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YY Stock Rising After Q2 Earnings, Management Changes

NEW YORK (TheStreet) -- Shares of YY (YY) were advancing in mid-morning trading on Thursday after the company posted stronger-than-anticipated earnings for the 2016 second quarter.

Following yesterday's market close, the Chinese video streaming company reported earnings of $1 per share, exceeding analysts' expectations of 71 cents per share.

Revenue soared 45.9% to $298 million year-over-year.

Monthly active users rose by more than 16% to 141.9 million users compared to the same period last year.

Additionally, YY appointed Zhou Chen as CEO. Former CEO David Xueling Li will...