Yalla Group Limited, which is based in the United Arab Emirates and owns the largest social networking and gaming platform in the Middle East and North Africa, continued its focus on supporting its growth process, as the company’s revenues for 2023 exceeded the billion dirhams barrier to reach 1.17 billion dirhams (318.8 million). dollars) compared to 1.1 billion dirhams in 2022.
Revenues for the fourth quarter of last year also grew by 7.7% to reach 297.1 million dirhams ($80.9 million), compared to 275.9 million dirhams in the same period in 2022, which reflects the strength of the group’s financial performance and its ability to achieve record profits as a result of continued momentum. In her works.
Yalla also recorded a net profit margin rate of 36.6%, while the net profit margin rate not conforming to generally accepted accounting principles reached 41.3% during the last quarter of the past fiscal year, which reflects its strong ability to generate income and control expenses.
The financial statements revealed that the company’s net profits increased in the last quarter of last year to about 109 million dirhams ($29.7 million), achieving an unprecedented growth rate of 79% compared to the same period in 2022, when the company then achieved net profits amounting to 60.9 million dirhams.
Yalla revealed a significant growth in the average number of monthly active users by 13.3% to 36.2 million in the last quarter of last year, compared to 32 million during the fourth quarter of 2022.
While the number of subscribers to paid services decreased by 4.2% from 12.5 million users in the same period of 2022 to 11.9 million users in the last quarter of 2023.
The company attributes this decrease to the changes that occurred in games in the short term, stressing its commitment and keenness to improve user interaction and implement effective strategies to generate revenue in the future.
ظهرت في الأصل على www.alkhaleej.ae