Yahoo Finance Today’s Research Reports on Stocks to Watch: Momo and Bilibili
NEW YORK, NY / ACCESSWIRE / June 11, 2018 / Chinese players Momo Inc. as well as Bilibili Inc. both hit new highs on Friday despite any news. Both companies released quarterly results recently that had investors cheering.
RDI Initiates Coverage on:
Momo Inc.
https://rdinvesting.com/news/?ticker=MOMO
Bilibili Inc.
https://rdinvesting.com/news/?ticker=BILI
Momo Inc. shares closed up 5.35% on Friday with almost 7 million shares traded. The Chinese mobile-based social and entertainment company saw its shares hit a new high of $52.80. The stock has climbed from around $35 a share in May to over $50 a share on Friday. There was no particular news from the company last week but it was in May that Momo reported impressive first quarter results. Revenue saw a growth of 64% YOY and hit $435.1 million. Analysts had been expecting $396.3 million. Adjusted net income was 69 cents per American depositary share, versus the 50 cents that was expected. Chairman and CEO Yan Tang said the quarter was a "great start" to 2018, and that Momo had seen "outstanding" progress on the strategic priorities outlined last quarter. He remarked, "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." It was last month that Momo also closed on the acquisition of dating app Tantan.
Access RDI’s Momo Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MOMO
Bilibili Inc. shares closed up 16.83% on about 10.5 million shares traded last Friday. The stock hit a new high of $19.35 despite any particular news from the Chinese online entertainment company. It was not too long ago that Bilibili released first-quarter earnings report that revealed a doubling of sales. The company reported revenue of $138.4 million for the first quarter. This was a growth of 105% from the year ago quarter. An adjusted net loss at $501,000, was better than the loss of $9.3 million in the year-ago period. "We have seen a substantial increase in the number of paying users, demonstrating our strong momentum driven by the implementation of our monetization strategies," said CEO Rui Chen. He added, "As the hub for China's distinct and thriving Generation Z culture, we believe we are uniquely positioned to capture the future of online entertainment market in China." It was earlier this year that the stock made its debut in the market.
Access RDI's Bilibili Inc. Research Report at:
https://rdinvesting.com/news/?ticker=BILI
Our Actionable Research on Momo Inc. (NASDAQ: MOMO) and Bilibili Inc. (NASDAQ: BILI) can be downloaded free of charge at Research Driven Investing.
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