YY: Overseas Live Streaming Has Huge Potential; Positive On BIGO Live Performance In 1Q21
YY will report 1Q21 results on May 27th after the markets close followed by a 9pm EST conference call. We are positive on YY’s performance in 1Q21E. Based on our data and model, we believe YY’s revenue is likely to be at least in line with consensus expectation at RMB 3,919M, which is for overseas business only. We are optimistic about its overseas business. Its domestic business was sold to BIDU, and we believe it is currently undergoing the approval procedure.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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