YY Inc (ADR) (NASDAQ: YY) stock surged over 3.2% on November 14th after-hours session driven by their decent third quarter of 2017 performance. YY stock made outstanding returns this year which rose over 126.4% in this year to date (as of November 14th; Source: Google finance).

Their revenues reached the high end of their guidance, wherein the overall net revenues surged 48% yoy to RMB3, 092.3 million driven by rising live streaming revenues, which delivered an outstanding growth of 60.4% year over year to RMB2, 871.6 million. The group’s mobile live streaming monthly active users (MAU) surged 36.6% on a year over year basis to 73.0 million. Overall live streaming paying users enhanced 46.5% on a year over year basis to 6.3 million. Their strategies to attract younger generation users paid off as they were able to improve their current user’s engagement and consumption on their live streaming social media platform. The group rolled out several new social functionalities and features in the latest version of YY Live 7.0, which comprises Accompany Me, Happy Basketball, and Clip Doll Online. Moreover, they launched several new short-form video products to tap into more segmented video verticals and fulfill the diversified demands of users across China.

YY Live, as well as Huya broadcasting, mainly contributed to the top line performance. Going forward, the group intends to leverage on their YY Live and Huya growth engines. YY management believes that they are well positioned to face competition in China’s live streaming social media industry.

The group’s non-GAAP net income attributable to YY enhanced 46.7% to RMB639.1 million during the quarter, as Huya’s Non-GAAP operating loss decreased from RMB159.3 million to RMB10.1 million. For the fourth quarter of 2017, YY is aiming for net revenues to be in the range of RMB3.4 billion and RMB3.5 billion, which is a growth of 36.5% to 40.6% on a yoy basis.