Shares of Momo (NASDAQ:MOMO) surged 9% on Aug. 22 after the Chinese social app company posted solid second quarter numbers that topped analyst expectations. Revenue surged 58% year over year to $494.3 million, beating estimates by $14.5 million.
Its non-GAAP net income rose 90% to $140.2 million, or $0.66 per American Depositary Share (ADS). On a GAAP basis, its net income rose 94% to $117.8 million, or $0.56 per ADS. For the third quarter, Momo expects its revenue to rise 51% to 55% annually.
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While those growth figures look incredible, its stock....More>>>