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Momo Social Media

Momo Announced a Strong Financial Result for Q4 and FY 2018

March 13, 2019 7:37 am

BEIJING (PingWest) – MoMo Inc. (NASDAQ: MOMO), Chinese leading mobile social network platform, announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2018.

Net revenues increased 50% year over year to RMB3,843.9 million (US$559.1 million) in the fourth quarter of 2018.

Net income attributable to Momo Inc. increased to RMB660.8 million (US$96.1 million) in the fourth quarter of 2018 from RMB644.8 million in the same period of 2017.

Non-GAAP net income attributable to Momo Inc. (note 1) increased 22% to RMB887.4 million (US$129.1 million) in the fourth quarter of 2018 from RMB727.4 million in the same period of 2017.

Diluted net income per American Depositary Share (“ADS”) was RMB3.04 (US$0.44), compared to RMB3.10 in the same period of 2017.

Non-GAAP diluted net income per ADS (note 1) was RMB4.05 (US$0.59), compared to RMB3.49 in the same period of 2017.

Monthly Active Users ("MAU") on Momo application were 113.3 million in December 2018, compared to 99.1 million in December 2017.

Total paying users of our live video service and value-added service, without double counting the overlap, including 3.9 million paying users of Tantan Limited ("Tantan"), were 13.0 million for the fourth quarter of 2018, compared to 7.8 million for the fourth quarter of 2017.

Net revenues increased 51% year over year to RMB13,408.4 million (US$1,950.2 million) for the full year of 2018.

Net income attributable to Momo Inc. was RMB2,815.8 million (US$409.5 million) for the full year of 2018, compared with RMB2,148.1 million for 2017.

Non-GAAP net income attributable to Momo Inc. (note 1) was RMB3,462.1 million (US$503.5 million) for the full year of 2018, compared with RMB2,483.1 million for 2017.

Diluted net income per ADS was RMB13.18 (US$1.92) for the full year of 2018, compared with RMB10.35 for 2017.

Non-GAAP diluted net income per ADS (note 1) was RMB16.17 (US$2.35) for the full year of 2018, compared with RMB11.96 for 2017.

Momo said net revenues are mainly from the live video service, value-add service, mobile marketing service and mobile game revenues. Live video plays the most important role in Q4 net revenue. Although Momo tried to increase revenue from other three services, but it faced some difficulties.

In 2019, Momo plans to increase value-add services, creating more scenarios for users to give virtue gifts.

Due to China’s economy weakness in 2018 and 2019, Momo does not expect a high revenue growth from mobile marketing or mobile game services.