BRIEF: Hello Group revenue decline accelerates in second quarter
Dating app operator Hello Group Inc. (MOMO.US) said on Tuesday its revenue and profit declined in the second quarter, as business from its new apps failed to offset double-digit declines for its core Momo and Tantan apps. The company’s latest quarterly revenue fell 14.2% year-on-year to 2.7 billion yuan ($379 million), accelerating from a 9.2% decline in the first quarter. Its profit dropped 30% to 398 million yuan from 568 million yuan a year earlier.
Quarterly revenue from its Momo app fell 12.8% to 2.46 billion yuan, accounting for more than 90% of its total. Quarterly revenue from its Tantan app dropped by 27% year-on-year to 234 million yuan. The company said the declines were partly offset by gains for its newer apps, but did not provide more details.
Reporting by Doug Young
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Hello Group takes its matchmaking skills beyond China
MOMO.US -
BRIEF: Paying user decline drags down Hello Group’s profit
MOMO.US
-
Baozun returns to the black as Gap expansion accelerates
9991.HK BZUN.US
-
DouYu swims away from livestreaming in search of fresher waters
DOYU.US
-
ZG Group set to forge Hong Kong’s second De-SPAC listing
2572.HK
-
ECARX reports its first profit, expects added revenue from Volkswagen tie-up
ECX.US
-
BRIEF: China Tourism Group Duty Free’s revenue, profit decline in 2024
1880.HK
