Hello Group (MOMO, $8.93) posts fiscal Q3 revenue decrease
Hello Group Inc.’s third-quarter FY22 net revenue fell -14% year-on-year to $454.5 million,but surpassed the consensus of $445.8 million (according to Benzinga report).
Revenues from the Live video service plunged -23.5% year-over-year to $233.0 million. Total value-added service was up +0.3% y/y to $216.2 million, while Mobile marketing revenue decreased -34.8% Y/Y to $4.0 million. Mobile games segment revenue, at $1.1 million, was lower by -4.1% y/y.
Non-GAAP net income per ADS came in at $0.37 beat the consensus of $0.30.
Monthly Active Users (MAU) on the Momo application were 108.8 million in September 2022, down from 115.5 million in September 2021. Total paying users of its Momo app was 8.4 million in Q3 FY22, vs. 9.3 million in Q3 FY21.
For Q4, Hello is expecting a revenue decrease of -11.5% to -14.3% Y/Y (i.e. implying $460.5 million - $475.1 million of revenue-- above analysts’ expectations of $454.3 million, according to a Benzinga report).
MOMO sees its Stochastic Oscillator ascending out of oversold territory
On July 26, 2024, the Stochastic Oscillator for MOMO moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 61 instances where the indicator left the oversold zone. In of the 61 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
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a holding company, which through its subsidiaries operates a mobile-based social networking platform
Industry InternetSoftwareServices