YY gains after revenues grow 28% in Q4

|About: YY Inc. (YY)|By:, SA News Editor

YY is up 1.3% postmarket after it topped expectations with its Q4 report featuring near-30% revenue growth and double-digit user gains.

Adjusted net income beat expectations but declined to 836.2M yuan (about $121.6M) from a prior-year 932.1M yuan.

Gross profit was up 13.8% to 1.63B yuan (about $236.8M). Gross margin fell to 35.1% from 39.4% mainly due to increased revenue-sharing fees and content costs.

Mobile live streaming monthly active users rose 18.1%, to 90.4M. Paying live streaming users increased 36.6% to 8.9M.

Revenue breakout: Live streaming, 4.39B yuan (up 30.4%); Others, 249.5M yuan (down 3.3%).

Cash and equivalents were 6B yuan (about $873.3M), with short-term deposts at 7.33B yuan ($1.07B). Net cash from operations was 2.12B yuan (308.9M).

For Q1, it's guiding to net revenues of 4.01B-4.16B yuan (growth of 23.4%-28%) without giving effect to the acquisition of Bigo.

Conference call to come at 9 p.m. ET.

Previously: YY beats by $0.10, beats on revenue (Mar. 04 2019)

Press release

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