NEW YORK (TheStreet) -- Shares of YY Inc. (YY) - Get Report are higher by 6.45% to $58.73 at the start of trading on Friday morning, following the release of the China-based communication social platform's 2014 fourth quarter financial results, which came in greater than analysts were expecting for the period and improved year-over-year.
For the most recent quarter the company said its net earnings increased by 91.6% to 94 cents per diluted ADS versus the 85 cents analysts polled by Thomson Reuters had forecast.
YY Inc.'s net revenue for the 2014 fourth quarter rose by 91.2% to $188.7 million compared to the $178.08 million analysts were anticipating.
"We are pleased to report strong fourth quarter results as we continue to expand upon the strength of our music and entertainment business and introduce exciting new initiatives. Driven by the strength of our online music and entertainment business, we experienced another year of over 100% total revenue growth," YY Inc. CEO David Xueling Li said in a statement.
Separately, TheStreet Ratings team rates YY INC -ADR as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate YY INC -ADR (YY) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: YY Ratings Report