Momo has published its Q4 and Full Year earnings report following the recent acquisition of Tantan.
One highlight from the report was that year-on-year Q4 revenue had increased 57% to $386.4 million.
Net Q4 income at Momo increased to $97.5 million from $83.8 million last year.
The number of monthly active users was 99.1 million in December 2017, compared to 81.1 million in December 2016.
Full year net revenues increased 138% year-on-year to $1,318.3 million.
Full year net income attributable to Momo Inc. was $318.6 million for 2017, up significantly from $145.3 million in 2016.
“We had a good fourth quarter, capping off a remarkable year. I am happy to see the initiatives that we took in prior quarters started to bear early fruits,” says Yan Tang, Chairman and CEO of Momo.
“Net addition in MAU reaccelerated in the quarter with improving user retention and engagement. Such reacceleration shows the effectiveness of our product and content strategy as well as the improvement in the top of the funnel efficiency driven by our new marketing system.
“In addition, due to the initiatives that we have been taking since the fourth quarter, the content ecosystem around the live streaming service is seeing substantial development as we entered into the new year, providing a solid foundation for us to continue to drive content improvement and business growth for live streaming business going forward. ”
The earnings narrowly exceeded Wall Street expectations – Seeking Alpha report that a Q4 revenue of $381.5 million was predicted.
Find the report here.