BEIJING, Nov. 13 (Xinhua) -- Chinese social media platform YY Inc reported a robust revenue gain in the third quarter (Q3) of this year, with steady expansion in overseas mobile users for its livestreaming and short-form video services.
The company raked in 6.88 billion yuan (about 962.9 million U.S. dollars) in net revenue in Q3, up 67.8 percent year on year, according to its unaudited financial report released Wednesday.
Livestreaming services remained the leading revenue contributor, surging over 66 percent to 6.47 billion yuan.
The company reported that its global average mobile monthly active users (MAUs) expanded further to reach 470.1 million, with the majority of them being overseas users.
Likee, the company's global short-form video platform, saw its mobile MAUs top 100.2 million, spiking more than 400 percent over a year ago.
David Li, chairman and CEO of YY, attributed the rapid global user base growth to the company's content localization, cross-platform synergy and artificial intelligence technology enhancement.
Livestreaming has become a popular entertainment choice among young generations as users can buy virtual "gifts" to support broadcasters who try to attract fans through means such as singing, dancing or hosting talk shows.
YY expects its net revenue to be between 7.32 billion and 7.52 billion yuan for the fourth quarter, representing a year-on-year growth of 57.7 percent to 62 percent.
