Hello Group Inc. (NASDAQ:MOMO) Q2 2024 Earnings Call Transcript September 3, 2024 8:00 AM ET

Company Participants

Ashley Jing - IR
Zhang Sichuan - COO
Peng Hui - CFO
Tang Yan - CEO

Conference Call Participants

Xueqing Zhang - CICC
Thomas Chong - Jefferies

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Second Quarter 2024 Hello Group Incorporated Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation, followed by a question-and-answer session. [Operator Instructions] Please note, this conference is being recorded today. I would now like to hand the conference over to your first speaker today, Ms. Ashley Jing. Thank you. Please go ahead, ma'am.

Ashley Jing

Thank you, operator. Good morning and good evening, everyone. Thank you for joining us today for Hello Group's second quarter 2024 earnings conference call. The company's results were released earlier today and are available on the company's IR website. On the call today, we have Mr. Tang Yan, CEO of the company; Ms. Zhang Sichuan, COO of the company; and Ms. Peng Hui, CFO of the company. They will discuss the company's business operations and highlights, as well as the financials and guidance. They will all be available to answer your questions during the Q&A session that follows.

Before we begin, I would like to remind you that this call may contain forward-looking statements made under the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current market and operating conditions and relate to events that involve known and unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the company's control, which may cause the company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding this and other risks, uncertainties, and factors is included in the company's filings with the US Securities and Exchange Commission. The company does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under law.

I will now pass the call over to our COO, Ms. Zhang Sichuan. Ms. Zhang, please?

Zhang Sichuan

Hello, everyone. Thank you for joining our call. I will now walk you through the progress we make in the second quarter against our strategic priorities across all businesses. I will start with a over -- a brief overview of our financial performance. For the second quarter of 2024, total group revenue was RMB2.69 billion, down 14% year-over-year, but up 5% sequentially. Adjusted operating income was RMB477 million, down 33% year-over-year and 7% sequentially. Profit margin was 17.7%, down 4.9 percentage points year-over-year and 2.4 percentage points sequentially.