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Business
Shweta Kumari

Hello Group: A Top Social Media Stock to Watch

MoMo Hello Group China Hello Group Inc Tantan

China's mobile-based social and entertainment services provider, Hello Group Inc. (MOMO), reported its fiscal first-quarter results last month, on May 28, 2024. The company failed to beat the consensus EPS estimate, but its revenue exceeded Wall Street estimates. In this piece, I have discussed why it could be wise to hold the stock now.

In the three-month period that ended March 31, 2024, MOMO reported total revenue of RMB2.56 billion ($352.78 million), down 9.2% year-over-year but well above the analyst estimate of $342.87 million. The dip in revenue was attributed to internal strategic shifts, including reduced emphasis on large-scale competition events within its Momo app and external factors like subdued consumer sentiment.

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