Hello Group rises after Q1 results beat, upbeat rev forecast

Hello

06/06/2023 10:36

** Shares of Chinese social media co Hello Group  MOMO.O  up
6.3% at $9.50 premarket
    ** Q1 net revenue & adj net income per ADS beat estimates
    ** Co forecasts Q2 2023 total net revenues to be between 3.0
billion yuan ($421.41 million) to 3.1 billion yuan($435.45
million), above current analysts' estimates
    ** Co says monthly active users on Momo application fell to
106.5 mln in March 2023 vs 110.9 million in March 2022
    ** Up to last close, stock had risen 9% YTD

($1 = 7.1190 Chinese yuan renminbi)

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))