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Today’s Research Reports on Stocks to Watch: Momo and Facebook

NEW YORK, NY / ACCESSWIRE / May 30, 2018 / Shares of Chinese dating app company Momo Inc. soared in Tuesday trading after reporting solid first quarter results that beat on both the top and bottom line. Facebook also saw a slight gain although reports revealed that Papua New Guinea would be banning the site for one month.

RDI Initiates Coverage on:

Momo Inc.
https://www.rdinvesting.com/report/?ticker=MOMO

Facebook, Inc.
https://www.rdinvesting.com/report/?ticker=FB

Momo Inc. shares were gaining in Tuesday trading as the markets re-opened after Memorial Day. The stock broke out and closed with a gain of over 15% on colossal volume compared to usual. Momo traded a little over 27 million shares yesterday in comparison to an average trading volume of about 4.2 million shares. So why the gains for the Chinese internet media company? Momo reported better than expected quarterly results. The company reported revenue of $435.1 million for the first quarter. An increase of 64% YOY and higher than the $396.3 million that analysts had been expecting. Adjusted net income of $142.3 million, or 69 cents, was also higher than the 50 cents that analysts were calling for. It was also a lot higher than the 44 cents reported in the year ago quarter. Company estimates revenue range of $470 to $485 million for 2nd quarter, much higher than the $429 million estimate by the street. CEO Yan Tang commented that the quarter was a "great start" to 2018. He also said, "Our community continued to grow in size and engagements despite the negative seasonality, thanks to the product and marketing initiatives we have been taking in recent quarters. The content ecosystem continues to improve, driving robust organic growth momentum for live streaming business." The company also revealed that it had closed on its previously announced acquisition of dating app Tantan this month.

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Access RDI's Momo Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=MOMO

Facebook, Inc. shares closed up a modest 0.44% as the market reopened on Tuesday. It was revealed that the king of social media is facing a ban in Papua New Guinea. The government of Papua New Guinea is turning off access to the social media platform for a month in order to crack down on fake users and study the impact of Facebook on its population. Communication minister Sam Basil said that users posting pornography and false information would be identified. Talking to the country's Post Courier, he said, "The time will allow information to be collected to identify users that hide behind fake accounts, users that upload pornographic images, users that post false and misleading information. We can also look at the possibility of creating a new social network site for PNG citizens to use with genuine profiles as well. If need be then we can gather our local applications developers to create a site that is more conducive for Papua New Guineans to communicate within the country and abroad as well."

Access RDI's Facebook, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=FB

Our Actionable Research on Momo Inc. (NASDAQ: MOMO) and Facebook, Inc. (NASDAQ: FB) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com