4Q12 Net Revenues Up 136.3% YOY 4Q12 Net Income of RMB33.2Million 4Q12 Non-GAAP Net Income Up 80.9% YOY
GUANGZHOU, China, March 7, 2013 (GLOBE NEWSWIRE) -- YY Inc. (Nasdaq:YY) ("YY" or the "Company"), a revolutionary rich communication social platform, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2012.
Fourth Quarter 2012 Highlights
- Net revenues increased by 136.3% year-over-year to RMB266.8 million (US$42.8 million) from RMB112.9 million in the corresponding period of 2011 driven by a 169.1% increase in revenues from internet value-added services, or IVAS revenues.
- Net income attributable to YY increased significantly to RMB33.2 million (US$5.3 million) from RMB4.0 million in the corresponding period of 2011.
- Non-GAAP net income attributable to YY 1 increased by 80.9% year-over-year to RMB58.8 million (US$9.4 million) from RMB32.5 million.
- Net revenues increased by 156.5% to RMB820.0 million (US$131.6 million) in 2012 from RMB319.7 million in 2011.
- Net income attributable to YY was RMB89.2 million (US$14.3 million) in 2012, compared to a net loss of RMB83.2 million in 2011.
- Non-GAAP net income attributable to YY increased by 265.8% to RMB189.5 million (US$30.4 million) in 2012 from RMB51.8 million in 2011.