Momo Slips Despite Beating Its Own Guidance

Momo Slips Despite Beating Its Own Guidance

One of this year's biggest winners was one of Tuesday's biggest losers after posting poorly received financial results. Shares of Momo (NASDAQ: MOMO) declined 20% on the day, but the stock is still trading 96% higher for all of 2017.

It was another period of heady growth for the Chinese video-centric social networking speedster. Revenue soared 215% to $312.2 million, fueled once again by the scintillating growth of its live video platform. Adjusted earnings roughly tripled to $73.8 million or $0.35 a share.

Momo stock took a hit despite blowing through its earlier top-line guidance. In May, the dot-com darling was eyeing $283 million to $288 million in revenue, or growth of 186% to 191%. Momo doesn't provide earnings guidance.

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Source: Fool.com