YY Inc. (NASDAQ:YY) Q2 2019 Earnings Conference Call Transcript

Aug 13, 2019 • 09:00 pm ET

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YY Inc. (NASDAQ:YY) Q2 2019 Earnings Conference Call Transcript

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Presentation
Executive
Bing Jin

investments, amortization of intangible assets from business acquisitions, as well as gain on deconsolidation and disposal of subsidiaries, was RMB524.9 million, compared to RMB933.1 million in the prior year period. Our non-GAAP operating margin for the second quarter was 8.3%, compared to 24.7% in the prior year period.

GAAP net income attributable to controlling interest of YY for the second quarter of 2019 was RMB42.1 million, compared to a net loss attributable to controlling interest of YY of RMB99.9 million in the prior year period. Non-GAAP net income attributable to controlling interest of YY was RMB424.2 million, compared to RMB910.2 million in the prior year period.

Non-GAAP net margin in the second quarter of 2019 was 6.7%, compared to 24.1% in the prior year period. Diluted net income per ADS in the second quarter of 2019 was RMB0.27, compared to a diluted net loss per ADS of RMB2.14 in the prior year period. Non-GAAP diluted net income per ADS was RMB5.14, compared to RMB13.75 in the prior period.

Looking forward to the third quarter of 2019, we expect our net revenues to be between RMB6.57 billion and RMB6.77 billion, representing a year-over-year increase of 60.2% to 65.1%. This forecast reflects our current and preliminary views on the market and operational conditions, which are subject to change.

That concludes our prepared remarks. Operator, we would now like to open up the call to questions.