID lockdowns had a negative impact resulting in a significant decline in users dating sentiment and ability to pay for VAS.
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Hello Group Q1 Financial Results
PR NEWSWIRE – Hello Group'S Q1 revenues decreased by 9.3% YOY to RMB3,148M ($497M). Net income decreased to RMB290M ($45.7M). Monthly Active Users on Momo app were 111M in March 2022, compared to 115.3M in March 2021. MAU on Tantan were 25.6M in March 2022. Total paying users of live video service and value-added service, including 2.4M paying users of Tantan were 11M for Q1 of 2022, compared to 12.6M in Q1 2021, which included 3.5M paying users of Tantan.
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Hello Group to Say ‘Bye Bye’ to Struggling Tantan App?
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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Hello Group (Momo) Financial Results
PR NEWSWIRE – Hello Group, a leading mobile social and entertainment platform in China, announced its Q4 and 2021 financial results.
Q4 highlights:
- Net revenues decreased by 3.2% YOY to RMB3,674.2M ($576.6M
- Net loss attributable to Hello Group was RMB4,242.7M ($665.8M), compared to a net income of RMB651.5M in Q4 2021.
- Monthly Active Users on Momo app were 114.1M in Dec 2021, compared to 113.8M in Dec 2020. MAU on Tantan application were 27M in Dec 2021.
- Total paying users of live video service and value-added service, including 2.5M paying users of Tantan, were 11.4M for the Q4 of 2021, compared to 12.8M in 2020.
Full year 2021 highlights
- Net revenues decreased 3% YOY to RMB14,575.7M ($2,287.2M) for the full year of 2021. Net loss attributable to Hello Group was RMB2,913.7M ($457.2M) for the full year of 2021, compared to a net income of RMB2,103.5M in 2020.
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Hello Group Q3 Results
PR NEWSWIRE – Hello Group's (formerly MOMO) Q3 revenues decreased by 0.2% YOY RMB3,759.2 million ($583M). Net income decreased to RMB403.2M ($62.6M) from RMB456.7M. Monthly Active Users on Momo app were 115.5M in September 2021, compared to 113.6M last year. Total paying users of live video service and value-added service, including 2.9M paying users of Tantan, were 12.2M, compared to 13.1M, which included 4.1M paying users of Tantan. "The Q3 of 2021 was a good quarter with solid financial results," commented Li Wang, CEO of Hello Group. "For the first time since the beginning of the COVID-19 pandemic, core Momo revenue has achieved YOY growth. Although we still have many hard work to do at Tantan, I am glad that we are finally on track to make concrete progress on the product fronts."
Hello Group Q2 Results for the Second Quarter of 2021
PR NEWSWIRE – Aug 26 – Hello Group (former Momo), a mobile social and entertainment platform in China, announced its Q2 financial results. Net revenues decreased by 5.1% YOY to $569M. Net income increased to $71.9M. Monthly Active Users were 115.6M in June 2021, compared to 111.5M in June 2020. Total paying users of live video service and value-added service, including 3.1M paying users of Tantan, were 12.4M, compared to 12.8M in Q2 2020.
Momo Renamed to Hello Group
PANDAILY – Aug 3 – Momo, Chinese mobile social and entertainment platform, has changed its name from "Momo Inc." to "Hello Group Inc.". The company's main products are Momo and Tantan. Hello Group was established in 2011. On Dec 12, 2014, the company was listed on the NASDAQ Stock Exchange. In May 2018, they completed the acquisition of 100% equity of dating app Tantan.