1Q14 Net Revenues Up 111.6% YOY to RMB666.3 Million 1Q14 Net Income Up 187.2% YOY to RMB183.6 Million 1Q14 Non-GAAP Net Income Up 153.0% YOY to RMB207.6 Million Announces US$100 Million Share Repurchase Program GUANGZHOU, China, May 5, 2014 (GLOBE NEWSWIRE) -- YY Inc. (Nasdaq:YY) ("YY" or the "Company"), a revolutionary real-time interactive social platform, today announced its unaudited financial results for the first quarter ended March 31, 2014. First Quarter 2014 Highlights
- Net revenues increased by 111.6% to RMB666.3 million (US$107.2 million) from RMB315.0 million in the corresponding period of 2013, primarily driven by a 127.1% increase in revenues from internet value-added services, or IVAS revenues.
- Net income attributable to YY Inc. increased by 187.2% to RMB183.6 million (US$29.5 million) from RMB63.9 million in the corresponding period of 2013.
- Non-GAAP net income attributable to YY Inc. 1 increased by 153.0% to RMB207.6 million (US$33.4 million) from RMB82.1 million in the corresponding period of 2013.