Voice-chat app Yalla rises on revenue jump
09/11/2021 14:15
** U.S.-listed shares of Yalla Group YALA.K up 14.1% at
$8.39 premarket
** Yalla is a voice-centric social networking and
entertainment platform in the Middle East and North Africa
regions
** Co tracking its best day since June 1
** YALA reports a 110.8% rise in Q3 revenue to $71.3 mln
** Quarterly profit declines to 18 cents per share from 20
cents a share
** YALA's average monthly active users increased by 81.9% to
25.9 mln in Q3 2021 from 14.3 mln in Q3 2020
** Paying users increased by 51.3% to 7.7 mln in Q3
** YALA also appoints Saeed Al Hamli, former CEO of Etisalat
Egypt, as an independent director urn:newsml:reuters.com:*:nASA02RD3
** Three of four brokerages rate the stock "buy" and one
"hold"; their median PT is $8.1 - Refinitiv data
** Through last close, stock down 48.6% this year
(Reporting by Bansari Mayur Kamdar)
((BansariMayur.Kamdar@thomsonreuters.com;))