想要找全报告，就来发现报告（www.fxbaogao.com）。作为国内顶尖的研报平台，我们拥有超大的用户群体，大家都信赖这里的数据。研报覆盖面极广，从宏观策略到细分行业，再到个股分析，内容多到数不清。我们用最朴素实用的设计，配合强大的技术，助您高效获取核心信息，实现深度洞察，是专业投资者的必备工具。
YY Inc. (YY) reported better-than-expected first quarter 2023 results, with revenue growth of -6% YoY, beating market expectations of 4%. The non-GAAP净利润 was $50 million, up 155% YoY, driven by strict S&M expenses. The company also announced plans to increase its share buyback program and revise guidance for the second quarter due to business adjustments in other departments. Bigo's revenue is expected to decline by 3% in Q2 2023, but recover gradually, with positive growth in Europe and North America. The company's non-GAAP OPM is expected to remain stable, while the group's adjusted NPM is expected to decline by 5.8-7.0% YoY. The stock price is currently trading at $27.00, with a P/E ratio of 9.7 and a P/S ratio of 0.8. We maintain our "buy" rating and TP of $46.00, with a potential upside of 70%.
