Exhibit 99.1 JOYY Reports Fourth Quarter and Full Year 2024 Unaudited Financial Results Singapore, March 20, 2025 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global technology company, today announced its unaudited financial results for the fourth quarter and full year of 2024. Fourth Quarter 2024 Financial Highlights · Net revenues were US$549.4 million, compared to US$569.8 million in the corresponding period of 2023. · Net loss attributable to controlling interest of JOYY was ...

JOYY Inc. (NASDAQ:YY) Q4 2024 Earnings Conference Call March 19, 2025 9:00 PM ET Company Participants Jane Xie - Investor Relations Senior Manager Ting Li - Chairperson of the Board & CEO Alex Liu - Vice President of Finance Conference Call Participants Thomas Chong ??? Jefferies Yiwen Zhang - China Renaissance Brian Gong - Citi Raphael Chen - BOCI Research Operator Ladies and gentlemen, thank you for standing by, and welcome to the JOYY Inc.'s Fourth Quarter 2024 Earnings Call. At this time, all participan ...

Core Viewpoint - JOYY Inc. reported strong financial results for the fourth quarter and full year of 2024, highlighting steady revenue growth and profit margins, alongside a commitment to shareholder returns through dividends and share repurchases [1][2][3]. Financial Performance - In Q4 2024, JOYY's revenue was US$549.4 million, with the BIGO segment contributing US$480.0 million [1] - For the full year 2024, total revenue reached US$2.24 billion, with BIGO generating US$1.99 billion, reflecting a year-over-year increase of 3.3% [1][8] - Non-GAAP net profit for 2024 was US$298.5 million, up 2.0% from 2023, with a non-GAAP net margin of 13.3% [2][8] - Non-GAAP operating profit for the year was US$136.1 million, a 4.2% increase year-over-year, with a non-GAAP operating margin of 6.1% [2] Shareholder Returns - In 2024, JOYY repurchased 9.21 million ADSs for US$309.2 million, representing 15.1% of total outstanding shares as of the end of 2023 [3] - The company announced a quarterly dividend policy for the next three years, expecting to pay approximately US$600 million in total cash dividends, with US$50 million per quarter [4] Operational Highlights - JOYY focused on enhancing operational efficiency and diversifying revenue streams, with non-livestreaming revenues growing by 55.9% to US$449.8 million year-over-year [6] - Bigo Live implemented a multimodal content moderation model and improved user verification processes to enhance community safety [7][9] - Likee's DAUs in Europe increased by 4.4% quarter-over-quarter, and its livestreaming revenue grew by 2.2% sequentially, marking its second consecutive profitable year [12][13] Future Outlook - JOYY aims to drive diversified growth and deepen market penetration through AI-driven innovation and operational enhancements [6] - The company plans to continue its share repurchase program, allowing for up to US$300 million in share buybacks until December 2027 [4]

Core Insights - JOYY Inc. reported its unaudited financial results for Q4 and full year 2024, highlighting a significant operational shift and financial performance amidst challenges [1] Financial Highlights - Q4 2024 net revenues were US$549.4 million, a decrease from US$569.8 million in Q4 2023 [7][8] - Full year 2024 net revenues totaled US$2,237.8 million, down from US$2,267.9 million in 2023 [20] - The company experienced a net loss attributable to controlling interest of US$304.1 million in Q4 2024, compared to a net income of US$45.8 million in Q4 2023 [15] - For the full year 2024, the net loss attributable to controlling interest was US$146.2 million, contrasting with a net income of US$301.8 million in 2023 [23] Operational Highlights - Non-GAAP operating income for the full year 2024 reached US$136.1 million, a 4.2% increase year-over-year [5][22] - Non-livestreaming revenues surged by 55.9% to US$449.8 million year-over-year [5] - Global average mobile monthly active users (MAUs) decreased to 263.1 million in Q4 2024 from 274.9 million in Q4 2023 [7] Cost and Profitability - Gross profit for Q4 2024 was US$203.8 million, with a gross margin of 37.1%, up from 35.4% in Q4 2023 [11] - Operating expenses rose to US$633.5 million in Q4 2024, compared to US$199.4 million in Q4 2023, largely due to a US$454.9 million goodwill impairment charge [12][13] - Non-GAAP net income attributable to controlling interest was US$96.1 million in Q4 2024, compared to US$64.2 million in Q4 2023 [16] Shareholder Returns - The company repurchased 9.21 million ADS for a total of US$309.2 million during 2024, representing 15.1% of total shares outstanding as of the end of 2023 [5][27] - A new share repurchase program was approved, allowing for up to US$300 million in share buybacks until the end of 2027 [28] - A quarterly dividend of US$0.93 per ADS was declared, expected to be paid on April 30, 2025 [30] Business Developments - JOYY completed the sale of its YY Live business to Baidu for approximately US$2.1 billion in cash [31] - The company will change its ticker symbol from "YY" to "JOYY" effective March 31, 2025 [32]

SINGAPORE, March 12, 2025 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ:YY) ("JOYY" or the "Company"), a global technology company, today announced that it plans to release its fourth quarter and full year 2024 financial results after the U.S. market closes on March 19, 2025. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, March 19, 2025 (9:00 AM Singapore/Hong Kong Time on Thursday, March 20, 2025). Details for the conference call are as follows: Event Titl ...

