Q4 2024 Hello Group Inc Earnings Call Transcript
Key Points
- Hello Group Inc (MOMO) reported a robust growth in its overseas business, contributing significantly to the group's financial standing.
- The company introduced an AI assistant chat tool to enhance user interaction and improve response rates, particularly targeting female users.
- Revenue from standalone new apps increased by 37% year over year, driven by rapid growth in overseas markets.
- The company has been successful in optimizing user acquisition costs and improving marketing efficiency, particularly through collaborations with influencers on platforms like Douyin.
- Hello Group Inc (MOMO) announced a special cash dividend, marking the seventh consecutive year of returning value to shareholders.
- Total group revenue for Q4 was down 12% year over year, with a significant decline in mobile app revenue.
- The number of paying users decreased, particularly due to a reduction in low-return users, impacting overall user count.
- Live streaming revenue saw a 16% year-over-year decline, attributed to reduced revenue-oriented competition events and spending softness among top-paying users.
- Tantan's revenue and user scale continued to decline, with a 22% year-over-year decrease in Q4 revenue.
- The company faces challenges in maintaining profitability amid declining revenues and macroeconomic headwinds.
Ladies and gentlemen, thank you for standing by and welcome to fourth-quarter and fiscal year 2024 Hello Group Inc earnings conference call. (Operator instructions) Please note that this conference is being recorded today.
I would now like to hand the conference over to your first speaker today, Ms. Ashley Jing. Thank you. Please go ahead, ma'am.
Thank you, Alfrita. Good morning and good evening everyone. Thank you for joining us today for Hello Group's fourth-quarter and fiscal 2024 earnings conference call. The company's results were released earlier today and are available on the company's IR website.
On the call today, Mr. Tan Yan, CEO of the company; Ms. Zhang Sichuan, COO of the company; and Ms. Penng Hui, CFO of the company. They will discuss the company's business operations and highlights, as well as the financials and guidance. They will all be available to answer your questions during the Q&A session that follows.
Before we begin, I would like to remind you that this
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