Hello Group Inc. Faces Q1 Revenue Decline
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Hello Group Inc. Faces Q1 Revenue Decline

Hello Group (MOMO) has released an update.

Hello Group Inc., a key online social networking company in China, reported a decrease in net revenues of 9.2% for Q1 2024, with net income dropping significantly from RMB390.3 million to RMB5.2 million year over year. The company experienced a downturn in both its live video and value-added services, alongside a decline in Monthly Active Users and paying users for its apps Momo and Tantan. Despite these challenges, Hello Group remains focused on product innovation and global market expansion.

For further insights into MOMO stock, check out TipRanks’ Stock Analysis page.

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