Q2 2024 Hello Group Inc Earnings Call Transcript
Key Points
- Standalone new apps maintained growth momentum, driven by overseas business.
- Momo app's product team focused on optimizing the community ecosystem and improving female user experience.
- Efforts to improve Momo's social brand perception through pilot programs and algorithm strategies.
- Introduction of new interactive features and props in live streaming to enhance user engagement.
- Overseas business showed significant growth, with a 36% year-over-year increase in revenue from new apps.
- Total group revenue decreased by 14% year over year.
- Adjusted operating income declined by 33% year over year.
- Tantan's total revenue decreased by 27% year over year, mainly due to a reduction in paying users.
- Momo app's live streaming revenue fell by 15% year over year.
- Tantan's user base and revenue showed a slow downward trend due to lack of significant breakthroughs in the core dating experience.
Ladies and gentlemen, thank you for standing by, and welcome to the second-quarter 2024 Hello Group Incorporated earnings conference call. (Operator instructions)
I would now like to hand the conference over to your first speaker today, Ms. Ashley Jing. Thank you. Please go ahead, ma'am.
Thank you, operator. Good morning and good evening, everyone. Thank you for joining us today for Hello Group's second quarter 2024 earnings conference call. The company's results were released earlier today and are available on the company's IR website. On the call today, we have Mr. Tang Yan, CEO of the company; Ms. Zhang Sichuan, COO of the company; and Ms. Peng Hui, CFO of the company.
We will discuss the company's business operations and highlights, as well as the financials and guidance. They will all be available to answer your questions during the Q&A session that follows. Before we begin, I would like to remind you that this call may contain forward-looking statements made under the safe harbor
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