Core Insights - JOYY (NASDAQ: YY) has experienced a rapid transition from a tumultuous period to a positive outlook in recent months, supporting the investment strategy of not overreacting to short-term fluctuations [1] Company Summary - JOYY's recent performance indicates a significant recovery, suggesting potential investment opportunities as the company stabilizes [1]

Investment Rating - The report upgrades the investment rating for the company to "Buy" [2][4][12] Core Views - The completion of the YY Live sale transaction is a significant event, with a total consideration of $2.1 billion, which includes $1.86 billion received in 2021 and an additional $240 million from the recent transaction [7] - The company has over $3.3 billion in net cash on hand, translating to a cash value of $58 per share [7] - The impact of product delisting on Q4 revenue is expected to be limited, with a forecast of a 3% year-on-year decline in revenue and a 10% increase in adjusted operating profit for Q4 [7] - The revenue forecast for Q1 2025 and the full year has been reduced by 7% and 5% respectively due to seasonal impacts and adjustments in non-core voice live streaming business [7] - The valuation has been adjusted to a Sum-of-the-Parts (SOTP) method, raising the target price to $63, indicating a potential upside of 21% from the current price [7] Financial Overview - Revenue is projected to decline from $2,412 million in 2022 to $2,268 million in 2023, with a slight recovery to $2,376 million by 2026 [3][14] - Net profit is expected to increase from $199 million in 2022 to $293 million in 2023, with a gradual increase to $282 million by 2026 [3][14] - The earnings per share (EPS) is forecasted to rise from $2.54 in 2022 to $4.16 in 2023, reaching $5.84 by 2026 [3][14] - The company maintains a healthy balance sheet with a projected cash and cash equivalents of $1,597 million in 2025 [14][15] Market Performance - The stock closed at $52.08 with a target price of $63.00, reflecting a potential upside of 21% [1][12] - The stock has shown a year-to-date change of 24.44% [6]

Group 1 - JOYY Inc. has entered into agreements with Baidu, Inc. for the sale of its video-based entertainment live streaming business in mainland China, known as YY Live, for an aggregate purchase price of approximately US$2.1 billion in cash [1] - The company previously received approximately US$1.86 billion in February 2021 and has now received an additional cash consideration of approximately US$240 million [1] Group 2 - JOYY is a leading global technology company focused on enriching lives through technology, operating several social products including Bigo Live, Likee, and Hago [2] - JOYY's American Depositary Shares (ADSs) have been listed on NASDAQ since November 2012 [2]

Financial Data and Key Metrics Changes - In Q3 2024, total net revenues were $558.7 million, a decrease from $567.1 million in the same period last year [28] - BIGO segment revenues were $496 million, showing a slight year-over-year increase [28] - Group non-GAAP operating profit was $34.9 million, up 16.4% quarter-over-quarter [6][33] - GAAP net income attributable to controlling interest was $60.6 million, down from $72.9 million in the same period of 2023 [33] - Group's non-GAAP net income margin was 10.9%, compared to 14.3% in the same period of 2023 [36] Business Line Data and Key Metrics Changes - BIGO's non-livestreaming revenue grew 15.5% quarter-over-quarter to $78.2 million, primarily driven by advertising [14] - Likee's advertising revenue increased 33.4% year-over-year, maintaining profitability [20] - Hago's total revenue grew 6.1% quarter-over-quarter, with improved monetization metrics [23] Market Data and Key Metrics Changes - Revenues from developed countries increased by 21.6% year-over-year, contributing 54.9% to group revenue [62] - Revenues from the Middle East region grew by 2.1% quarter-over-quarter, indicating a rebound [62] Company Strategy and Development Direction - The company is focused on optimizing products, deepening market penetration in developed countries, and enhancing global operational capabilities [5] - A globalization strategy is being advanced, enriching user interactions and content offerings [7] - The company aims to diversify revenue streams, with non-livestreaming revenue growing 13.1% sequentially [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that adjustments to content costs and features of non-core products may negatively impact revenues in Q4 [38] - The company expects BIGO's paying users to gradually return to growth in 2025, alongside stabilizing ARPPU [48] - The focus on high-quality premium users is expected to enhance long-term sustainable growth [50] Other Important Information - The company repurchased approximately $117.8 million worth of shares in Q3, totaling $243.7 million for the first three quarters of 2024 [37] - The balance sheet remains healthy with a strong net cash position of $3.3 billion as of September 30, 2024 [36] Q&A Session Summary Question: 2025 outlook on user and revenue trends - Management noted that BIGO's non-livestreaming revenue continued to grow, while live streaming revenue experienced a decline due to content cost optimization and adjustments to non-core products [44][45] - They expect BIGO's paying users to return to growth in 2025, with non-livestreaming revenue maintaining double-digit growth [48][49] Question: General monetization trends across key regions in FY 2025 - Developed countries are expected to continue providing growth momentum, with a focus on high monetization potential regions [62] Question: Progress in capital return and share repurchase program - The company has been active in shareholder return initiatives, repurchasing 12% of total shares outstanding as of the end of last year [68] Question: Outlook for advertising and new initiatives into 2025 - BIGO's advertising revenue showed robust growth, with Likee's advertising revenue growing significantly [72] - Future growth will depend on expanding DAU and refining operations to increase market share [75]

