Dubai, UAE – The revenues of Yalla Group Limited reached AED561 million ($152.8m) during the first half of 2023.
The revenue grew by 2.9 percent compared to the first half of last year, while the net income in H1 2023 was recorded at AED176.9 million ($48.2 million), showing an increase of 26.6 percent vis a vis H1 2022.
Yalla displayed strong performance in the second quarter of the year, posting revenues of AED291 million (around $79.2 million), marking a 4.1 percent rise from Q2 2022.
Also, its net income for Q2 2023 stood at AED103.8 million ($28.3 million), which was AED74.7 million ($20.4 million) during the same quarter last year.
Yang Tao, Founder, Chairman and Chief Executive Officer of Yalla, said, “We are witnessing a rapid digital transformation in the Middle East. The momentum we are seeing is arising from the recognition that the region’s market opportunity may be strategically significant for global internet giants, as well as robust support from local MENA government, who are determined to build local industries.”
Saifi Ismail, President of Yalla Group, said, “We are pleased to deliver robust Q2 results. With a 14.3 percent year-over-year increase in monthly active users, reaching 34.2 million, and a 26.6 percent YoY rise in paying users to 13.4 million, our team’s dedication to refining operational strategies is evident.” We’re committed to enhancing our user experience and upholding Yalla Group’s position as a leader in the technology sector.”
