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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