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
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