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YY Missed Earnings: Here's What You Need to Know

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Shares fell almost 10% on the eve of YY's (NASDAQ: YY  ) earnings. Those who sold now seem smart: In after-market trading, shares fell as much as 5.4%.

In Q4, total revenues increased 136.3% year over year, to RMB266.8 million (US$42.8 million). The growth was due to 169.1% increase in revenues from Internet value-added services (IVAS). YY's net income increased significantly, to RMB33.2 million (US$5.3 million). Analysts estimated $0.18, but the company brought in $0.10.

In 2012, total revenues increased by 156.5%, to RMB820.0 million (US$131.6 million). Net income was RMB89.2 million (US$14.3 million). For the year, estimates were $0.56, but earnings per share were $0.29. 

Operationally, Chief Financial Officer Eric He felt YY had a great year. Monthly active users grew by over 24% year over year to 70 million in the fourth quarter of 2012.

All in all, the management team was pleased about the company's year. YY had a successful IPO, and became a Nasdaq-listed company. Moving forward, the company will continue to deliver on its PC and mobile plans. Already, the company is considering new ideas, like online shows, classes, and other entertainment options for real-time engagement.

For the first quarter of 2013, YY expects its net revenues to range from RMB280 million and RMB290 million, representing a year-over-year growth of approximately 104.4%, to 111.7%. 

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  • Report this Comment On March 14, 2013, at 5:48 AM, penguining wrote:

    But YY said in it's 6-K that their results beat consensus. Which consensus number do you compare to? Does any database screw up their numbers?

  • Report this Comment On March 16, 2013, at 6:05 PM, djred678 wrote:

    @penguining: YY said they beat consensus because they did on majority of the estimates, but not all. Nonetheless, their performance was was good and I think what we are seeing is the effect of emotional short-term investing.

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