Hello Group Reports Downtrend in Q2 2024 Earnings

Hello Group (MOMO) has released an update.

Hello Group Inc., a prominent online social network in China, reported a drop in their financial performance for Q2 2024, with net revenues falling by 14.2% to $370.3 million, and net income decreasing to $54.7 million from the previous year’s quarter. The company also saw a decline in Monthly Active Users on its Tantan app and a decrease in total paying users across its platforms, despite efforts to innovate and adapt in a challenging economic climate.

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