JOYY FY 2014 Earnings Report — JOYY, Inc. Sponsored ADR Class A Revenue & Financial Results | Market Cap Arena

JOYY, Inc. Sponsored ADR Class AJOYY

FY 2014 Earnings

Reported April 21, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$593M	—	$301M	—	97.1%
Op. Income	$174M	—	$79M	—	121.4%
Gross Margin	49.7%	—	51.6%	—	-1.9pp
Net Margin	28.9%	—	26.2%	—	2.7pp
EPS (Diluted)	$2.80	—	$1.33	—	110.5%
Free Cash Flow	$178M	—	$135M	—	31.0%

Revenue Flow

Item	Amount
REVENUE	$593M
Cost of Revenue	$298M
GROSS PROFIT	$295M
R&D Expenses	$70M
Selling & Marketing	$17M
General & Administrative	$36M
SG&A Expenses	$52M
Other Expenses	$0
Operating Expenses	$121M
Cost & Expenses	$419M
OPERATING INCOME	$174M
Interest Income	$27M
Interest Expense	$9M
Other Income/Expenses	$22M
INCOME BEFORE TAX	$196M
Income Tax Expense	$25M
Net Income from Continuing Ops	$172M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$172M
Net Income Deductions	-$893M
BOTTOM LINE NET INCOME	$1.1B
D&A	$13M
EBIT	$205M
EBITDA	$218M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$593M
Cost of Revenue	$298M
GROSS PROFIT	$295M
R&D Expenses	$70M
Selling & Marketing	$17M
General & Administrative	$36M
SG&A Expenses	$52M
Other Expenses	$0
Operating Expenses	$121M
Cost & Expenses	$419M
OPERATING INCOME	$174M
Interest Income	$27M
Interest Expense	$9M
Other Income/Expenses	$22M
INCOME BEFORE TAX	$196M
Income Tax Expense	$25M
Net Income from Continuing Ops	$172M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$172M
Net Income Deductions	-$893M
BOTTOM LINE NET INCOME	$1.1B
D&A	$13M
EBIT	$205M
EBITDA	$218M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$172M
Depreciation & Amortization	$13M
Stock-Based Compensation	$22M
Deferred Income Tax	-$7M
Other Non-Cash Items	$1M
Change in Working Capital	$10M
OPERATING CASH FLOW	$210M
Capital Expenditure	-$32M
Acquisitions (Net)	-$30M
Purchases of Investments	-$873M
Sales/Maturities of Investments	$411M
Other Investing Activities	-$113M
NET CASH FROM INVESTING	-$637M
Net Debt Issuance	$387M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$34.3K
NET CASH FROM FINANCING	$387M
FREE CASH FLOW	$178M
Net Change in Cash	-$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$77M
Short-Term Investments	$679M
Net Receivables	$73M
Inventory	$232.9K
Other Current Assets	$477M
TOTAL CURRENT ASSETS	$875M
PP&E (Net)	$38M
Goodwill	$48M
Intangible Assets	$25M
Long-Term Investments	$30M
Tax Assets	$224.4K
Other Non-Current Assets	$90M
TOTAL NON-CURRENT ASSETS	$232M
TOTAL ASSETS	$1.1B
Account Payables	$16M
Short-Term Debt	$0
Deferred Revenue	$63M
Other Current Liabilities	$9M
TOTAL CURRENT LIABILITIES	$176M
Long-Term Debt	$395M
Deferred Revenue NC	$4M
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$432M
TOTAL LIABILITIES	$608M
Common Stock	$11.8K
Additional Paid-In Capital	$468M
Retained Earnings	$28M
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$2.7B
TOTAL STOCKHOLDERS' EQUITY	$498M
Minority Interest	$0
TOTAL EQUITY	$498M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$395M
Net Debt	$318M