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

Aug 13, 2019 • 09:00 pm ET

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

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to YY Inc. Second Quarter 2019 Earnings Conference Call. [Operator Instructions] After the management's prepared remarks, we will have a question-and-answer session. [Operator Instructions]

I'd now like to hand the conference over to your speaker and host today Mr. Matthew Zhao, IR Director of YY. Thank you, sir. Please go ahead.

Executive
Matthew Zhao

Thank you, operator. Good morning and good evening, everyone. Welcome to YY second quarter 2019 earnings conference call. Joining us today are Mr. David Xueling Li, Chairman and CEO of YY; Mr. Bing Jin, CFO of YY; and Ms. Ting Li, COO of YY.

For today's call management will first provide a review of the quarter and then we will conduct Q&A session. The second quarter of 2019, financial results and webcast of this conference call are available at ir.yy.com. A replay of this call will also be available on our website in a few hours.

Before we continue, I refer you to our Safe Harbor statement in our earnings press release, which applies to this call as we will make forward-looking statements. Finally, please know that, unless otherwise stated, all figures mentioned during this conference call are in renminbi.

I will now turn the call over to our Chairman and CEO, Mr. David Xueling Li. Please go ahead, sir.

Executive
David Xueling Li

[Foreign Speech]

Thank you, Matthew. Hello, everyone. Welcome to YY's earnings conference call for the second quarter of 2019.

[Foreign Speech]

Following our successful acquisition of BIGO in March, the second quarter was the first time we had a full quarter consolidation of BIGO's financials. I would like to take this opportunity to share with you the latest business updates, as well as the strategy and development focus for the YY group. As you all know, after the acquisition of BIGO, YY has evolved into a world-leading social media platform, offering a comprehensive suite of video-centric products and services, including instant messaging, cellphone video, live streaming and etc.

[Foreign Speech]

During the second quarter, we have achieved notable progress on three fronts: first, introduce short-form video content into our instant messaging product, IMO, and further enhance its user stickiness; second, drive rapid growth of overseas short-form video users through Likee; and third, further strengthen YY Live and BIGO Live operations and solidify our global leadership in the entertainment live streaming market.

Starting from this quarter, we have also revamped our disclosure of operating metrics. We believe that this heightened disclosure transparency will help investors to better understand and follow YY group's business development going forward.

[Foreign Speech]

In the second quarter, our global average mobile MAUs reached 433.5 million. Our global short-form video mobile MAU increased by 431.2% year-over-year to 90.3 million and global live streaming mobile MAUs increased by 39.2% year-over-year to 140.9 million. More importantly, IMO, our instant messaging product, achieved a massive user base of almost 212 million MAUs in the quarter. The increasing diversity of our user base offers great potential for future monetization and the