China's Entertainment Firm, Hello Group, Surpasses Revenue Expectations Amidst User Decline
Portfolio Pulse from Anusuya Lahiri
Hello Group Inc (NASDAQ:MOMO) reported a Q2 FY23 net revenue growth of 0.9% YoY to $432.7 million, surpassing the consensus of $416.8 million. However, the company saw a decline in Monthly Active Users (MAU) on the Tantan application and total paying users of its Momo app. The company's Q3 revenue outlook is lower than the consensus estimate.
August 31, 2023 | 11:16 am
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Hello Group Inc's Q2 FY23 net revenue surpassed expectations despite a decline in user base. However, the company's Q3 revenue outlook is lower than the consensus estimate.
Despite beating Q2 revenue expectations, Hello Group Inc saw a decline in its user base, which could potentially impact future revenues. The company's Q3 revenue outlook is also lower than the consensus estimate, which could negatively impact the stock price in the short term.
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