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China’s YY And Spinoff Huya Report Robust Earnings Growth – Investor’s Business Daily


China internet companies YY (YY) and Huya (HUYA) reported first-quarter earnings after the market close Tuesday that showed strong revenue and user growth.




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YY reported revenue of $518 million, beating analyst estimates for $487.8 million and up 43% in local currency. It reported adjusted earnings of $1.72 per share, beating Wall Street’s view of $1.52. Company shares were up 2.2%, near 123.45, during after-hours trading on the stock market today.

YY offers video streaming and chat features for concerts, fashion events and sports. Its monthly active user base for mobile livestreaming service rose 24% from the year-ago period to more than 77.6 million.

Huya, which was spun out of YY with an initial public offering on May 11, reported revenue of $134.5 million, up 111% from the year-ago quarter, in local currency. It reported adjusted earnings of 6 cents per share. That compares with a 35-cent loss in the year-ago period. Consensus estimates on Huya from analysts were not available.

Huya boasts the largest livestreaming gaming community in China. It ended the quarter with 92.9 million monthly average users, up 19% from the year-ago period.

Shares rose 8%, near 32.20, in late trading.



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