YY Inc (NASDAQ: YY) stock fell over 0.9% in the pre-market session on March 5^th, 2019 (Source: Google finance) after the company acquired the remaining 68.3 percent stake in Bigo from shareholders, including YY’s chairman and acting CEO David Xueling Li. The Chinese firm owned approximately 31.7 per cent of Bigo prior to the transaction. YY has paid about $1.45 billion to fully acquire Bigo Inc, the Singapore-based startup that owns global live streaming platform Bigo Live and short-form social video platform Like. Last June, YY announced that it invested $272 million in a Series D round for Bigo Inc as its lead investor. Ping An Overseas Holdings, an asset management unit of China’s Ping An Group, had led Bigo’s Series C funding round in 2017. The transaction was approved by the independent audit committee of YY’s board of directors, which considered the arms-length negotiation background as well as the fairness analysis conducted by its advisor China Renaissance Securities (Hong Kong) Limited, and was approved by YY’s board of directors. The combination of YY’s and Bigo’s unparalleled businesses and services in both China and overseas will enable the Chinese firm to create enhanced live streaming content and further expand its global footprint.

On the other hand, the total revenues increased by 28% year-over-year to RMB4.64 billion during the fourth quarter, exceeding the high end of the previous guidance range. Revenues from the live streaming business grew by 30.4% year-over-year to RMB4.39 billion. Revenue from game live streaming subsidiary Huya increased by 100.31% year-over-year to RMB1.5 billion. During the fourth quarter, the company has achieved year-over-year and subsequent sequential increases in both the mobile live stream and use and live streaming pay users. The number of mobile live streaming monthly active users increased by 18.1% to 90.4 million and numbers of live streaming pay users increased by 36.6% to 8.9 million in the fourth quarter of 2018. Non-GAAP net income attributable to YY was RMB836.2 million (US$121.6 million) for the fourth quarter 2018, compared to RMB932.1 million in the corresponding period of 2017. Non-GAAP net margin was 18.0% in the fourth quarter of 2018, compared to 25.7% in the corresponding period of 2017. As of December 31, 2018, the Company had cash and cash equivalents of RMB6,004.2 million (US$873.3 million) and short-term deposits of RMB7,327.0 million (US$1,065.7 million).

For the first quarter of 2019, the Company expects net revenues to be between RMB4.01 billion and RMB4.16 billion, representing a year-over-year growth of 23.4% to 28.0%.