Why Did Investors Dump Momo After Its Earnings Beat?
Shares of Momo (NASDAQ: MOMO) are down over 20% this week after the Chinese social media company reported its third-quarter earnings. That decline is surprising, given Momo easily beat top-and bottom-line estimates.
Revenue rose 126% annually to $354.5 million, beating expectations by $15 million. Its non-GAAP net income rose 89% to $93.8 million, or $0.45 per share, surpassing expectations by $0.07. Its GAAP net income roughly doubled to $79.1 million.
Momo's mobile app. Image source: Google Play.
Source: Fool.com
Hello Group Inc. ADR Stock
€5.55
-3.480%
Currently there is a rather positive sentiment for Hello Group Inc. ADR with 5 Buy predictions and 0 Sell predictions.
With a target price of 20 € there is potential for a 260.36% increase which would mean more than doubling the current price of 5.55 € for Hello Group Inc. ADR.
