Yalla Group Ltd. Sponsored ADR Class A(YALA.US) Q2 revenue exceeds expectations, net profit increases by 11% year on year.

Yalla Group Ltd. Sponsored ADR Class A (YALA.US) announced its financial performance for the second quarter. The data shows that Q2 revenue increased by 2.5% year-on-year to $81.2 million, compared to market expectations of $79 million. Non-GAAP diluted earnings per share were $0.19, unchanged from the previous year. Net profit was $31.4 million, an increase of 10.9% year-on-year. By business segment, chat service revenue was $54.9 million, and gaming service revenue was $26.2 million. Non-GAAP net profit was $35.2 million, an increase of 4.4% year-on-year. Average Monthly Active Users (MAU) were 39 million, a 14.1% increase year-on-year. The number of paying users was 12 million, a decrease of 10.3% year-on-year. For the third quarter of 2024, Yalla Group Ltd. Sponsored ADR Class A currently expects revenue to be between $75 million and $82 million. Following the announcement, as of the time of writing, the stock price of Yalla Group Ltd. Sponsored ADR Class A rose 2.33% after hours, reaching $3.95.