248 million dirhams, Yalla’s revenues during the first quarter – Local Economy

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The UAE-based Yalla Group Ltd., listed on the New York Stock Exchange, announced its preliminary unaudited financial results for the first quarter of this year, achieving revenues of 248 million dirhams, an increase of 221%, compared to the same quarter of last year. .

According to the financial statements announced by Yalla, the owner of the largest audio platform for digital entertainment and social networking in the Middle East and North Africa, the Group’s non-conforming accounting principles total net profit amounted to 123.3 million dirhams, during the first quarter ending on March 31, last The net profit margin ratio that does not conform to generally accepted accounting principles reached 49.7% during the first quarter of the fiscal year 2021.

The group stated in a statement yesterday that its chat services contributed to achieving the largest part of the revenues, with a total of 201.1 million dirhams, while gaming services contributed to the achievement of 47.3 million dirhams of the total revenues of the company. She indicated that the average number of active monthly users increased by 206.9% to 18.8 million in the first quarter of this year, compared to 6.1 million users in the first quarter of 2020.

Regarding the number of users subscribing to the paid services of the “Yalla” platforms, the total number of subscribers to the paid services increased by 260.4% to 5.8 million users during the first quarter of this year, compared to 1.6 million users in the first quarter of last year.

“The first three months of this year were par excellence,” said Tao Yang, Chairman of the Yalla Group. “We achieved strong financial results with our total revenues rising to 248 million dirhams, exceeding the upper limit of our expectations by 7.4% for the same period. This distinguished performance is attributed to our continuous efforts to expand our user base and encourage them to subscribe to paid services, through our launch of marketing campaigns that have contributed to enhancing public awareness of our services and platforms in the MENA region. ”

• 123.3 million dirhams, the net profit of the “group” that does not conform to the accounting principles.

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