Hello Group shares up after Q3 results beat

Hello

08/12/2023 11:07

** U.S listed shares of Chinese social media co Hello Group
 MOMO.O  rise 8.4% to $7.12 premarket after co's Q3 results beat
estimates
    ** Co sees Q4 revenue in the range of RMB 2.9 bln to RMB 3
bln ($404.89 mln-$418.85 mln), in line with estimates of RMB
2.96 bln - LSEG 
    ** Co reports Q3 profit of RMB 3.05/shr, vs estimates of RMB
2.49/shr and revenue of RMB 3.04 bln ($417.1 mln), above
estimates of RMB 2.96 bln - LSEG data 
    ** MOMO's initiatives on cost optimization and efficiency
improvements enabled co to maintain stability - CEO Yan Tang
    ** Out of 13 brokerages that track the stock, seven rate
"buy" or high and six rate "hold"
        ** Upto Thursday's close, MOMO dropped 19.9% YTD 
        
  
($1 = 7.1625 Chinese yuan renminbi)

 (Reporting by Pranav Kashyap in Bengaluru)