YY Q4 Results Top Estimates

(RTTNews) - YY Inc. (YY) reported net income for the fourth quarter of RMB372.8 million or RMB6.15 per ADS, compared to RMB192.0 million or RMB3.21 per ADS for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was RMB410.8 million (US$66.2 million) or RMB 6.74 (US$1.04) per ADS.

Net revenues for the fourth quarter jumped 91.2% to RMB1.17 billion (US$188.7 million) from RMB612.3 million a year earlier, mainly driven by a 100.4% increase in IVAS revenues.

Analysts polled by Thomson Reuters expected the company to earn $0.85 per ADS on revenue of $178.08 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts first quarter revenue of RMB1.06 billion to RMB1.08 billion, representing a year-over-year growth of 59% to 62%.