Momo, one of the leading mobile social networking app in China, reported increased net revenues of 222% year over year to $99.0 million in Q2 2016 though its monthly active users were down to 74.8 million in June 2016 from 78.4 million in June 2015.
Momo’s net income increased 804% to $15.4 million in the second quarter 2016 from $1.7 million in the same period last year.
Live video feature on Momo ($57.9 million), together with mobile marketing ($16.6 million), drove a 222% year over year growth in our total revenues, reaching $99 million for the second quarter.
Membership subscription revenues were $15.6 million in the second quarter of 2016, an increase of 5% from $14.8 million during the same period of 2015.
Mobile games revenues were $7.4 million in the second quarter of 2016, a decrease of 3% from $7.7 million during the second quarter of 2015. The decrease in game revenues was mainly due to a lesser number of popular games were available on Momo’s platform according to its announced financial results.
Momo’s Performance Highlights for H1 2016
- Net revenues increased 163% year over year to $149.9 million
- Net income attributable to Momo Inc. was $22.5 million
- Non-GAAP net income attributable to Momo Inc. (note 1) was $35.9 million
- Diluted net income per ADS was $0.11