التكنولوجيا وأخبارها بوابة مصر لأخبار تكنولوجيا المعلومات والإتصالات وفي أفريقيا كما تعتبر مصدر رئيسي للمعلومات حول تكنولوجيا المعلومات والاتصالات والفرص الاستثمارية المرتبطة بالاقتصاد الرقمي في المنطقة بالكامل
Yalla Group Limited (NYSE: YALA), the largest social networking and gaming company in the Middle East and North Africa (MENA), has announced impressive third-quarter financial results for 2024, ending September 30. The group reported a 4.4% year-on-year increase in revenue, reaching AED 326.5 million (USD 88.9 million), up from AED 312.9 million (USD 85.2 million) in the same period last year. Net income also rose significantly by 11.2% to AED 144.0 million (USD 39.2 million), with the company maintaining a strong net margin of 44.1%.
Nine-Month Revenue Growth
Yalla’s revenue over the first nine months of 2024 totaled AED 913.8 million (USD 248.8 million), marking a 4.6% increase compared to AED 873.9 million (USD 237.9 million) in the same period of 2023. This steady growth underscores the company’s consistent performance and effective expansion strategies.
Strong User Engagement and Growth
The third quarter saw Yalla’s monthly active users (MAUs) increase by 14.5%, reaching 40.2 million, up from 35.2 million in Q3 of the previous year. Paying users on the platform also grew by 12.0% to 12.6 million, highlighting the rising engagement and user loyalty driven by Yalla’s innovative offerings.
CEO Comments on Record Performance
Yang Tao, Yalla’s Founder, Chairman, and CEO, expressed excitement over the record-breaking quarter, stating: “We’re delighted to deliver exceptional results with record-high revenue and increased profitability. This success is the result of our focus on localizing content and continuously enhancing our platforms to meet MENA users’ social and entertainment needs.”
Tao added, “With MENA’s ongoing digital transformation, we see vast growth potential. As the region’s leading social networking and gaming platform, we are committed to contributing to this digital evolution, leveraging our robust product ecosystem to foster sustainable growth.”
Product Performance and Future Plans
Saifi Ismail, President of Yalla Group, noted that the third quarter’s performance reflected the group’s user acquisition strategies and product enhancements. “We’re proud of the record revenue generated by Yalla Ludo and 101 Okey Yalla, and we’re eager to expand this success across our product lineup,” Ismail commented.
Looking ahead, Yalla aims to deepen its presence across MENA, strengthen user relationships, and expand digital engagement. “As the leading social networking and gaming platform in MENA, we are dedicated to delivering meaningful experiences and creating long-term value for our users and partners,” Ismail concluded.
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