Chinese internet company Momo has overtaken such big names as Netflix and Amazon.Com to win first place on the ranking Fortune magazine released today of the world’s top three-year performers.
The list measures revenue, profits and stock returns to provide a snapshot of the trends driving the global economy.
Social media platform Momo’s earnings per share have risen almost threefold in the last three years, and its operating income has gone up nearly one and a half times for a 53 percent return on shares that is far in excess of the average level, statistics show. US-based Texas Pacific Land Trust and Micron Technology took the silver and bronze, respectively, to round out the top three on the list.
The technology sector squeezed the most companies into the list for the second year in a row, matching last year’s 32 . No ‘one size fits all’ approach applies, however, when it comes to warp-speed growth, and not every streaking meteor is a product of the internet era. The average age of the companies on this year’s roll is 38, but they have all been market winners with an average annual return of 29 percent over the past three years, versus 14 percent for the S&P 500.
Other mainland Chinese firms that made the cut this year in addition to Beijing-based Momo [NASDAQ:MOMO] are Weibo [NASDAQ:WB] (13), Shanghai Baozun E-Commerce [NASDAQ:BZUN] (42), YY (48), Autohome [NYSE:ATHM] (50) and Sina [NASDAQ:SINA] (85).
All these companies’ shares registered modest gains in stateside trading yesterday.