Momo Slips Despite Beating Its Own Guidance
One of this year's biggest winners was one of Tuesday's biggest losers after posting poorly received financial results. Shares of Momo (NASDAQ: MOMO) declined 20% on the day, but the stock is still trading 96% higher for all of 2017.
It was another period of heady growth for the Chinese video-centric social networking speedster. Revenue soared 215% to $312.2 million, fueled once again by the scintillating growth of its live video platform. Adjusted earnings roughly tripled to $73.8 million or $0.35 a share.
Momo stock took a hit despite blowing through its earlier top-line guidance. In May, the dot-com darling was eyeing $283 million to $288 million in revenue, or growth of 186% to 191%. Momo doesn't provide earnings guidance.
Source: Fool.com
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