Momo (MOMO) Tops Q3 EPS by 10c; Guides Well Above the Street
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Momo (NASDAQ: MOMO) is up 9% in pre-open trade after the company reported Q3 EPS of $0.24, $0.10 better than the analyst estimate of $0.14. Revenue for the quarter rose 319% to $157 million versus the consensus estimate of $130.5 million.
Momo sees Q4 revenue of $185-190 million, versus the consensus of $140.6 million.
“Q3 2016 was a remarkable quarter for us, with achievements on product innovations, business operations as well as financial results.” Commented Yan Tang, Chairman and CEO of Momo. "Live broadcasting business continued to gain traction and boosted the acceleration in revenue and profit growth. At the same time we are making good progress with our strategy to drive the convergence of video and social activities on our platform. We launched “Moments”, an interactive short video service in August. We are happy to see that an increasing number of users on our platform are realizing that video, as compared to text and graphic based content, delivers a more compelling and immersive social and entertainment experience. By deeply integrating video elements into every major social scenarios on Momo and providing more entertaining content to our users, we could substantially broaden the core use cases on Momo and raise the ceilings of our total addressable audience.”
For earnings history and earnings-related data on Momo (MOMO) click here.
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