Hello Group Inc ADR Up 0.87% To $5.17 After Earnings Beat

Thursday, September 1, 2022 - Hello Group Inc ADR (MOMO) reported upside earnings and revenues today.

The consensus among analysts for Hello Group Inc ADR was for an earnings per share (EPS) of $0.25. The firm was able to surpass those projections, reporting an EPS of $0.33, a positive surprise of $0.08 (32%). Profits fell 15% year-over-year after reporting an EPS of $0.39 in its year-ago quarter. The negative growth rate signals that the Communication Services company isn't performing well amid current economic conditions.

Revenues were upbeat at $464.4 million. That represents a 18.34% decrease in revenues from the year-ago report and is 4.28% higher than consensus estimates set at $445.3 million.

The stock is up 0.87% to $5.17 after the report.

Hello Group Inc ADR's revenues declined at a faster pace than earnings.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Hello Group Inc ADR a Neutral Sentiment Rank from InvestorsObserver.

Hello Group Inc ADR has performed a little below average during the past few months. Before the report, Hello Group Inc ADR received a Long-Term Technical Rank by InvestorsObserver of 36, putting it in the bottom half of stocks. The firm set a 52-week low on April 26, 2022 at $4.14 and set a 52-week high on November 15, 2021 at $14.

Hello Group Inc provides mobile-based social networking services. It enables users to establish and expand social relationships based on location and interests. Its platform includes Momo mobile application and a variety of related features, functionalities, tools, and services that it provides to users, customers, and platform partners. It also operates a stand-alone video application called Hani, which features the live video content on its core Momo mobile application. The company derives its revenue from live video service, value-added services, mobile marketing services, mobile games, and other services. It operates in three segments: Momo' service lines, Tantan's service lines, and QOOL's service line out of which Momo' service lines segment derives the majority of revenue.