YY Inc. (NASDAQ: YY) is scheduled to report third quarter 2019 earnings results on Tuesday, November 12, after the market closes. Analysts have projected earnings of $0.80 per share on revenue of $944.3 million. This compares to earnings of $1.79 per share on revenue of $606.4 million reported a year earlier.
The quarterly results are expected to benefit from strong user growth, particularly in the short-form video and live streaming services. Last quarter, YY gained a significant portion of mobile monthly active users (MAUs) from markets outside China.
Last quarter, average mobile MAUs of short-form video services increased over 400% year-over-year with a significant portion of this coming from Likee. Average mobile MAUs in live streaming services saw double-digit growth with contributions from Huya, Bigo Live and Hago. The instant messaging platform IMO also saw growth. This momentum is expected to continue in the third quarter.
The expansion in the user base gives the company significant opportunity for monetization. The instant messaging platform and short-form video services are expected to drive growth for the company going forward.
Looking ahead, YY’s strategy of improving its content offerings and enhancing technological capabilities across its products with the help of AI is likely to pay off.
In the second quarter of 2019, YY reported a 67% increase in revenue to RMB6.295 billion, or $917 million. Revenue growth was mainly driven by a 66% increase in live streaming revenues. The results also benefited from the consolidation of Bigo. Adjusted net income per ADS was RMB5.14, or $0.75.
For the third quarter of 2019, YY has guided for revenue of RMB6.57 billion to RMB6.77 billion, representing a year-over-year growth of 60.2% to 65.1%.
Shares of YY have gained 7% year-to-date and 14% in the past one month.
Biocept (NASDAQ: BIOC) reported a narrower loss in the second quarter of 2020. The company's revenue declined by 23% year-over-year to $917,000, hurt by the COVID-19 pandemic. BIOC stock slumped
Lyft Inc (NASDAQ: LYFT) reported second-quarter financial results after the closing bell on Wednesday. The ride-hailing company reported a 61% dip in Q2 revenues to $339.3 million, narrowly beating Wall
Network gear maker Cisco Systems, Inc. (NASDAQ: CSCO) on Wednesday announced financial results for the fourth quarter of fiscal 2020, reporting a decline in earnings and revenues. However, the numbers