Momo Inc. (NASDAQ:MOMO) shares advanced on quarterly figures presented Tuesday.
The Beijing-based social network company reported Net revenues increased by 32% year over year to RMB 4,152.6 million ($604.9 million U.S.) in the second quarter of 2019.
Net income attributable to Momo Inc. decreased to RMB 731.8 million ($106.6 million U.S.) in the second quarter of 2019 from RMB 750.2 million in the same period of 2018.
MOMO recognized a total share-based compensation expense of RMB 482.5 million($70.3 million U.S.) in the second quarter of 2019 including a share-based compensation expense of RMB 323.7 million ($47.1 million U.S.) regarding certain share options granted to the founders of Tantan Limited, while the total share-based compensation expense recognized in the same period of 2018 was only RMB134.2 million.
Non-GAAP net income attributable to Momo Inc. increased to RMB 1,242.5 million ($181.0 million U.S.) in the second quarter of 2019, from RMB 893.2 million in the same period of 2018.
Diluted net income per American Depositary Share was RMB3.33 ($0.49 U.S.) in the second quarter of 2019, compared to RMB 3.55 in the same period of 2018.
For the third quarter of 2019, the Company expects total net revenues to be between RMB4.25 billion to RMB4.35 billion, representing an increase of 17% to 19% year over year. These estimates reflect the Company's current and preliminary view, which is subject to change.
Momo connects people in a personal and lively way through a revolutionary mobile-based social networking platform. With powerful and precise location-based features, Momo enables users to connect with each other and expand relationships from online to offline.
MOMO’s stock price took on $2.01, or 6.1%, Tuesday to $34.74
