Yalla Group Limited announced its unaudited financial results for the third quarter ended September 30, 2024, reporting revenues of US$88.9 million. This figure represents a 4.4% increase from US$85.2 million in the third quarter of 2023 and surpassed the upper end of the company's guidance.
Net income for the quarter rose by 11.2% year-over-year to US$39.2 million, compared to US$35.2 million in the prior year period, with the net margin reaching 44.1%. The company also reported a 14.5% increase in average monthly active users (MAUs) to 40.2 million and a 12% increase in paying users to 12.6 million.
The company's basic earnings per ordinary share were US$0.25, and diluted earnings per ordinary share were US$0.22 for the third quarter of 2024. Yalla also repurchased 1,736,383 American depositary shares for approximately US$7.0 million during the quarter, with US$107.5 million remaining under the program, which has an extended expiration date of May 21, 2025. For the fourth quarter of 2024, Yalla expects revenues to be between US$77.0 million and US$84.0 million.
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