Livestreaming social media company YY recorded substantial increases in net revenues and active users but almost doubled operating expenses in the first quarter.

Net revenues increased 47% year-on-year to RMB 4.78 billion ($705 million), primarily driven by increases in live-streaming revenues and the acquisition of tech company Bigo in March 2019. Close to 94% of net revenue came from YY’s live-streaming service portfolio, with YY Live and Huya the top two contributors.

Net income rocketed 224% year-on-year, reaching RMB 3.12 billion. YY attributed this increase to remeasurement gains of its previously held interests in Bigo, which amounted to RMB 2.67 billion.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Tony Xu

Tony Xu is Shanghai-based tech reporter. Connect with him via e-mail: tony.xu@technode.com