Saturday, December 5, 2020
Financial Results News

Momo Revenues Decreased By 6.8% To $547.5 Million in the Second Quarter of 2020.

Momo Inc. (NASDAQ: MOMO), a leading mobile social networking platform in China, today announced its unaudited financial results for the second quarter of 2020.

Second Quarter of 2020 Highlights

  • Net revenues decreased by 6.8% year over year to RMB3,868.3 million (US$547.5 million*) in the second quarter of 2020.
  • Net income attributable to Momo Inc. decreased to RMB456.4 million (US$64.6 million) in the second quarter of 2020 from RMB731.8 million in the same period of 2019.
  • Non-GAAP net income attributable to Momo Inc. (note 1) decreased to RMB669.8 million (US$94.8 million) in the second quarter of 2020, from RMB1,242.5 million in the same period of 2019.
  • Diluted net income per American Depositary Share (“ADS”) was RMB2.11 (US$0.30) in the second quarter of 2020, compared to RMB3.33 in the same period of 2019.
  • Non-GAAP diluted net income per ADS (note 1) was RMB3.05 (US$0.43) in the second quarter of 2020, compared to RMB5.60 in the same period of 2019.
  • Monthly Active Users (“MAU”) on Momo application were 111.5 million in June 2020, compared to 113.5 million in June 2019.
  • Total paying users of our live video service and value-added service, without double counting the overlap and including 3.9 million paying users of Tantan Limited (“Tantan”), were 12.8 million for the second quarter of 2020, compared to 11.8 million for the second quarter of 2019, which included 3.2 million paying users of Tantan.

First Half of 2020 Highlights

  • Net revenues decreased 5.2% year over year to RMB7,462.3 million (US$1,056.2 million) for the first half of 2020.
  • Net income attributable to Momo Inc. was RMB995.3 million (US$140.9 million) for the first half of 2020, compared with RMB1,021.1 million during the same period of 2019.
  • Non-GAAP net income attributable to Momo Inc. (note 1) was RMB1,406.0 million (US$199.0 million) for the first half of 2020, compared with RMB2,152.8 million during the same period of 2019.
  • Diluted net income per ADS was RMB4.57 (US$0.65) for the first half of 2020, compared with RMB4.71 during the same period of 2019.
  • Non-GAAP diluted net income per ADS (note 1) was RMB6.39 (US$0.90) for the first half of 2020, compared with RMB9.75 during the same period of 2019.
87 thoughts on “Momo Revenues Decreased By 6.8% To $547.5 Million in the Second Quarter of 2020.
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