Hello Group Inc. (MOMO), an entertainment services provider, slightly slid by 0.40% during Wednesday’s regular trading session to close the day at $7.50. In the current market, MOMO stock has further plunged by 10.80% and hence was trading at $6.69 when last checked. The decline could be attributed to the announcement of frail financial results.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Q4 2021 Results
Hours ago, MOMO announced the results for Q4 2021. The total revenues generated during the quarter were $576.6 million, a decrease of 3.2% on a year-over-year basis. The net loss endured by the company was $665.8 million versus the net income of $102.2 million generated during Q4 2020. The diluted net loss per ADS was estimated to be $3.37 during the quarter compared to diluted net income per ADS of $0.47.
FY 2021 Results
Alongside, MOMO also announced the results for the full year 2021. The net revenues generated during fiscal 2021 were $2.28 billion, a decrease of 3% on a year-over-year basis. The net loss attributable to the company during the period was $457.2 million compared to the net income of $16.17 million generated during the fiscal year 2020. The diluted net loss per ADS for fiscal 2021 was $2.26 compared to the diluted net income of $1.51 during FY 2020.
Comments from MOMO CEO
Li Wang, CEO of MOMO, commented that 2021 has proven to be a busy year for the company. The company has been able to execute its strategies and obtain positive results despite facing numerous challenges. Hello, Group remains confident that it would be able to tackle the challenges during the fiscal year 2022.
What’s Ahead for MOMO?
Looking ahead, analysts are of the view that MOMO stock holds several negative signals currently. Hence, it is expected to perform weakly in the next couple of weeks. Investors should take careful decisions regarding their investment in MOMO stock.
