Momo stock was on the rise Tuesday following the release of its earnings report for the fourth quarter of 2018.
Momo (NASDAQ:MOMO) reported earnings per share of 59 cents for the fourth quarter of the year. This is an increase over the company’s earnings per share of 53 cents from the same time last year. It was also good news for MOMO stock by beating out Wall Street’s earnings per share estimate of 52 cents for the quarter.
Net income reported by Momo during its earnings report for the fourth quarter of 2018 comes in at $94.02 million. This is a slight increase over the company’s net income from the fourth quarter of 2017.
The Momo earnings report for the fourth quarter of the year also includes operating income of $114.84 million. This represents a roughly 12% increase over the company’s operating income in the same period of the year prior.
Revenue reported by Momo for the fourth quarter of 2018 was $559.07 million. This is up from the company’s revenue of $386.40 million reported in the fourth quarter of the previous year. It was also a boon to MOMO stock by coming in above analysts’ revenue estimate of $532.82 million for the period.
Momo also provides its outlook for the first quarter of 2019 in its most recent earnings report. It is expecting revenue for the quarter to range from RMB3.55 billion to RMB3.65 billion. The company says that it isn’t providing its outlook in USD terms due to recent volatility and uncertainty in foreign exchange rates.
MOMO stock was up 11% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.