The AlwaysOn X Fund portfolio ended the week up 1.3%, the NASDAQ was up 2.4%, and the S&P 500 advanced 2.2%. Year to date, the AO X Fund is up 9.5%, the NASDAQ is up 7.4%, and the S&P 500 s up 8.8%.
Chinese online social platform YY reported mixed Q4 results, missing EPS expectations, but beating on revenue numbers. Growth continues to be strong, with +136% revenue growth, +72% total users growth, and +34% monthly active users (MAU) increase for the quarter. Its online gaming channel, which makes up 37% of its total revenue, was up 86%, and YY Music which is 40% of revenues grew +317%. Q1 2013 guidance came in above the Street’s expectations. For the week, YY dropped 9.8%.
SolarCity, another recent IPO, reported weak Q1 results, causing the stock to drop significantly and us to sell our 1% position. SCTY missed EPS expectations and revenues came in relatively weak, with only 22% growth in Q4. On a positive note, its customer base grew by 192% to a total of 8,557. We will keep SCTY on our watchlist for now.
Chinese Internet and mobile security leader Qihoo 360 reported strong Q4 results, with EPS up 10% year-over-year and revenue up 65%. Total MAUs were up 13% at 456 million, browser MAUs increased 22% to 310 million, and browser penetration rates improved from 59.5% a year ago to 65.6% today. QIHU ended the week flat.
Michael Moe is an AlwaysOn contributing editor and a former co-founder of ThinkEquity.