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YY up 2.6% as rapid live streaming growth drives earnings beat

Aug. 10, 2017 9:17 AM ETJOYY Inc. (YY) StockBy: Jason Aycock, SA News Editor2 Comments
  • NASDAQ:YY is up 2.6% premarket on Q2 results where its core live streaming drove revenues up nearly 32%.
  • Adjusted net income rose 55%, to 597.2M yuan (about $88.1M).
  • Net margin rose to 22.9% from a year-ago 19.4% due to increasing operating leverage and product cost and expense controls.
  • Live streaming monthly active users were up 27% to more than 66.1M, and live streaming paying users rose 46.1% to more than 5.7M.
  • Revenue by segment: Live streaming, 2.373B yuan ($350.1M, up 42.9% in renminbi terms); Online games, 154M yuan ($22.7M, down 18.2%); Membership, 52.2M yuan ($7.7M, down 27.6%); others, 29.4M yuan ($4.3M, down 50.4%).
  • Cash and equivalents came to 1.349B yuan (about $199M), along with short-term deposits of 1.89B yuan ($278.8M) and restricted short-term deposits of 1B yuan ($147.5M). Net cash from operations for the quarter was 885.6M yuan ($130.6M).
  • For Q3, it's guiding to revenue growth of 31.6%-36.4% -- to between 2.75B yuan and 2.85B yuan ($413.3M-$428.3M).
  • Press Release

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