MOMO dropped heavily after better than expected results, do not know the reason, except some 7x volume.
Momo reported second-quarter revenue of $312.2 million, up 215% year over year and about $26 million higher than the average analyst estimate. Live video service generated $259.4 million of revenue, up from $57.9 million in the prior-year period, driven by 4.1 million paying users. Value-added service revenue rose 58% to $24.6 million, mobile marketing revenue grew 15% to $19.0 million, and mobile game revenue jumped 23% to $9.1 million. Companywide monthly active users totaled 91.3 million, up from 74.8 million one year ago.Non-GAAP diluted net income per ADS was $0.35, up from $0.08 in the prior-year period and $0.04 higher than analysts expected. The earnings surge was driven by higher revenue, partially offset by rapidly rising costs.
For the third quarter, Momo expects to produce revenue between $337 million and $342 million, up 115% to 118% year over year. Analysts were anticipating revenue guidance of $307 million.
Got some at 37.19. Comment pros and cons.
Submitted August 23, 2017 at 10:05AM by firebyrealestate http://ift.tt/2w3ul6o
