Yalla’s Q3 Net Income Climbs by 44.3% to $35.2 million, Monthly Active Users Surge to 35.1 Million
Yalla recently reported a significant increase in its Q3 net income, which jumped by 44.3% to Dh129.2 million ($35.2 million) compared to the same period in 2022. The company also saw a surge in its average monthly active users (MAUs) by 13.6% to 35.1 million, compared to 30.9 million in Q3 2022.
Despite the increase in MAUs, the number of paying users on the Yalla platform decreased by 2.6% to 11.2 million in Q3 2023 from 11.5 million in Q3 2022. Yalla attributed this decrease to a short-term game mechanism adjustment.
Yang Tao, Founder, Chairman, and CEO of Yalla, expressed his satisfaction with the company’s performance, stating that they recorded all-time high revenues of $85.2 million in Q3 2023. Tao also highlighted the success of the company’s gaming services, which experienced over 30% year-over-year revenue growth.
Tao emphasized the company’s commitment to continually improving its processes and enhancing the gamification of its flagship applications. He also mentioned that Yalla has made improvements in its gaming mechanics and user acquisition strategies.
Saifi Ismail, Group President at Yalla Group, discussed the company’s future plans, stating that they will focus on executing a high-quality growth strategy with an emphasis on efficiency and profitability enhancement in the fourth quarter. Ismail also reiterated Yalla Group’s commitment to investing in people, technology, and new market opportunities.
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