YY Q2 Earnings Miss Estimates, Live Streaming Revenues Solid
Zacks Investment Research | Aug 13, 2019 09:22PM ET
YY Inc. (NASDAQ:YY) delivered second-quarter 2019 non-GAAP earnings of 75 cents per American depositary shares (ADS), which missed the Zacks Consensus Estimate of 92 cents and declined significantly from the year-ago reported figure of $2.03.
Revenues totaled $917 million, surpassing the Zacks Consensus Estimate of $881.45 million.
In domestic currency, non-GAAP earnings per ADS declined 62.6% to RMB5.4 while revenues of RMB 6.3 billion rose 66.8%.
Top-Line Details
The top-line growth can primarily be attributed to strong live streaming revenues, which increased 66.4% year over year to RMB5.92 billion, accounting for 94.1% of total net revenues in the reported quarter.
Notably, other revenues increased 74.4% to RMB372.5.5 million, primarily driven by robust growth in advertising revenues from HUYA and BIGO.
YY Inc. Price, Consensus and EPS Surprise
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