JOYY FY 2017 Earnings Report — JOYY, Inc. Sponsored ADR Class A Revenue & Financial Results | Market Cap Arena

JOYY, Inc. Sponsored ADR Class AJOYY

FY 2017 Earnings

Reported April 26, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.2B	—	50.3%
Op. Income	$413M	—	$255M	—	62.1%
Gross Margin	39.4%	—	37.8%	—	1.6pp
Net Margin	21.5%	—	18.6%	—	2.9pp
EPS (Diluted)	$6.40	—	$3.80	—	68.4%
Free Cash Flow	$506M	—	$315M	—	60.5%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.1B
GROSS PROFIT	$700M
R&D Expenses	$120M
Selling & Marketing	$106M
General & Administrative	$83M
SG&A Expenses	$189M
Other Expenses	$24M
Operating Expenses	$292M
Cost & Expenses	$1.4B
OPERATING INCOME	$413M
Interest Income	$28M
Interest Expense	$5M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$443M
Income Tax Expense	$64M
Net Income from Continuing Ops	$384M
Net Income from Discontinued Ops	$0
Other Adjustments	-$3M
NET INCOME	$382M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$382M
D&A	$37M
EBIT	$448M
EBITDA	$484M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.1B
GROSS PROFIT	$700M
R&D Expenses	$120M
Selling & Marketing	$106M
General & Administrative	$83M
SG&A Expenses	$189M
Other Expenses	$24M
Operating Expenses	$292M
Cost & Expenses	$1.4B
OPERATING INCOME	$413M
Interest Income	$28M
Interest Expense	$5M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$443M
Income Tax Expense	$64M
Net Income from Continuing Ops	$384M
Net Income from Discontinued Ops	$0
Other Adjustments	-$3M
NET INCOME	$382M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$382M
D&A	$37M
EBIT	$448M
EBITDA	$484M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$384M
Depreciation & Amortization	$37M
Stock-Based Compensation	$39M
Deferred Income Tax	$600.3K
Other Non-Cash Items	-$6M
Change in Working Capital	$114M
OPERATING CASH FLOW	$570M
Capital Expenditure	-$64M
Acquisitions (Net)	$14M
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$163M
NET CASH FROM INVESTING	-$618M
Net Debt Issuance	-$327M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$88M
NET CASH FROM FINANCING	$213M
FREE CASH FLOW	$506M
Net Change in Cash	$159M

Balance Sheet

Item	Amount
Cash & Equivalents	$401M
Short-Term Investments	$938M
Net Receivables	$39M
Inventory	$48.2K
Other Current Assets	$1.2B
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$156M
Goodwill	$2M
Intangible Assets	$286M
Long-Term Investments	$177M
Tax Assets	$17M
Other Non-Current Assets	$25M
TOTAL NON-CURRENT ASSETS	$663M
TOTAL ASSETS	$2.2B
Account Payables	$12M
Short-Term Debt	$90M
Deferred Revenue	$128M
Other Current Liabilities	$16M
TOTAL CURRENT LIABILITIES	$482M
Long-Term Debt	$1M
Deferred Revenue NC	$9M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$80M
TOTAL NON-CURRENT LIABILITIES	$11M
TOTAL LIABILITIES	$493M
Common Stock	$12.3K
Additional Paid-In Capital	$818M
Retained Earnings	$799M
Treasury Stock	$0
Accum. Other Comp. Income	$8M
Other Equity	$817M
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$96M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$2.2B
Total Debt	$91M
Net Debt	-$310M