Zhihu Group (MOMO, Financial) has released its financial results for the third quarter of 2024. The company reported net revenue of 2.6747 billion yuan (approximately $381.1 million), marking a 12.1% year-over-year decrease but surpassing market expectations. Non-GAAP net profit attributable to Zhihu Group was 493.3 million yuan (about $70.3 million), with diluted net profit per American Depositary Share (ADS) at 2.70 yuan ($0.38), exceeding forecasts.
In September 2024, the Tantan app had 12 million monthly active users, down from 15.7 million in September 2023. Tantan's paying users for Q3 were 900,000, compared to 1.4 million a year ago. The Momo app had 6.9 million paying users, down from 7.8 million in the previous year.
For Q4 2024, the company anticipates total net revenue between 2.56 billion and 2.66 billion yuan, reflecting a year-over-year decline of 14.7% to 11.4%.
