Hello Group falls on Q4 profit miss, weak outlook

Hello

24/03/2022 12:17

** Chinese social media platform Hello Group's shares
 MOMO.O  down 8.8% at $7.5 premarket after co forecasts lower
y-o-y revenue for Q1 2022
    ** Hello Group sees total net revenue for Q1 to be between
RMB3.1 billion and RMB3.2 billion ($486.7 million to $502.4
million), representing a decline of 10.7% to 7.8% y-o-y
    ** The company, which owns mobile apps like Momo and Tantan,
also reported quarterly EPS lower than Street estimates
    ** Co attributed the forecast decline in revenue to market
and operational conditions 
    ** MOMO also announced CFO Jonathon Cheng would be retiring;
to be replaced by Cathy Hui Peng
    ** Up to Wednesday's close, stock had fallen 16.48% YTD,
compared with a 19.7% decline in the NASDAQ OMX China Technology
index  .CHXN9000 

 (Reporting by Raghavi Kasa)
 ((Raghavi.Kasa@thomsonreuters.com;))