On March 25, Beijing time, China's leading mobile social networking platform Nasdaq: MOMO (Nasdaq: MOMO) announced unaudited financial results for the fourth quarter and full year of 2020. Financial reports show that in the fourth quarter of 2020, Momo's net revenue reached 3,795.2 million yuan (approximately US$581.6 million). Not measured in accordance with US GAAP standards, net profit attributable to Momo's parent company in the fourth quarter of 2020 was 836.4 million yuan (approximately US$128.2 million), which continued to be profitable for 24 quarters.
In 2020, Momo's net revenue reached 15.024.2 billion yuan (approximately US$2,302.6 billion). Net profit attributable to Momo's parent company was 2,896.2 million yuan (approximately US$443.9 million), not measured in accordance with US GAAP. The diluted net profit per share of American Depositary Shares (ADS) was 13.16 yuan (approximately $2.02), as measured in accordance with US GAAP.
According to data compiled by Bloomberg, the 11 Wall Street analysts estimated on average that Momo's revenue for the fourth quarter of 2020 would be $3,682.2 billion. According to financial reports, Momo's revenue for the fourth quarter of 2020 was 3,795.2 billion yuan, exceeding Wall Street expectations.
Fourth quarter 2020 results summary
Net revenue reached $3,795.2 million (approximately US$581.6 million).
Net profit attributable to Momo's parent company was 651.5 million yuan (about US$99.8 million). Net profit attributable to Momo's parent company was 836.4 million yuan (approximately US$128.2 million), not measured in accordance with US GAAP.
The diluted net profit per American Depositary Share (ADS) was $2.98 (approximately $0.46). Not measured in accordance with US GAAP, the diluted net profit per share of American Depositary Shares (ADS) is 3.80 yuan (...