Momo Inc. (MOMO) PT Lowered to $18.10 at Jefferies

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Momo Announces Unaudited Financial Results for the First Quarter of 2021

June 8, 2021 3:46 AM EDT

BEIJING, June 8, 2021 /PRNewswire/ -- Momo Inc. (NASDAQ: MOMO) ("Momo" or the "Company"), a leading mobile social and entertainment platform in China, today announced its unaudited financial results for the first quarter of 2021.

First Quarter of 2021 Highlights

Net revenues decreased by 3.4% year over year to RMB3,470.6 million (US$529.7 million*) in the first quarter of 2021. Net income attributable to Momo Inc. decreased to RMB461.7 million (US$70.5 million) in the first quarter of 2021 from RMB538.9 million in the same period of 2020. Non-GAAP net income... More