Momo Keeps Slowing, and That's OK
Growth may be slowing down at Momo (NASDAQ: MOMO), but at least the pace of the top-line deceleration at the Chinese social video and online dating specialist is moderating. Momo stock opened higher on Tuesday morning after the company posted better-than-expected financial results.
Net revenue rose 32% to hit $604.9 million in the second quarter. Momo's top-line results have decelerated in all but one of the past 10 quarters, but this is still a relative victory. Momo's growth pace may have slowed from the 35% increase it posted in the first quarter, but it still landed well above the 27% to 30% year-over-year gain that it was targeting in mid-May.
Image source: Momo.
Source Fool.com
