Momo Inc (ADR) (NASDAQ:MOMO) stock was flying high today following the release of its earnings report for the fourth quarter of 2017.
Momo Inc (ADR) reported earnings per share of 53 cents for the fourth quarter of the year. This is up from its earnings per share of 44 cents from the same period of the year prior. It is also a boon to MOMO stock by coming in above Wall Street’s earnings per share estimate of 46 cents for the quarter.
During the fourth quarter of the year, Momo Inc (ADR) reported net income of $97.28 million. This is an increase over its net income of $83.78 million from the fourth quarter of 2016.
Momo Inc (ADR)’s operating income for the fourth quarter of the year was $107.08 million. The software company reported operating income of $88.36 million during the same time last year.
Revenue of $386.36 million for the fourth quarter of 2017 was also good news for MOMO stock. This is better than its revenue of $246.12 million that was reported in the same quarter of the previous year. It also beats out analysts’ revenue estimate of $381.54 million for the period.
Momo Inc (ADR) only provided a preliminary outlook for the first quarter of 2018 in its most recent earnings report. The company says that it is expecting revenue for the quarter to range from $387.00 million to $402.00 million. Wall Street is looking for revenue of $350.85 million during the quarter.
MOMO stock was up 5% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
