YY, Inc. (NASDAQ: YY) reported Q4 EPS of $0.94, $0.10 better than the analyst estimate of $0.84. Revenue for the quarter came in at $188.7 million versus the consensus estimate of $178.64 million.

For the first quarter of 2015, the Company expects its net revenues to be between RMB1.06 billion and RMB1.08 billion, representing a year-over-year growth of approximately 59% to 62%. These forecasts reflect the Company's current and preliminary view on the market and operational conditions, which are subject to change.

Mr. David Xueling Li, Chief Executive Officer of YY, stated, "We are pleased to report strong fourth quarter results as we continue to expand upon the strength of our music and entertainment business and introduce exciting new initiatives. Driven by the strength of our online music and entertainment business, we experienced another year of over 100% total revenue growth. This achievement has enabled us to reach another remarkable milestone; we have more than doubled our total revenues every single year for the past nine consecutive years. We are particularly pleased with the performance of our Mobile YY, which we upgraded with a number of new features at the end of September last year. For the fourth quarter of 2014, Mobile YY monthly active users reached 30 million, representing a growth of 32% quarter-over-quarter and over 80% year-over-year. Partly driven by a successful Grand Annual Event Competition in the fourth quarter of 2014, revenues from Mobile YY almost doubled and the number of Mobile YY paying users grew 81% quarter-over-quarter, accounting for nearly 40% of total music and entertainment paying users. As we move forward, we remain confident in our ability to provide our users with new and innovative services, and further solidify our position as the leading real-time interactive social platform in China."

Mr. Eric He, Chief Financial Officer of YY, commented, "We continue to see strong top-line performance, driven primarily by an increase in paying users across the YY platform. As we head into 2015, we anticipate increased investments in order to strengthen and expand our content offering, bandwidth capacity and services offerings across the YY platform. We remain steadfast in exploring new avenues to meet our users' dynamic and evolving needs, and by providing unique and innovative new services, we can continue to build scale and cost efficiencies into our business and create additional value for our shareholders."

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