YY Inc Quarter Numbers 1st Quarter 2018 ---- Social media live streaming platform China

mikega (43)in #money • 6 years ago (edited)

YY inc just posted there 1st quarter numbers for 2018 and they were stellar....

Net revenues increased by 43.3% to RMB3,248.9 million (US$518.0 million) from RMB2,267.0 million in the corresponding
period of 2017.
Net income attributable to YY was RMB444.1 million (US$70.8 million) compared to RMB543.2 million in the corresponding
period of 2017.
Non-GAAP net income attributable to YY1 increased by 31.1% to RMB699.9 million (US$111.6 million) from RMB533.9 million in
the corresponding period of 2017.
“We are delighted to start 2018 with robust growth in the first quarter,” stated Mr. David Xueling Li, Chairman and acting Chief Executive Officer of YY. “Our mobile
live streaming monthly active users (MAU) increased by 23.9% year over year to 77.6 million, and our total live streaming paying users increased by 17.3% year
over year to 6.9 million.

YY inc also announced that they invested US$272 million in the series D preferred
shares of Bigo Inc, a fast-growing global video-based social media platform...which will further stir the stellar earnings in the quarters nearby...

https://www.bigo.tv/

YY has also obtained a right, exercisable after the first anniversary of the closing date, to purchase additional Bigo shares at the then fair price to exceed 50.1% of the voting power in Bigo.

so YY inc is expanding it's business to south asia,

BIGO is in the top 20 apps used in Singapore, Indonesia, Vietnam, Thailand, Cambodia, and Laos .

YY inc As of March 31, 2018, the Company had cash and cash equivalents of RMB4,086.5 million (US$651.5 million) and short-term deposits of RMB8,748.9 million (
US$1,394.8 million). For the first quarter of 2018, net cash from operating activities was RMB780.3 million (US$124.4 million).