Ashley Jing | Head, IR |
Wang Li | CEO |
Peng Hui | CFO |
Thomas Chong | Jefferies |
Henry Wibowo | JPMorgan |
Leo Chiang | Deutsche Bank |
Ladies and gentlemen, thank you for standing by, and welcome to Second Quarter 2022 Hello Group Inc. Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded today. I would now like to hand the conference over to your first speaker today, Ms.
Ashley Jing. you. Thank ma'am. ahead, go Please
released you, operator. you Second evening, Thank results and XXXX the available company's IR Good joining us morning, website. were company's for The Group's Conference good and today are Earnings on everyone. Call. Thank earlier for Quarter Hello
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Thank joining conference call Thanks, everyone. Wang for you and our Ashley. Hello, today.
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please? Ashley,
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from [Operator Instructions] from question comes first Our Chong Thomas Jefferies.
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these Let behind X different very X they have -- have by dynamics them. X think me lines I take they different because
Momo's been has down better obviously, thought expect it basis from sequential in we see been business, have can guidance. August tracking for tick on live reflected quarter would like we now QX. live thought business reasons uncertainties X QX a months and this what For that live our upward we June that the streaming But looks a on ago, that and than of Momo the some QX point, Originally, what optimistic for at it's say the streaming and have period about stability the of of But we're we the to still for front, the cautiously we've live remain rest year. early I to regulatory macro exited on streaming. streaming. too seeing would call an based
live for So that's streaming.
on added service already ex-Tantan because earlier. Tantan value basis explained For an we've
good higher growth are to means the growth, also means applications the ex-Tantan, actually so which new by That spend applications mean profit trying for also that quality of we the if we I enough. channels growth VAS margins. quality new may costs that ROI higher with certain For cut marketing marketing can higher optimize down isn't -- achieve
well. on and COVID Previously, addition, social lingering regions expect grow that the which zero on as communicated it limit investors the basis, an with basis. pace the application I different VAS outbreaks on geo continue to we continuing could growth digits double for to the sentiment, think we a the on value-added In of ex-Tantan weigh policy in services main year-over-year
say back being to to new growth that value-added target being the percentage one applications we one due be Now to the would cost lingering into points healthy for allow continue of a But pretty QX, slow maybe of couple single-digit double-digit optimization marketing COVID year. that to I the half the aforementioned Momo would range. growth engine of service high overall, the the previous factors, for and a other for
Momo value and for streaming separately live that's added service. So
question of operator? I think call next for just we question, in a take the X more Ready interest maybe time, day. the let's before it
Leo from next Chiang comes from question Deutsche Bank. The
margin OP cost regarding is we in Momo's to gross the initiative. control core What core question trend second My half. margin expect ongoing margin, should Language] and Momo for [Foreign the given
is at guess, through go Momo. and if just Yes. maybe with there the I'll company what color I cost expenses on core reviewing the level more some do is Momo
gross you guys of first to today, maintain margin -- numbers wise, put a see margin for the half the as earlier out we able non-GAAP been we've that the trend the line. I gross can think stable pretty margin year during in gross
QX of that like could But looks ramping do could the QX starts stable a system as optimizing supply should solid. every the Tantan's business for marketing, items, year-end service and -- core it it events. non-subscription dip half With including for be trends don't revenue a continue decrease as relatively content the visibility expenses, Momo little [indiscernible] subscription from bit think one-off the Now line we've up. from year but promotional will end year key see doing QX should to sacrificing we is what to revenue opportunities down generate into sort much remains I higher where be and been savings due plans of ROI pretty have in I the regards QX, full for level first calling and of out into rather personnel all second do the half margin in we'll saving QX. operating some biggest the efficiency to the the gross I QX in next worth operating will Tantan cut tough in cutting play low yields. the continue the low And we OpEx as expenses on so and that cutting the the gradually and look part that come out defensive and doesn't as a to marketing year. here from other cost guess, cost to we're a necessarily as we really -- reallocating infrastructures, marketing in second are future we down a macro mean half is channels. growth could marketing thing here dollars environment,
plans. be by other absorbed cutting substantially satisfactory if example, keep will such new to increased be on spend in application. and spending for other this down by QX, marketing -- But less we'll spending quite For fast-growing continues efficient marketing retention we Tietie cost cutting
will marketing decrease the the still significant in year. of overall So back half see pretty
north half the due sum be million we of non-GAAP very on shrink this to of than I the the for track answers at is for of ex-Tantan the to question. sort RMB And operating the expect your point, to for an half net focus but less line about on basis, So year. Tantan deliver to the on prescriptive bottom margin although XXX second to profits, Hopefully, think that to XX%. loss up, it's impossible still XXXX growth with a second of year, down
Okay.
session. Thank will this for us today, next think operator. Ready end of you, to Thank is be the you and to joining quarter. Q&A you going I close. the see we
This concludes you our for conference for participating. Thank today.
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