Momo, one of the top mobile social networking platform in China, announced total net revenues of $494.3 million in Q2 2018 with an increase of 58% YoY, according to its unaudited financial results.
Net income attributable to Momo increased to $117.8 million in the second quarter of 2018 from $60.8 million in the same period last year. Non-GAAP net income attributable to Momo increased 90% to $140.2 million from $73.8 million in Q2 2017.
Live video service revenues continued its growth momentum and the total live video service revenues were $411.0 million in Q2 2018 (83% of total), an increase of 58% from $259.4 million during Q2 2017. The rapid growth in live video revenues was contributed by the increase in the quarterly paying users, which was 4.6 million for Q2 2018, as well as, the increase in the average revenues per paying user per quarter.
Momo’s Monthly Active Users (“MAU”) were 108.0 million in June 2018, compared to 91.3 million in June 2017. Total paying users of its live video service and value-added service, including 3.1 million paying users of Tantan in June 2018, were 11.6 million for Q2 2018, compared to 7.1 million in Q2 2017.
China social media users compared: Weibo vs WeChat vs Momo