Yalla Group earnings jump 43% y-o-y for 2023

Yalla Group posted USD 113.1 mn in net income in 2023, up 43% y-o-y, the company said in an earnings release. Revenues rose 5% y-o-y to USD 318.9 mn, on the back of chatting services, which raked in USD 211.8 mn, as well as gaming services revenues which contributed USD 106.7 mn. In 4Q 2023, the social networking and gaming company’s bottom line came in at USD 29.7 mn, marking a 79% y-o-y increase, on revenues of USD 80.9 mn, up 7.7% y-oy.

Looking ahead: Yalla expects 1Q 2024 revenues to range from USD 72 mn to USD 79 mn.