Hello Group Tops Q1; Tantan Delivers First Quarterly Profit At Operating Level
Portfolio Pulse from Anusuya Lahiri
Hello Group Inc (NASDAQ:MOMO) reported a Q1 FY23 net revenue decline of 10.5% YoY to $410.5 million, beating the consensus of $380.1 million. MAUs on the Momo app decreased, while Tantan delivered its first quarterly profit at the operating level. The company expects Q2 revenue of $438.5 million - $453.1 million, above the consensus of $419.89 million.
June 06, 2023 | 10:58 am
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Hello Group's Q1 FY23 revenue declines but beats estimates, with Tantan achieving its first quarterly operating profit. Q2 revenue outlook is above consensus.
Hello Group's Q1 FY23 revenue decline is a negative factor, but the company beat estimates and Tantan achieved its first quarterly operating profit. The Q2 revenue outlook is also above consensus, which is likely to have a positive short-term impact on the stock price.
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RELEVANCE 100