NEW YORK (TheStreet) -- Shares of YY (YY) - Get Report were advancing in mid-morning trading on Thursday after the company posted stronger-than-anticipated earnings for the 2016 second quarter.

Following yesterday's market close, the Chinese video streaming company reported earnings of $1 per share, exceeding analysts' expectations of 71 cents per share.

Revenue soared 45.9% to $298 million year-over-year.

Monthly active users rose by more than 16% to 141.9 million users compared to the same period last year.

Additionally, YY appointed Zhou Chen as CEO. Former CEO David Xueling Li will succeed Jun Lei as chairman, who resigned his position effective immediately.

Lei is leaving the company in order to "focus his energy" on Xiaomi, where he is the CEO and chairman, according to a statement.

About 2.02 million of the company's shares changed hands so far today, above its average 30-day volume of 1.22 million shares per day.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures.

But the team also finds weaknesses including deteriorating net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: YY

Image placeholder title