Hello Group (Momo) reported a 5% year-over-year decrease in Q2 revenue to RMB 2.49 billion, with non-GAAP net profit turning profitable at RMB 273.9 million. The company lowered its full-year revenue outlook.
The company's Q2 revenue was RMB 2.49 billion, a 5% year-over-year decrease, but non-GAAP net profit turned from a loss of RMB 96 million in the same period last year to a profit of RMB 273.9 million. Domestic business revenue fell by 17%, mainly due to tax audits and reduced spending by high-value live streaming users; overseas business revenue, however, grew by 52% to RMB 673 million, accounting for 27% of total revenue, benefiting from new products in the Middle East and North Africa. Hello Group has lowered its full-year revenue guidance, expecting a mid-single-digit decline and potentially missing its RMB 3 billion overseas revenue target.
Source:Yahoo财经 · Source Link
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