17Live - Phillip Securities 2025-03-04: Another Year Of Consolidation For Core Live Streaming

• 17LIVE (SGX:LVR)'s Operating revenue for FY24 missed our forecast by 9% and fell 33% y-o-y to US$190.8mil due to decreasing monthly active users (MAU). Revenue from the V-Liver segment more than doubled to US$11mil; though the core live streaming business continues to see pressure on the MAU front. 17LIVE saw other operating metrics remain stable, such as the paying ratio and ARPPU, given the various initiatives to improve the retention ratio.
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• Operating margin for 2H24 improved significantly to 8.5% (+7.2ppt h-o-h) on the back of the successful cost optimization strategies and shifting marketing expense.
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The Positives

Spike up in V-liver revenue.

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Previous report by Phillip:
2024-08-19 17Live Group - Bottom Line Turned Black.

Price targets by other brokers at 17LIVE Target Prices.

Listing of research reports at 17LIVE Analyst Reports.

Relevant links:
17LIVE Share Price History,
17LIVE Announcements,
17LIVE Dividend Payout Dates & Corporate Actions,
17LIVE News