JOYY FY 2013 Earnings Report — JOYY, Inc. Sponsored ADR Class A Revenue & Financial Results | Market Cap Arena

JOYY, Inc. Sponsored ADR Class AJOYY

FY 2013 Earnings

Reported March 17, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$301M	—	$131M	—	129.0%
Op. Income	$79M	—	$16M	—	376.5%
Gross Margin	51.6%	—	49.3%	—	2.4pp
Net Margin	26.2%	—	10.9%	—	15.3pp
EPS (Diluted)	$1.33	—	$0.29	—	358.6%
Free Cash Flow	$135M	—	$47M	—	187.5%

Revenue Flow

Item	Amount
REVENUE	$301M
Cost of Revenue	$146M
GROSS PROFIT	$155M
R&D Expenses	$44M
Selling & Marketing	$4M
General & Administrative	$33M
SG&A Expenses	$37M
Other Expenses	$2M
Operating Expenses	$77M
Cost & Expenses	$222M
OPERATING INCOME	$79M
Interest Income	$10M
Interest Expense	$0
Other Income/Expenses	$15M
INCOME BEFORE TAX	$93M
Income Tax Expense	$15M
Net Income from Continuing Ops	$79M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$79M
Net Income Deductions	-$399M
BOTTOM LINE NET INCOME	$478M
D&A	$8M
EBIT	$79M
EBITDA	$87M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$301M
Cost of Revenue	$146M
GROSS PROFIT	$155M
R&D Expenses	$44M
Selling & Marketing	$4M
General & Administrative	$33M
SG&A Expenses	$37M
Other Expenses	$2M
Operating Expenses	$77M
Cost & Expenses	$222M
OPERATING INCOME	$79M
Interest Income	$10M
Interest Expense	$0
Other Income/Expenses	$15M
INCOME BEFORE TAX	$93M
Income Tax Expense	$15M
Net Income from Continuing Ops	$79M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$79M
Net Income Deductions	-$399M
BOTTOM LINE NET INCOME	$478M
D&A	$8M
EBIT	$79M
EBITDA	$87M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$79M
Depreciation & Amortization	$8M
Stock-Based Compensation	$19M
Deferred Income Tax	-$6M
Other Non-Cash Items	$241.4K
Change in Working Capital	$46M
OPERATING CASH FLOW	$147M
Capital Expenditure	-$12M
Acquisitions (Net)	-$1M
Purchases of Investments	-$260M
Sales/Maturities of Investments	$164M
Other Investing Activities	-$191.7K
NET CASH FROM INVESTING	-$109M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$938.4K
NET CASH FROM FINANCING	-$938.4K
FREE CASH FLOW	$135M
Net Change in Cash	$37M

Balance Sheet

Item	Amount
Cash & Equivalents	$120M
Short-Term Investments	$236M
Net Receivables	$17M
Inventory	$0
Other Current Assets	$22M
TOTAL CURRENT ASSETS	$396M
PP&E (Net)	$17M
Goodwill	$260.2K
Intangible Assets	$5M
Long-Term Investments	$10M
Tax Assets	$103.1K
Other Non-Current Assets	$802.6K
TOTAL NON-CURRENT ASSETS	$33M
TOTAL ASSETS	$429M
Account Payables	$9M
Short-Term Debt	$0
Deferred Revenue	$52M
Other Current Liabilities	$4M
TOTAL CURRENT LIABILITIES	$116M
Long-Term Debt	$0
Deferred Revenue NC	$2M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2M
TOTAL LIABILITIES	$117M
Common Stock	$11.9K
Additional Paid-In Capital	$456M
Retained Earnings	-$144M
Treasury Stock	$0
Accum. Other Comp. Income	-$623.7K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$311M
Minority Interest	$0
TOTAL EQUITY	$311M
TOTAL LIABILITIES & EQUITY	$429M
Total Debt	$0
Net Debt	-$120M