diff --git a/ReactAndroid/gradle.properties b/ReactAndroid/gradle.properties
index 07ede970489..9ba964f928e 100644
--- a/ReactAndroid/gradle.properties
+++ b/ReactAndroid/gradle.properties
@@ -1,4 +1,4 @@
-VERSION_NAME=0.47.0-rc.0
+VERSION_NAME=0.47.0-rc.1
 GROUP=com.facebook.react
 
 POM_NAME=ReactNative
diff --git a/package.json b/package.json
index eb44f9ae46a..ff6e8414756 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-native",
-  "version": "0.47.0-rc.0",
+  "version": "0.47.0-rc.1",
   "description": "A framework for building native apps using React",
   "license": "BSD-3-Clause",
   "repository": {