Hello Group Launches Third Quarter Financial Results

Hello Group has launched its unaudited third quarter financial results for 2021. The parent company of Asian dating platforms Momo and TanTan reported a small reduction in net revenue and net income in comparison to the same period in 2020.

The full financial results show that net revenues decreased by 0.2% year over year to $583.4 million USD in the third quarter of 2021. Net income attributable to Hello Group Inc. also decreased to RMB403.2 million (US$62.6 million) in the third quarter of 2021 from RMB456.7 million in the same period of 2020.

Monthly Active Users (“MAU”) on Momo application were 115.5 million in September 2021, compared to 113.6 million in September 2020.

Total paying users of live video service and value-added service, without double counting the overlap and including 2.9 million paying users of Tantan Limited (“Tantan”), were 12.2 million for the third quarter of 2021, compared to 13.1 million for the third quarter of 2020, which included 4.1 million paying users of Tantan.

The past twelve months have been incredibly progressive for Hello Group, following the announcement of a content sharing app for young users, along with additional enhancements for the Tantan platform. However, the financial results for Hello Group during 2021 have been somewhat mixed, with the group missing its revenue estimates in the first quarter results, but then beating the analyst estimates on both revenue and earnings per share in the Q2 results.

Li Wang, CEO of Hello Group, said: “The third quarter of 2021 was a good quarter with solid financial results. We continued to push forward with all of our strategic goals. For the first time since the beginning of the COVID-19 pandemic, core Momo revenue has achieved year-over-year growth. Although we still have many hard work to do at Tantan, I am glad that we are finally on track to make concrete progresses on the product fronts.”

For the fourth quarter of 2021, Hello Group expects total net revenues to be between RMB3.60 billion to RMB3.75 billion, representing a decrease of 5.1% to 1.2% year-over-year.

Read the full results here.