Momo (MOMO) Beats Earnings Estimates but Faces Headwinds

Momo Inc. (MOMO) exceeded analysts’ expectations for both earnings and revenue in the second quarter of 2024. However, the company’s stock performance remains under pressure due to unfavorable earnings estimate revisions and a Zacks Rank #4 (Sell). Despite the positive earnings surprise, Momo faces challenges in a competitive market, leading to concerns about future growth prospects.

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