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New product and geographic expansions are making the Middle Eastern social media company more diversified, but are also squeezing its margins
We once compared Yalla Group Ltd. (NYSE:YALA) to the likes of voice-based
Yalla In Transition As Gaming, Geographic Diversification Make Gains
Summary
- Yalla Group’s revenue grew 12.3% in the third quarter, as strong gains for its smaller gaming division offset slower growth for its older voice-based services.
- The company launched its first hard-core game during the quarter, and expanded its presence in Latin America as it moves beyond its Middle Eastern base.
- While the company’s monthly average user base rose 19.1% during the quarter to 30.9 million, its base of paying users rose by a much quicker 50.3% to 11.5 million.
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