0.34% +0.025

Hello Group Inc ADR (MOMO)

Overview News Price History Option Chain Why MOMO Down? Discussions Forecast Dividend History

Why is Hello Group Inc ADR (MOMO) Stock down?

We've noticed a 8.88% decline in Hello Group Inc ADR (MOMO) stock during the 2024-04-11 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

14 Mar, 2024:

Hello Group Inc ADR (MOMO) stock dropped by 22.29% the company's quarterly earnings report. The company reported earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.40 per share. This represents a -7.50% earnings surprise compared to the previous quarter.

Earnings and Revenue Performance: Quarterly earnings of $0.37 per share were slightly higher than the earnings of $0.36 per share reported a year ago. However, the company's revenues for the quarter ended December 2023 were $422.95 million, missing the Zacks Consensus Estimate by 5.44% and down from year-ago revenues of $465.79 million.
Market Reaction and Future Expectations: Hello Group Inc ADR shares have added about 10.4% since the beginning of the year, outperforming the S&P 500's gain of 8.3%. However, the significant stock drop following the earnings report indicates investor disappointment with the results. The sustainability of the stock's movement will depend on management's commentary on the earnings call and future earnings expectations. The company has surpassed consensus EPS estimates two times over the last four quarters but missed revenue estimates this quarter.