Bullish stock to watch: JOYY Inc (NASDAQ: YY)

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JOYY Inc (NASDAQ: YY) stock rose over 2.4% on March 17th, 2020 (as of 11:14 am GMT-4; Source: Google finance) as the company posted better than expected results for the fourth quarter of FY 19. Global average mobile MAUs stood at 485.2 million, among that 78.8% were from markets outside of China. The average mobile MAUs of Likee grew by 208.3% to 115.3 million. The average mobile MAUs of global live streaming services rose by 22% to 158.9 million from 130.8 million a year ago. The average mobile MAUs of IMO was 211 million. The total number of paying users of YY rose by 10% to 4.5 million while the total number of paying users of Huya rose by 6% to 5.1 million.

During the fourth quarter, Likee maintained its robust user base expansion momentum, which was mainly due to the growing user base throughout Southeast Asia and developed world. Likee continued to make segue in target markets such as Indonesia and Russia capturing a substantial share of the market during the period to catch with the leading players in both countries. On the monetization fronts, Likee continued to make progress in the areas of grand partnerships and advertisement campaigns during the fourth quarter. The company has completed the initial development and testing for Likee’s advertising system which it intends to launch in the first quarter of 2020.

YY in the fourth quarter of FY 19 has reported the adjusted earnings of RMB6.70 or $0.96 per American Depository Shares, beating the analysts’ estimates for the adjusted earnings of RMB6.47 per ADS. The company had reported the adjusted revenue growth of 64.2 percent to RMB7.62 billion in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of RMB7.25 billion. Live streaming revenues grew by 63% on the continued live streaming revenues growth in the segments and the contribution from the consolidation of the Bigo segment. Other revenues grew by 89% on higher advertising revenues from Huya and Bigo. Gross profit for the fourth quarter rose by 54.6% year-over-year to RMB 2.52 billion. Gross margin in the fourth quarter of 2019 declined to 33% from 35.1% in the same period of 2018.

For the first quarter, the company expects net revenues to be in the range of RMB6.75-6.85 billion. This represents year-over-year growth of 41.2-43.3%. The consensus estimates for revenue is of RMB6.86 billion.

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