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Why Momo Stock Plunged Today

TheMotleyFool

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Shares of Momo (NASDAQ: MOMO) have plunged today, down by 14% as of 12:10 p.m. EDT, after the company reported second-quarter earnings. The results were mixed relative to expectations but guidance was lacking.

Revenue in the second quarter declined by 7% to 3.87 billion yuan ($547.5 million), which was slightly ahead of the 3.84 billion yuan that analysts were expecting. That translated into adjusted earnings per American depositary share (ADS) of 3.05 yuan ($0.43), also topping the consensus estimate of 2.94 yuan per ADS. Monthly active users (MAUs) fell slightly to 111.5 million, and total paying users were 12.8 million.

Image source: Getty Images.

Source Fool.com

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