YY's Q2 profit jumps 67%, revenue grows 31%

Friday 11 August 2017 | 14:33 CET | News
Chinese online social platform YY achieved net revenues of CNY 2.6 billion (approximately USD 384.8 million) in the second quarter of 2017, which represents an increase of 31.7 percent year-on-year. Revenue growth was mainly boosted by the increase in live streaming revenues, which jumped 42.9 percent to CNY 2.3 billion in the second quarter of 2017.

Revenues from online games totaled CNY 154 million in the second quarter of 2017, down from CNY 188.3 million in the corresponding period of 2016. Revenues from membership were CNY 52.2 million, also down from CNY 72.1 million in the second quarter of 2016.

Net income jumped 67.1 percent year-on-year to CNY 573.7 million in the second quarter. Net margin in the second quarter of 2017 increased to 22 percent from 17.3 percent in June 2016. YY ended June this year with cash and cash equivalents of CNY 1.3 billion. For the second quarter of 2017, net cash from operating activities was CNY 885.6 million. 

For the third quarter of 2017, YY expects its net revenues to be between CNY 2.75 billion and CNY 2.85 billion, representing a year-over-year growth of 31.6 percent to 36.4 percent.

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