Hello Group Inc. Announces Unaudited Financial Results for the Second Quarter of 2023

Short summary:

Hello Group Inc. Q2 2023 Financial Results Highlights:

• Company: Hello Group Inc., a prominent mobile social and entertainment platform in China.
• Q2 2023 Net Revenues: Increased by 0.9% YoY to RMB3,137.7 million (US$432.7 million).
• Q2 2023 Net Income: Rose to RMB568.4 million (US$78.4 million), up from RMB345.6 million in Q2 2022.
• Non-GAAP Net Income for Q2 2023: RMB632.1 million (US$87.2 million), an increase from RMB463.5 million in Q2 2022.
• Diluted Net Income per ADS: RMB2.82 (US$0.39) in Q2 2023, a jump from RMB1.68 in Q2 2022.
• Monthly Active Users (MAU) for Tantan: 17.3 million in June 2023, a decrease from 24.8 million in June 2022.
• Paying Users: 7.9 million for Momo app and 1.4 million for Tantan in Q2 2023, down from 8.6 million and 2.2 million respectively in Q2 2022.

First Half of 2023 Highlights:

• Net Revenues: Declined by 4.8% YoY to RMB5,956.5 million (US$821.4 million).
• Net Income: RMB958.7 million (US$132.2 million) for H1 2023, up from RMB635.5 million in H1 2022.
• Diluted Net Income per ADS: RMB4.78 (US$0.66) for H1 2023, compared to RMB3.11 in H1 2022.

Statements from the Leadership:

Yan Tang, CEO, remarked on the solid Q2 results and noted the significant growth and diversification of Hello Group since its inception. Sichuan Zhang, COO, emphasized the company’s first YoY topline growth since the pandemic onset, attributing it to Momo’s recovery and efficient cost control measures leading to Tantan’s break-even.

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