Momo, one of the top mobile social networking app in China, had Monthly Active Users (“MAU”) of 77.4 million in September 2016, compared to 73.0 million in September 2015 according to its unaudited financial results.
Momo’s net revenues increased 319% year over year to $157.0 million. And, its net income attributable to Momo Inc. increased to $39.0 million in the third quarter 2016 from a net loss of $0.8 million in the same period last year.
Momo launched “Moments”, an interactive short video service in August 2016. Live broadcasting business continued to gain traction and boosted the acceleration in revenue and profit growth of Momo. The rapid growth in live video revenues is mainly because of the increase in paying users of live video service. Paying users of live video service for the third quarter of 2016 reached 2.6 million.
Membership subscription revenues were $18.1 million in the third quarter of 2016, an increase of 13% YoY. Momo VIP members were 3.4 million and 3.3 million as of September 30, 2016 and 2015, respectively.
For the fourth quarter of 2016, the Company expects total net revenues to be between $185 million and $190 million, representing a year-over-year increase of 369% to 381%.