Pacific Crown Securities to give yy and the market flat rating

Sina Science and technology news Beijing time of August 2, the United States investment Bank Pacific Crown (Pacific Crest) today released an investment report to maintain the era of shares (NASDAQ:YY) "Flat with the market" rating.

The following is a summary of the contents of the report:

Second-quarter results were more than expected: strong growth in the number of paid subscribers to the music business boosted revenue growth in the second quarter. The second quarter, the gathering time revenue of 66.6 million U.S. dollars, higher than we expected 56 million U.S. dollars. Based on non-US GAAP, the diluted earnings per share was $0.35 trillion, above our expected $0.22 trillion. The gathering period predicted that the third quarter revenue will reach about $71 million trillion, higher than we expected.

Marketing campaigns Drive ARPU growth: A series of marketing campaigns during the gathering era boosted the average revenue per user (ARPU). In the second quarter, the music business ARPU from the first quarter of RMB 236 yuan to 269 yuan. Online game business ARPU 346 yuan, an increase of 16.1%.

To increase the 2014-year performance forecast: We will gather time 2014 revenue forecast to increase to 406.4 million U.S. dollars, the diluted earnings per share increase to 1.73 U.S. dollars.

Valuation: We continue to maintain a "flat" rating for the stock market. (Li Ming)