The following is a summary of the Hello Group Inc. (MOMO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Hello Group Inc. reported a decrease in total revenue for Q3 2024 to RMB 2.67 billion, down 12% year-over-year.

• Adjusted operating income fell by 33% year-over-year to RMB 455 million, with operating margin decreasing to 17%.

• Non-GAAP net income attributable to the company was RMB 493.3 million, a 19% decrease year-over-year but a 10% increase from the previous quarter.

Business Progress:

• The Momo app focused on optimizing user experience and enhancing user interactions with new voice-based chat features.

• Revenue growth in the standalone new app increased by 41% year-over-year, driven by overseas expansion.

• Tantan emphasized improving the core dating experience and underwent product upgrades to enhance user authenticity verification and engagement.

• Efforts to increase brand awareness and user acquisition efficiency involved interactive marketing at events and optimizing KOL channel strategies.

Opportunities:

• Continual growth in the standalone new app's revenue, particularly from overseas markets, presents significant growth potential.

• Enhanced focus on user experience and product features in both the Momo and Tantan apps aims to drive higher user engagement and retention.

• Leveraging local operations, and cultural insights could fuel expansion in international markets, especially in the MENA region.

Risks:

• Declining user base and revenue in Tantan, with ongoing need for adjustments to reach profitability.

• Economic challenges impacting user spending behavior, particularly affecting high-revenue generating events in the Momo and Tantan apps.

More details: Hello Group IR

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