Jenny Jan's questions to Hello Group Inc (MOMO) leadership • Q2 2024
Question
Jenny Jan from UBS asked for an update on the progress of Hello Group's overseas business and requested any financial outlook or guidance for the segment for the current year.
Answer
CEO Yan Tang outlined three growth factors for the overseas business: strengthening localized operations, expanding product offerings to include live-streaming, and expanding into the GCC region. He acknowledged that progress on localization was slower than anticipated. CFO Cathy Peng elaborated that the company needs to build up local operational infrastructure, which may cause the year-over-year growth rate to slow from Q1 levels to the mid-30% range in the second half of the year as they lay the groundwork for future expansion.