Hello Group reported Q2 2024 net revenues of RMB2.69 billion ($370.3M), down 14.2% YoY, while net income decreased to RMB397.8 million ($54.7M) from RMB568.4 million in Q2 2023. The decline was primarily due to decreased live video service revenues, which fell 18% YoY to RMB1.30 billion amid proactive operational adjustments and soft consumer sentiment.Monthly Active Users on Tantan app dropped to 12.9 million in June 2024 from 17.3 million a year ago. Momo app's paying users decreased to 7.2 million from 7.9 million, while Tantan's paying users declined to 1.0 million from 1.4 million YoY. Value-added service revenues fell 10.3% to RMB1.35 billion.The company maintained strong cash position with total cash and deposits of RMB14.32 billion ($1.97B) as of June 2024. The board has extended and upsized the share repurchase program to $286.1 million through June 2026, with $174.6 million already utilized at an average price of $5.63 per ADS.

Hello Group reported Q2 2024 net revenues of RMB2.69 billion ($370.3M), down 14.2% YoY, while net income decreased to RMB397.8 million ($54.7M) from RMB568.4 million in Q2 2023. The decline was primarily due to decreased live video service revenues, which fell 18% YoY to RMB1.30 billion amid proactive operational adjustments and soft consumer sentiment.Monthly Active Users on Tantan app dropped to 12.9 million in June 2024 from 17.3 million a year ago. Momo app's paying users decreased to 7.2 million from 7.9 million, while Tantan's paying users declined to 1.0 million from 1.4 million YoY. Value-added service revenues fell 10.3% to RMB1.35 billion.The company maintained strong cash position with total cash and deposits of RMB14.32 billion ($1.97B) as of June 2024. The board has extended and upsized the share repurchase program to $286.1 million through June 2026, with $174.6 million already utilized at an average price of $5.63 per ADS.