Financial Performance - Net revenues for the third quarter of 2024 were US$558.7 million, a decrease of 1.4% from US$567.1 million in the same period of 2023[9]. - Gross profit was US$208.1 million with a gross margin of 37.3%, compared to US$209.2 million and 36.9% respectively in the third quarter of 2023[2]. - Non-GAAP net income attributable to controlling interest was US$61.2 million, down from US$81.2 million in the same period of 2023, resulting in a non-GAAP net income margin of 10.9%[6]. - Operating income was US$16.4 million, with an operating income margin of 2.9%, compared to US$12.0 million and 2.1% in the same period of 2023[16]. - JOYY reported a net income of $63,279,000 for the three months ended September 30, 2024, compared to a net loss of $7,325,000 for the same period in 2023[71]. - JOYY's diluted net income per ADS for the three months ended September 30, 2024, was $1.05, down from $1.86 in the same period of 2023[67]. User Metrics - Average mobile MAUs for Bigo Live decreased to 36.5 million from 40.3 million year-over-year, while Likee's MAUs fell to 33.9 million from 41.0 million[10]. - The total number of paying users for BIGO was 1.62 million, slightly up from 1.61 million in the corresponding period of 2023[10]. - The number of paying users is calculated based on cumulative registered user accounts that have made purchases on Bigo Live, Likee, or imo at least once during the relevant period[43]. Revenue Breakdown - Other revenues increased by 67.2% to US$119.2 million, driven by substantial growth in advertisement revenues[13]. - Live streaming revenues increased to $495.801 million for the three months ended September 30, 2023, compared to $439.482 million in the same period of 2024, reflecting a growth of 12.8%[47]. - Total net revenues for JOYY in the three months ended September 30, 2024, were $558,654,000, with live streaming contributing $439,482,000[71]. Cash and Assets - As of September 30, 2024, the company had net cash of US$3,302.1 million, down from US$3,357.9 million at the end of 2023[17]. - As of September 30, 2024, total current assets decreased to US$3,287.2 million from US$4,072.6 million as of December 31, 2023, representing a decline of approximately 19.3%[45]. - Cash and cash equivalents decreased to US$481.8 million as of September 30, 2024, down from US$1,064.0 million as of December 31, 2023, a decline of approximately 54.7%[45]. - Total liabilities decreased to US$2,770.1 million as of September 30, 2024, from US$3,171.7 million as of December 31, 2023, a reduction of about 12.6%[46]. - The Company’s total assets decreased to US$8,080.1 million as of September 30, 2024, from US$8,483.9 million as of December 31, 2023, reflecting a decline of approximately 4.8%[45]. Strategic Plans and Future Outlook - The Company has ongoing strategic plans that include potential market expansion and new product development, although specific details were not disclosed in the call[39]. - The Company emphasized the importance of user monetization and growth in active users as part of its future business development strategy[39]. - Future outlook includes continued investment in research and development, particularly in new technologies and products to enhance user engagement[78]. - The company is focusing on market expansion strategies, particularly in the live streaming segment, to drive revenue growth[78]. Shareholder Actions - The company repurchased US$117.8 million worth of shares during the quarter as part of its share repurchase program[11]. - During Q3 2024, the Company repurchased 3.43 million ADSs for a total of US$117.8 million, bringing the total repurchased in the first three quarters of 2024 to 7.31 million ADSs for US$243.7 million[35]. - JOYY's shareholders' equity as of September 30, 2024, was $23,333,000, compared to $22,133,000 as of December 31, 2023[64]. Research and Development - Research and development expenses for the three months ended September 30, 2023, were $71.608 million, slightly down from $72.360 million in the same period of 2024[47]. - Research and development expenses for the three months ended September 30, 2024, totaled $72,360,000, reflecting an increase in investment in new technologies[71].