The growth of YY Live’s host and active users is still under pressure, while HUYA (HUYA, $40.00 - Intraday, Not Rated) is growing strongly. Based on our data and model, we believe YY’s revenue is likely to be higher than consensus at RMB3.669B. HUYA’s growth is mainly driven by user growth, while YY Live is mainly driven by ARPU. ……

YY will report 1Q18 results on June 5th after the market closes followed by an 8pm EST conference call. We are positive on Huya and cautious on YY Live into earnings. While YY Group continued its high growth, YY Live showed some level of slowdown in terms of active user growth, and the growth of the Group’s users was mainly driven by Huya. ……

Based on our data and model, we believe MOMO’s 1Q18 revenue is likely to reach $406.6M, better than consensus at $391.4M, and tops the high end of its guidance range of $387M – $402M. ……

MOMO will report 4Q17 results on March 7th before the markets open with an 8am EST conference call. Based on our data and model, we believe MOMO’s 4Q17 revenue is likely to reach US$391.5M, better than consensus at US$380.0M, driven by live broadcasting annual festival, advertising as well as new activities on the platform.……

YY will report 4Q17 results on Monday, March 5th after the market closes with an 8pm EST conference call. In late 2Q17, the company started to make changes to its business by adding more types of live show formats, which has served as a revenue driver. The December gala also attracted more participants. ……

There have been concerns regarding the growth in paying users for MOMO’s live broadcasting as well as the potential growth of active users on the platform. In 4Q17, we are likely to see improvement on both fronts as a result of the company’s efforts to expand into more social features beyond live broadcasting. ……

We upgrade YY stock to BUY from HOLD, mainly due to the strong performance in musical show business. According to our proprietary data, we believe there was strong growth in both active users and the number of hosts. In addition, the company started to monetize its education sector starting in 2Q15. Since we believe most of the negatives are out, we upgrade the stock to BUY from HOLD with a price target of $94.00. ……

January 1 – March 31, 2015 Operating Data Highlights:Data in this report is extracted from publicly available sources and processed with our proprietary methodology.•Hourly ACU (average concurrent users) for musical shows were up, while other channels dropped driven by the decline in game broadcasting – In 1Q15, average hourly ACU of music may increase 33.1% Q/Q, while the ACU of game broadcasting decreased significantly (Figure 1).……

YY will report its 4Q14 results on Thursday after the market closes followed by an 8:00 pm ET conference call. We are expecting YY to deliver 4Q14 results in line or slightly better than consensus primarily driven by the increase in musical and dating show business. However, according to our proprietary data, its web games and game broadcasting declined significantly in January and February, which may limit the upside to its 1Q15 guidance, excluding the possible revenue contribution from the rec……

•Hourly ACU (average concurrent users) for musical and dating shows were up, slightly offset by other channels – During the period of 10/01/2014-12/25/2014, total ACU may increase 6.8% Q/Q. Of that, ACU for musicals may increase 38.2% Q/Q (Figure 1), primarily driven by the annual ceremony in early December, and dating service may increase to 88K in December 2014 from 77K in September, even though the hourly ACU of game broadcasting may decrease slightly at 0.8% Q/Q (Figure 2 & Figure 3).……

July 1 – August 28, 2014 Operating Data Highlights:Data in this report is extracted from publicly available sources and processed with our proprietary methodology.Increase in daily ACU (average daily concurrent users) of both music and others – During the period of 07/01/2014-08/28/2014, the daily ACU on YY's platform may increase 68.2% Y/Y to 4.5M from 2.7M in 3Q13. Of that, daily ACU of music shows and other business activities including game channels and others increased 38% Y/Y and 88.3%……

YY Inc. Different Types of Live Shows to Drive Conversion and ARPU; New User Growth is Key to Future Growth; Maintain Hold  YY reported stellar 2Q14 results and provided 3Q14 guidance above consensus by a wide margin, which was primarily driven by the strong growth in different types of live show business including music, game broadcastings and dating shows. We believe YY may continue its efforts toconvert existing users into paying users and increase per user spending in the near term; how……