Chinese social media company YY Inc. (NASDAQ: YY) is scheduled to report second quarter 2019 earnings results on Tuesday, August 13, after regular hours. Analysts expect the company to report earnings of $0.88 per share on revenue of $881 million.
YY’s topline results in the second quarter are expected to benefit from momentum in live streaming services. The company is investing significantly in order to expand its user base and drive user engagement through tailored content and technological capabilities and these efforts are likely to aid growth.
Updates on the performance of Bigo, which YY acquired in
March, will also be worth watching. YY
faces stiff competition in China from the likes of Momo, TikTok and Tencent
Music Entertainment.
In the first quarter of 2019, YY reported revenue that topped expectations and earnings that were in line with estimates. Revenues rose 47% to $705.3 million while adjusted EPS totaled $1.38.
Global video and
live streaming average mobile monthly active users (MAU) reached over 400
million in Q1, of which over 75% were from outside China. Average mobile MAU
increased by 65.6% to 59.8 million.
YY’s shares have
dropped over 8% thus far this year and 21% in the past one month. The stock has
an average 12-month price target of $76.55.
Game streaming company Huya (NYSE: HUYA), in which YY holds a majority stake, is scheduled to report earnings on Tuesday as well.