YY Beats On Q1 Earnings & Revenues, Mobile Drives Y/Y Growth
Zacks Investment Research | Jun 06, 2018 10:50PM ET
YY Inc. (NASDAQ:YY) delivered first-quarter 2018 earnings of $1.72 per American depositary shares (ADS), which handily beat the Zacks Consensus Estimate of $1.56.
Revenues of $518 million also comfortably surpassed the Zacks Consensus Estimate of $491 million.
In May 2018, YY’s subsidiary HUYA Inc. completed Initial Public Offering (IPO) of 17,250,000 ADS at a price of $12.00 per ADS.
Top-line Details
Net revenues surged 43.3% year over year to RMB3,248.9 million. Strong growth can primarily be attributed to strong live streaming revenues, which jumped 47.4% year over year to RMB3,032 million ($483.4 million). Mobile contributed 57% of YY’s live streaming revenues.
YY has re-classified its revenues from online games, memberships, and other to a new category “other revenues” beginning first-quarter 2018. Other revenues increased 3.5% to RMB216.9 million ($34.6 million).
YY Inc. Price, Consensus and EPS Surprise
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