Momo (MOMO) Tops Q1 EPS by 12c, Sales Beat

Momo (NASDAQ: MOMO) reported Q1 EPS of $0.44, $0.12 better than the analyst estimate of $0.32. Revenue for the quarter came in at $265.2 million versus the consensus estimate of $242.82 million.

• Net revenues increased 421% year over year to $265.2 million.
• Net income attributable to Momo Inc. increased to $81.2 million in the first quarter of 2017 from $7.1 million in the same period last year.
• Non-GAAP net income attributable to Momo Inc. (note 1) increased 615% to $90.7 million in first quarter of 2017 from $12.7 million in the same period last year.
• Diluted net income per American Depositary Share was $0.40, compared to $0.03 in the same period last year.
• Non-GAAP diluted net income per ADS (note 1) was $0.44, compared to $0.06 in the same period last year.
• Monthly Active Users ("MAU")[1] were 85.2 million in March 2017, compared to 72.3 million in March 2016

"The first quarter was a good start for the year 2017 with remarkable achievements across all of our strategic priorities," commented Yan Tang, Chairman and CEO of Momo. "Looking ahead into the future, we will continue to push forward with our strategy to drive the video transition and introduce more entertaining content to build recreational activities. We believe that will help us to further lower the barrier and increase the efficiency of open social activities, and thus allow us to appeal to a much broader base of users. We have more fun to introduce ahead and will unfold them one by one as we move down the journey."

For earnings history and earnings-related data on Momo (MOMO) click here.

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