Is Momo Still an Undervalued Growth Stock?
Momo's (NASDAQ: MOMO) stock recently dipped after the Chinese tech company posted its first-quarter earnings. Its revenue dipped 3.5% annually to 3.59 billion yuan ($507.6 million), beating estimates by $19.4 million but marking the company's first quarter of declining revenue since its IPO in late 2014.
Momo's adjusted net income fell 19% to 736.3 million yuan ($104 million), or $0.47 per ADS -- which still topped expectations by a nickel. Its numbers cleared analysts' low expectations, but investors weren't impressed, and its stock remains down about 40% for the year.
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Source Fool.com
