(Yicai Global) Nov. 13 -- YY's stock price rose more than 5 percent in after-hours trading in New York after the Chinese social media platform operator reported strong third-quarter revenue growth.

Shares [NASDAQ:YY] of the company, which owns the YY and Huya social media and video-streaming platforms, jumped to as high as USD68.20 each, after ending yesterday half a percent lower at USD65.03.

Revenue gained almost 68 percent to USD963 million between July and September from a year earlier, the Guangzhou-based firm said in an unaudited earnings statement published today. Investors shrugged off an 83 percent drop in net profit to USD15.4 million, which marked the fourth consecutive quarter of lower earnings, as a result of YY acquiring all of Singapore's Bigo Live.

YY said in early March that it had bought the 68.3 percent of Bigo Live it did not already own for about USD1.45 billion. The buyout's contribution to earnings has begun to show. YY's main income from live streaming in the third quarter rose an annual 66.2 percent to USD906 million, with YY and Huya contributing USD162.4 million and Bigo Live bringing in USD198.5 million.

YY had 470.1 million monthly active users for its global mobile terminal in the third quarter and 77.9 percent of them were overseas subscribers. The company operates instant messaging software imo, short video content platform Likee and streaming platform Hago besides Bigo Live.

"Our solid operating and financial performance demonstrates the effectiveness of our strategies in product globalization, content innovation and technology advancement," Chief Executive Officer Li Xueling said. "During the third quarter of 2019, we extended the global footprints of Likee, imo, Bigo Live and Hago."

The expansion of overseas business also increased YY's operating costs in the quarter. Operating expenses were USD302.4 million, nearly triple compared with the same period last year. This was mainly because the company has increased overseas marketing activities and the Bigo buyout added to depreciation and amortization costs, YY said.

YY founded Bigo Live with an initial stake of 31.7 percent. Li said in March that the company would buy back more controlled assets for unified management to take advantage of resource efficiency and scale.