Momo Inc. (MOMO.US) reported a 12.2% YoY decrease in Q4 net revenue, with its paying user base declining to 5.7 million.

JOYY Inc. (JOYY.US) released its 2024 fourth-quarter and full-year financial results. The report showed that the net revenue of JOYY was RMB2.6365 billion in Q4, down 12.2% YoY, and the net profit attributable to the Company was RMB187.2 million, down from RMB452.5 million in the same period last year, and the diluted EPS was RMB1.05, down from RMB2.32 in the same period last year.

The non-GAAP net profit attributable to the Company was RMB230.5 million; the diluted EPS was RMB1.30.

In December 2024, the monthly active users of the Inmyshow application were 10.8 million, down from 13.7 million in the same period last year, and the number of paid users in Q4 was 900,000, down from 1.2 million in the same period last year.

The total number of paid users of the Momo application in Q4 was 5.7 million, down from 7.4 million in the same period last year.

On the full-year performance, the net revenue was RMB10.5630 billion, down 12.0% YoY, and the net profit attributable to the Company was RMB1.0396 billion, down from RMB1.9576 billion in the same period last year, and the diluted EPS was RMB5.57, down from RMB9.84 in the same period last year.

Looking ahead, the Company expects the total net revenue in the first quarter of 2025 to be between RMB2.4 billion and RMB2.5 billion, down 6.3% to 2.4% YoY.