YY - JOYY +4.7% after Q3 earnings $3.6B YY Live deal

JOYY (YY) is up 4.7% after hours, following its Q3 earnings report and the news that it was selling its China live-streaming business to Baidu for $3.6B. Revenues jumped 36% to 6.29B yuan (about $926M), and non-GAAP net income rose 64%, to 809.4M yuan (about $119.2M), mainly due to trimmed losses at Bigo. (GAAP net income jumped to 2.3B yuan ($339.2M) from 61.8M, but primarily due to the gain from partial disposal of its Huya investment.) Mobile users overall declined, as did paying users. Global average mobile MAUs fell 4% to 390.1M, mainly due to efforts by India to block Chinese apps including Bigo Live, Likee and Hago. Average mobile MAUs of Likee rose 3.8% overall, though, to 104M. Average mobile MAUs of global live streaming services fell 2.3% to 92M (YY +3.4% to 41.3M; outside China down 6.5% to 50.7M, including 28M from Bigo Live, which rose 27.7%, and

For further details see:

JOYY +4.7% after Q3 earnings, $3.6B YY Live deal