Why Yalla Stock Popped on Monday Morning
Shares of Yalla Group (NYSE: YALA) popped by as much as 15% this morning after the company reported fourth-quarter earnings. The results were mixed relative to analyst expectations. There is only one Wall Street analyst company (Oppenheimer) that covers the company. As of 11:50 a.m. EDT, the stock had given back most of those gains and was up just 2%.
Revenue in the fourth quarter came in at $48.3 million, ahead of the $41.2 million in sales the market was expecting. That resulted in adjusted earnings per American depositary share (ADS) of $0.06, which was below the consensus estimate of $0.12 per ADS in adjusted profits. The Middle Eastern social media technology company said it now has 16.4 million total monthly active users (MAUs) across its two primary platforms. Total paying users were 5.2 million at the end of 2020.
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Source Fool.com
