Hello Group Announces Q2’22 Financial Results

1st September 2022 Luke Smith

Hello Group Inc. has announced its unaudited financial results for the second quarter of 2022. Some of the financial highlights are below:

Second Quarter of 2022 Highlights

Net revenues decreased by 15.3% year over year to RMB3,110.4 million (US$464.4 million*) in the second quarter of 2022.
Net income attributable to Hello Group Inc. decreased to RMB345.6 million (US$51.6 million) in the second quarter of 2022, from RMB464.2 million in the same period of 2021.
Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB463.5 million (US$69.2 million) in the second quarter of 2022, from RMB551.0 million in the same period of 2021.
Diluted net income per American Depositary Share (“ADS”) was RMB1.68 (US$0.25) in the second quarter of 2022, compared to RMB2.15 in the same period of 2021.
Non-GAAP diluted net income per ADS (note 1) was RMB2.22 (US$0.33) in the second quarter of 2022, compared to RMB2.54 in the same period of 2021.
Monthly Active Users (“MAU”) on Momo application were 111.2 million in June 2022, compared to 115.6 million in June 2021. MAU on Tantan application were 24.8 million in June 2022.
For the Momo app total paying users was 8.6 million for the second quarter of 2022, compared to 9.3 million for the same period last year. Tantan had 2.2 million paying users for the second quarter of 2022 compared to 3.1 million from the year ago period.

First Half of 2022 Highlights

Net revenues decreased 12.4% year over year to RMB6,258.5 million (US$934.4 million) for the first half of 2022.
Net income attributable to Hello Group Inc. was RMB635.5 million (US$94.9 million) for the first half of 2022, compared to RMB925.8 million during the same period of 2021.
Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB862.0 million (US$128.7 million) for the first half of 2022, compared to RMB1,184.6 million during the same period of 2021.
Diluted net income per ADS was RMB3.11 (US$0.46) for the first half of 2022, compared to RMB4.29 during the same period of 2021.
Non-GAAP diluted net income per ADS (note 1) was RMB4.16 (US$0.62) for the first half of 2022, compared to RMB5.45 during the same period of 2021.

“The COVID resurgence in the first half of 2022 has brought many challenges and uncertainties to the overall market environment and our execution of strategic goals. However, I’m pleased to see that our team managed to deliver good results in the second quarter by adjusting our product and operational initiatives in a timely manner to cope with external headwinds, at the same time adapting our execution plan to fit the evolving external environment.” commented Li Wang, CEO of Hello Group.