Hello Group Announces Q1’22 Financial Results

7th June 2022 Luke Smith

Hello Group, a leading mobile social and entertainment platform in China, has announced its unaudited financial results for the first quarter of 2022.

First Quarter of 2022 Highlights

Net revenues decreased by 9.3% year over year to RMB3,148.1 million (US$496.6 million*) in the first quarter of 2022.
Net income attributable to Hello Group Inc. decreased to RMB289.9 million (US$45.7 million) in the first quarter of 2022, from RMB461.7 million in the same period of 2021.
Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB398.5 million (US$62.9 million) in the first quarter of 2022, from RMB633.7 million in the same period of 2021.
Diluted net income per American Depositary Share (“ADS”) was RMB1.42 (US$0.22) in the first quarter of 2022, compared to RMB2.14 in the same period of 2021.
Non-GAAP diluted net income per ADS (note 1) was RMB1.94 (US$0.31) in the first quarter of 2022, compared to RMB2.91 in the same period of 2021.
Monthly Active Users (“MAU”) on Momo application were 110.9 million in March 2022, compared to 115.3 million in March 2021. MAU on Tantan application were 25.6 million in March 2022.
Total paying users of live video service and value-added service, without double counting the overlap and including 2.4 million paying users of Tantan Limited (“Tantan”), were 11.0 million for the first quarter of 2022, compared to 12.6 million for the first quarter of 2021, which included 3.5 million paying users of Tantan.

Li Wang, CEO of Hello Group, said: “Q1 2022 was a challenging yet fruitful quarter for us. I am pleased that our team was able to focus on our product and operational initiatives to cope with the headwinds from the resurgence of COVID-19 and related challenges, getting 2022 off to a good start.”