Yalla Group’s game revenue increased by 35.2% year-on-year in the fourth quarter of 2023

DoNews March 12 news, according to IPO early news, Yalla Group (NYSE: YALA) released its unaudited financial report for the fourth quarter and full year ended December 31, 2023 on March 12, 2024. .

The financial report shows that in the fourth quarter of 2023, Yalla Group achieved operating income of US$80.925 million, including: social service revenue of US$52.180 million; gaming service revenue of US$28.491 million, a year-on-year increase of 35.2%.

In terms of profit, Yalla Group achieved a net profit of US$29.652 million in the fourth quarter, a year-on-year increase of 79.0%, and a net profit margin of 36.6%.

In 2023 full-year results, Yalla Group achieved operating income of US$318.9 million, including: social service revenue of US$211.8 million; game service revenue of US$106.7 million, an increase of 20.5% compared with 2022.

In terms of profit, Yalla Group achieved a net profit of US$113.1 million in 2023, a year-on-year increase of 43.0%, and a net profit margin of 35.5%.

Yalla Group founder, chairman and CEO Yang Tao said that the company’s revenue in the fourth quarter of 2023 was US$80.925 million, exceeding the upper limit of the expected guidance range. Among them, game service revenue increased by 35.2% year-on-year.

In terms of operational data, Yalla Group has continued to improve the game mechanism in order to enhance user stickiness and improve user experience, and has achieved good results. In the fourth quarter, Yalla Group’s average number of monthly active users was 36.237 million, a year-on-year increase of 13.3%; the number of paid users was 11.930 million, a month-on-month increase of 6.2%. This shows the increasing willingness of users on the platform to pay.

Hu Yang, chief financial officer of Yalla Group, said: The company achieved strong performance in 2023, with annual operating income increasing to US$318.9 million.

Regarding subsequent performance expectations, Yalla Group expects revenue in the first quarter of 2024 to be between US$72 million and US$79 million.

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