Stock Track | Hello Group Soars Over 11% Pre-Market on Stellar Q3 2024 Results, Outperforming Estimates

Stock Track12-09

Hello Group Inc (MOMO) shares soared over 11% in the pre-market session on Monday, following the company's impressive third-quarter 2024 earnings release. The Chinese social networking platform delivered better-than-expected results across key financial metrics, fueling investor optimism and driving the significant stock price surge.

For Q3 2024, Hello Group reported adjusted earnings per share of $0.38, handily beating the consensus estimate of $0.27. Total revenue for the quarter stood at $381.14 million, exceeding analysts' projections of $366.41 million. The robust performance was driven by strong growth across the company's various business segments, including live video services, value-added services, and mobile marketing.

Notably, Hello Group's live video service revenue rose to $345.54 million, propelled by an expanding user base and higher paying ratio. The value-added service segment also exhibited robust growth, generating $284.69 million in revenue. Additionally, the company's mobile marketing revenue increased to $7.12 million, reflecting its efforts to diversify its revenue streams.

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