T. H. Data Flash – YY Inc. – August & 3Q19E: Positive Into 3Q19E Performance Driven By Better User Growth From YY Live and Huya
We are positive into YY’s 3Q19 performance. Based on our data and model, we believe YY’s 3Q19E revenue is likely to be higher than consensus at RMB6,673M and our model. The growth was mainly driven by: 1) better growth of YY Live users in 3Q19 compared with that in 2Q19; and 2) higher growth in both users and hosts for HUYA in 3Q19 driven by well-known game tournaments.
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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