UPDATE: Citi Upgrades Momo Inc. (MOMO) to Buy
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Momo Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2020
March 25, 2021 3:00 AM EDTBEIJING, March 25, 2021 /PRNewswire/ -- Momo Inc. (NASDAQ: MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2020.
Fourth Quarter of 2020 Highlights
Net revenues decreased by 19.0% year over year to RMB3,795.2 million (US$581.6 million*) in the fourth quarter of 2020. Net income attributable to Momo Inc. decreased to RMB651.5 million (US$99.8 million) in the fourth quarter of 2020 from RMB1,055.9 million in the same period of 2019.... More