YY Profit Misses Estimate; Stock Down 8%

(RTTNews) - YY Inc (YY), a real-time interactive social platform, on Monday reported first-quarter net income of RMB227 million (US$36.5 million) compared with RMB183.6 million last year.

On a per American depositary share basis, earnings were RMB3.83 (US$ 0.62) versus RMB3.06 in the prior year.

Excluding items, adjusted earnings per ADS were RMB4.36 (US$0.70) compared with RMB3.46 a year ago.

Net revenues increased to RMB1.15 billion (US$185.6 million) from RMB666.3 million in the prior year.

Analysts polled by Thomson Reuters expected earnings of $0.75 per ADS on revenues of $174.4 million for the quarter.

For the second quarter, the company expects net revenues of RMB1.27 billion to RMB1.29 billion.

Analysts expect revenues of $206.8 million for the quarter.