Momo, one of the top social networking mobile app, monthly active users (“MAU”) reached 91.3 million in June 2017, compared to 74.8 million in June 2016 according to its financial results.
Its user growth was driven by the expansion of the video content ecosystem. The usage of short video service has reached new milestones and revenues from live video service have hit new record highs.
Momo’s total paying users of its value-added service were 4.5 million and 3.2 million as of June 30, 2017 and 2016, respectively.
Its net revenues increased 215% year over year to $312.2 million. Net income attributable to Momo Inc. increased to $60.8 million in the second quarter of 2017 from $15.4 million in the same period last year.
Live video service continued its momentum and generated revenues of $259.4 million in Q2 2017. The rapid growth in live video revenues was largely contributed by the increase in the quarterly paying users, which was 4.1 million for the second quarter of 2017, and to a lesser extent, the increase in the average revenues per paying user per quarter.
Non-GAAP net income attributable to Momo Inc. (Note 1) increased 218% to $73.8 million in Q2 2017 from $23.2 million in Q2 2016.