MOMO: Reactivation of Apps Drive Higher User Growth In Both MOMO and Tantan and Better 3Q19 Performance; Maintain Buy Rating & Raise PT
MOMO will report 3Q19 results on November 26th before the markets open with an 8am EST conference call. We are positive on MOMO’s performance in 3Q19 driven by the user growth of MOMO and better performance of Tantan as a result of the reactivation of MOMO and Tantan after both APPs were suspended by the Chinese government in May and June. After the removal of the suspensions, MOMO hosted many events in July and August; these events are positive for the growth of both MAU and paying users.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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