Synergy drives YY Q3 revenue growth

Live-streaming social platform YY posted third-quarter revenue of 6.88 billion yuan (US$980 million), up 67.8 percent year on year, as it drove synergy between live-streaming and short-form video services. 

Meanwhile, company profit was down 27 percent to 574.1 million yuan after consolidating its results with Singaporean live-streaming site Bigo last year. 

Live-streaming revenues increased by 66.2 percent to 6.47 billion yuan and total live-streaming paying users grew by 26 percent. 

Bandwidth costs nearly doubled to 496.8 million yuan as the company's overseas user base expanded and users spent more time on the platform.

YY Chairman and Chief Executive Officer Li Xueling expects the company to further expand its geographic coverage, innovate content formats and advance technology development to capitalize on the growing market demand for global video-based social media. 

Globalization has been a key strategy as monthly active user through YY's mobile services reached 470.1 million, and around 78 percent of whom are overseas.