YY is Up 18%, Almost $8 a Share in After Hours Trading!!!!!!!!!!!!!!
Great quarterly report:
YY Inc (ADR) (NASDAQ:YY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 17.83%. Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.26 per share, by that measure, the company beat the mean analyst estimate of $0.21. It beat the average revenue estimate of $55.63 million.
Revenue: Rose 125.38% to $66.6 million from the year-earlier quarter. Revenue increased 31.41% from $50.68 million in the previous quarter. EPS increased 13.04% from $0.23 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0 to a profit $0.23. For the current year, the average estimate has moved up from a loss of $0 to a profit of $0.93 over the last ninety days.
Quoting Management: Mr. David Xueling Li, Chief Executive Officer of YY, stated, “We are very proud of our strong operational performance this quarter, which lead to robust top line growth and continued margin expansion. Driven by 170% year-over-year growth in the number of paying users on our YY Music platform, revenues exceeded our expectations and our total paying user numbers grew more than 50% year-over-year. These results demonstrate the unique and growing value proposition that our platform provides our large audience base, as more Chinese internet users increasingly embrace real-time online interactive entertainment.”
YY PPS near $50 a share in after hours trading. More info on quarterly report:
2Q13 Net Revenues Up 117.8% YOY
2Q13 Gross Margin Expands to 53.3%
2Q13 Net Income of RMB92.8 Million
2Q13 Non-GAAP Net Income Up 184.1% YOY
GUANGZHOU, China, Aug. 1, 2013 (GLOBE NEWSWIRE) -- YY Inc. (YY) ("YY" or the "Company"), a revolutionary rich communication social platform, today announced its unaudited financial results for the second quarter ended June 30, 2013.
Second Quarter 2013 Highlights
• Net revenues increased by 117.8% to RMB409.0 million (US$66.6 million) from RMB187.8 million in the corresponding period of 2012, primarily driven by a 132.0% increase in revenues from internet value-added services, or IVAS, revenues.
• Net income attributable to YY Inc. increased by 436.7% to RMB92.8 million (US$15.1 million) from RMB17.3 million in the corresponding period of 2012.
• Non-GAAP net income attributable to YY Inc.  increased by 184.1% to RMB125.1 million (US$20.4 million) from RMB44.0 million in the corresponding period of 2012.