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China’s online dating leader still faces daunting challenges.
Momo (MOMO 1.79% ) , the Chinese tech company that owns two of the country’s leading dating apps, recently posted its first-quarter earnings. Its revenue dipped 3.4% year over year to 3.47 billion yuan ($529.7 million), missing estimates by $3.1 million. Its adjusted net income declined 14% to 634 million yuan ($96.7 million), or $0.44 per ADS, which still beat expectations by $0.11.
Momo expects its revenue to fall 4.3% to 6.9% in the second quarter.Read More