Yalla Group Limited Announces Unaudited Third Quarter 2024 Financial Results
Yalla Group Limited American Depositary Shares, each representing one Class A Ordinary Share (YALA)
Company Research
Source: PR Newswire
DUBAI, UAE, Nov. 11, 2024 /PRNewswire/ -- Yalla Group Limited ("Yalla" or the "Company") (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the third quarter ended September 30, 2024.Third Quarter 2024 Financial and Operating HighlightsRevenues were US$88.9 million in the third quarter of 2024, representing an increase of 4.4% from the third quarter of 2023.Revenues generated from chatting services in the third quarter of 2024 were US$58.5 million.Revenues generated from games services in the third quarter of 2024 were US$30.2 million.Net income was US$39.2 million in the third quarter of 2024, an 11.2% increase from US$35.2 million in the third quarter of 2023. Net margin[1] was 44.1% in the third quarter of 2024.Non-GAAP net income[2] was US$42.6 million in the third quarter of 2024, an 11.3% increase from US$38.3 million in the third quarter of 2023. Non-GAAP net margin
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