Palm Beach, FL – August 5, 2020 – Consumer spending on mobile apps and app installs grew significantly during the first half of 2020, in part due to the COVID-19 pandemic, according to new data from Sensor Tower. In the first half of the year, consumers spent $50.1 billion worldwide across the App Store and Google Play — a figure that’s up 23.4% from the first half of 2019 according to a recent report. Previously, revenue had grown 20% between the first half of 2018 and 2019, for comparison. In addition, first-time app installs were up 26.1% year-over-year in the first half of 2020 to reach 71.5 billion downloads. Though Google Play saw far more app installs, Apple’s App Store continued to outpace its rival on consumer spending. During the first half of the year, the App Store generated $32.8 billion from in-app purchases, subscriptions and premium apps and games, Sensor Tower estimates. This figure is up 24.7% year-over-year from the $26.3 billion spent during the first half of 2019. It’s also nearly twice the estimated gross revenue on Google Play, which was $17.3 billion, an increase of 21% year-over-year. Active companies with recent developments include: Hello Pal International Inc. (CSE:HP) (OTCPK:HLLPF), Twitter, Inc. (NYSE: TWTR), Snap Inc. (NYSE: SNAP), Momo Inc. (NASDAQ: MOMO), HUYA Inc. (NYSE: HUYA).
Meanwhile, consumers stuck at home during the pandemic have been downloading apps and games in greater numbers. During the first half of the year, consumers installed 71.5 billion apps for the first time, up 26.1% from the first half of 2019. Mobile gaming also saw a boost during the pandemic, with game spending up 21.2% year-over-year to reach an estimated $36.6 billion during the first half of the year, Sensor Tower found. Spending on the App Store grew 22.7% year-over-year to reach $22.2 billion, while Google Play game spending grew 19% to reach $14.4 billion.
Hello Pal International Inc. (CSE:HP) (OTCPK:HLLPF) BREAKING NEWS: Hello Pal Announces Record Results in July 2020 – 30% growth from June to July – Hello Pal International Inc., a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it achieved record receipts in July 2020 as set forth below:
Livestreaming Service – Hello Pal’s livestreaming service achieved record receipts of approximately $1,425,000 in July 2020 for a three-month total of $3,689,250. Three consecutive monthly receipts of over $1,000,000 is a significant milestone as it results in Hello Pal’s Asian subsidiaries to be cash-flow positive.
“We’re very pleased to have achieved yet another significant milestone in our Company’s growth with a 30% increase in receipts from June to July” said KL Wong, Founder and Chairman of the Company.
User Base Performance – As of the date of the news release, Hello Pal’s registered user base is over 5.1 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service.
The livestreaming service continues to be active with over 10,000 active daily users interacting with one another. The Company continues to see the daily number of users making top-up payments increase every month. With a significant increase in user engagement on the Hello Pal platform, the company expects this to continue as new features are rolled-out.
“We are pleased our company is truly global, and will continue to rollout new products, features, to reach new markets. This provides users a social platform diversification that is less restrictive that others” said Hans Xu, Advisor of the Company. For more news on Hello Pal, please visit: http://www.hellopal.com/hello-pal-news/
Other earnings developments from around the markets include:
Momo Inc. (NASDAQ: MOMO), a leading mobile social networking platform in China , announced its unaudited financial results for the first quarter of 2020. First Quarter of 2020 Highlights:
- Net revenues decreased by 3.5% year over year to RMB3,594.1 million ( US$507.6 million *) in the first quarter of 2020.
- Net income attributable to Momo Inc. increased to RMB538.9 million ( US$76.1 million ) in the first quarter of 2020 from RMB289.3 million in the same period of 2019.
- Non-GAAP net income attributable to Momo Inc. (note 1) decreased to RMB736.3 million ( US$104.0 million ) in the first quarter of 2020, from RMB910.3 million in the same period of 2019.
- Diluted net income per American Depositary Share (“ADS”) was RMB2.46(US$0.35) in the first quarter of 2020, compared to RMB1.36 in the same period of 2019.
- Non-GAAP diluted net income per ADS (note 1) was RMB3.34 (US$0.47) in the first quarter of 2020, compared to RMB4.15 in the same period of 2019.
- Monthly Active Users (“MAU”) on Momo application were 108.0 million in March 2020, compared to 114.4 million in March 2019.
Twitter, Inc. (NYSE: TWTR) recently announced financial results for its second quarter 2020. “Our product work is paying off, with tremendous growth in audience and engagement. We grew mDAU to 186 million, a 34% year over year increase in Q2, the highest quarterly year-over-year growth rate we’ve delivered since we began reporting mDAU growth,” said Jack Dorsey , Twitter’s CEO. “I also want to address the security issue Twitter suffered last week. We moved quickly to address what happened, and have taken additional steps to improve resiliency against targeted social engineering attempts, implemented numerous safeguards to improve the security of our internal systems, and are working with law enforcement. We understand our responsibilities and are committed to earning the trust of all of our stakeholders with our every action, including how we address this security issue. We will continue to be transparent in sharing our learnings and remediations.”
“Revenue was $683 million in Q2, down 19% year over year, reflecting moderate recovery in advertising demand relative to the last three weeks of March. Despite the pandemic, brands have found innovative ways to join the conversation on Twitter to connect with their customers,” said Ned Segal , Twitter’s CFO. “We have completed our ad server rebuild and are making progress accelerating our performance ads roadmap. With a larger audience and progress in ads, we are even better positioned to deliver for advertisers when the live events and product launches that bring many people and advertisers to Twitter return to our lives.”
Snap Inc. (NYSE: SNAP) recently announced financial results for the quarter ended June 30, 2020. Financial Highlights:
- Operating cash flow improved by $29 million to $(67) million in Q2 2020, compared to the prior year.
- Free Cash Flow improved by $21 million to $(82) million in Q2 2020, compared to the prior year.
- Common shares outstanding plus shares underlying stock-based awards totaled 1,616 million at June 30, 2020, compared to 1,553 million one year ago.
- Revenue increased 17% to $454 million in Q2 2020, compared to the prior year.
- Net loss was $(326) million in Q2 2020, compared to $(255) million in the prior year.
- Adjusted EBITDA was $(96) million in Q2 2020, compared to $(79) million in the prior year.
“We continued to grow our community and business in a challenging and uncertain environment,” said Evan Spiegel, CEO. “I am proud of our team for innovating on new experiences for our community and driving value for our partners, demonstrating the importance of our service in people’s lives. We are grateful that the resilience of our business has allowed us to remain focused on our future growth and opportunity.”
HUYA Inc. (NYSE: HUYA), a leading game live streaming platform in China, recently announced that it will report its second quarter 2020 unaudited financial results on Tuesday, August 11, 2020, before the open of U.S. markets. The Company’s management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on August 11, 2020 (7:00 p.m. Beijing/Hong Kong time on August 11, 2020).
For participants who wish to join the call, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, Direct Event passcode, a unique registrant ID and an e-mail with detailed instructions to join the conference call.
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