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Momo Announces Q3 Earnings for 2018

Chinese social network Momo has announced its unaudited Q3 earnings for 2018.

Net revenues increased 51% year-on-year to $536.0 million, while net income was up $6.1 million year-on-year to $85.2 million.

MAU for the Momo app rose from 94.4 million in September 2017 to 110.5 million in September 2018. The total number of paying users on Momo and Tantan combined came to 12.5 million for the third quarter of 2018.

Yan Tang, Chairman and CEO of Momo, says: “I am pleased that we delivered solid operational and financial results for the quarter.”

“At the same time we continued to push forward on product and operational fronts, in order to build up longer term growth drivers as we start to look beyond 2018 into next year.”

Cost and expenses rose 66% year-on-year to $442.1 million in Q3 2018, attributable to an increase in revenue share for livestreamers, a new Momo-sponsored reality show called “Phanta City”, increasing staff costs, increasing marketing costs and amortization expenses.

Net revenues for the first nine months of 2018 were $1,465.4 million, an increase of 57% from $931.9 million in the first nine months of 2017.

Looking forward to Q4, Momo expects net revenues to increase 43-47% year-on-year / 0-3% sequentially. Excluding the Phanta City revenue, increases will likely be nearer 4-7% sequentially.

Read more here.

Scott Harvey

Scott is the Editor of Global Dating Insights. Raised in Dorset, he holds a BA from The University of Nottingham and an MSc from Lund University School of Economics and Management. Previously he has written about politics, economics and technology for various online publications.

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