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Momo Announces Unaudited Financial Results for the Second Quarter 2016

BEIJING, Aug. 16, 2016 (GLOBE NEWSWIRE) -- Momo Inc. (MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced its unaudited financial results for the second quarter 2016.

Second Quarter 2016 Highlights

  • Net revenues increased 222% year over year to $99.0 million.
  • Net income attributable to Momo Inc. increased 804% to $15.4 million in the second quarter 2016 from $1.7 million in the same period last year.
  • Non-GAAP net income attributable to Momo Inc. (note 1) increased 290% to $23.2 million in the second quarter 2016 from $6.0 million in the same period last year.
  • Diluted net income per American Depositary Share (“ADS”) was $0.08, compared to $0.01 in the same period last year.
  • Non-GAAP diluted net income per ADS (note 1) was $0.12, compared to $0.03 in the same period last year.
  • Monthly Active Users ("MAU")1 were 74.8 million in June 2016, compared to 78.4 million in June 2015.

First Half 2016 Highlights

  • Net revenues increased 163% year over year to $149.9 million for the first half of 2016.
  • Net income attributable to Momo Inc. was $22.5 million for the first half of 2016.
  • Non-GAAP net income attributable to Momo Inc. (note 1) was $35.9 million for the first half of 2016.
  • Diluted net income per ADS was $0.11 for the first half of 2016.
  • Non-GAAP diluted income per ADS (note 1) was $0.18 for the first half of 2016.

“I am pleased with the progresses we made in the second quarter 2016. Our performances reflected our strategic focus on driving user growth through product innovations as well as digging deeper into monetization opportunities.” Commented Yan Tang, Chairman and CEO of Momo.

"In the second quarter our live video business took off as...


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