JOYY Inc (NASDAQ:YY) Q2 2024 Results Conference Call August 27, 2024 9:00 PM ET Company Participants Tingzhen Xie - Investor Relations Senior Manager Ting Li - Chairperson of the Board & CEO Xueling Li - Co-Founder & Former Director Fuyong Liu - Vice President of Finance Conference Call Participants Thomas Chong - Jefferies Lei Zhang - Bank of America Brian Gong - Citi Operator Ladies and gentlemen, thank you for standing by, and welcome to the JOYY Inc.'s Second Quarter 2024 Earnings Call. [Operator Instru ...

Exhibit 99.1 JOYY Reports First Quarter 2024 Unaudited Financial Results Singapore, May 29, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global technology company, today announced its unaudited financial results for the first quarter of 2024. First Quarter 2024 Financial Highlights ● Net revenues were US$564.6 million, compared to US$583.6 million in the corresponding period of 2023. ● Net income attributable to controlling interest of JOYY was US$45.3 million, compared to US ...

SINGAPORE, Aug. 27, 2024 /PRNewswire/ -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the second quarter of 2024.During the second quarter, JOYY's revenue came in at US$565.1 million, a year-over-year increase of 3.3%. The Company's core business segment BIGO continued its topline recovery trend for the fourth consecutive quarter, generating revenues of US$507.2 million, a year-over-year increase of 7.7%. JOYY recorded n ...

SINGAPORE, Aug. 28, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced its unaudited financial results for the second quarter of 2024. Second Quarter 2024 Financial Highlights1 Net revenues were US$565.1 million, compared to US$547.3 million in the corresponding period of 2023.Net income attributable to controlling interest of JOYY2 was US$52.1 million, compared to US$155.1 million in the corresponding period of 2023.Non-GAAP net income at ...

SINGAPORE, Aug. 03, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ:YY) ("JOYY" or the "Company"), a global technology company, today announced that its board of directors (the "Board") has approved a carefully planned leadership succession. Ms. Ting Li, currently Director and Chief Operating Officer of the Company, will succeed Mr. David Xueling Li as Chairperson of the Board ("Chairperson") and Chief Executive Officer ("CEO"), effective immediately. Mr. David Xueling Li will continue serving as a member of the ...

SINGAPORE, Aug. 03, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (Nasdaq: YY) (“JOYY” or the “Company”), a global technology company, today announced that its board of directors (the “Board”) has approved a carefully planned leadership succession. Ms. Ting Li, currently Director and Chief Operating Officer of the Company, will succeed Mr. David Xueling Li as Chairperson of the Board (“Chairperson”) and Chief Executive Officer (“CEO”), effective immediately. Mr. David Xueling Li will continue serving as a member of th ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key ...

SINGAPORE, June 14, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (Nasdaq: YY) (“JOYY” or the “Company”), a global technology company, today announced the results of its previously announced repurchase right offer relating to its 1.375% Convertible Senior Notes due 2026 (CUSIP No. 98426T AF3) (the “2026 Notes”). The repurchase right offer expired at 5:00 p.m., New York City time, on Thursday, June 13, 2024. Based on information from Citibank, N.A. as the paying agent for the 2026 Notes, US$405,445,000 aggregate princi ...

SINGAPORE, June 14, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ:YY) ("JOYY" or the "Company"), a global technology company, today announced the results of its previously announced repurchase right offer relating to its 1.375% Convertible Senior Notes due 2026 (CUSIP No. 98426T AF3) (the "2026 Notes"). The repurchase right offer expired at 5:00 p.m., New York City time, on Thursday, June 13, 2024. Based on information from Citibank, N.A. as the paying agent for the 2026 Notes, US$405,445,000 aggregate princip ...

Investment Rating - The report assigns a "Neutral" investment rating to the company, YY US, with a target price of $33.00, indicating a potential upside of 1.1% from the current closing price of $32.65 [1][17]. Core Insights - The company's core products are showing signs of recovery, although short-term profit growth is under pressure. In Q1 2024, YY US reported revenues of $570 million, a year-on-year decrease of 3% but slightly above expectations. Adjusted operating profit was $25 million, compared to $28 million in the same period last year, and adjusted net profit was $67 million, up 35% year-on-year, exceeding both internal and market expectations [1][2]. Financial Performance Summary - Q1 2024 revenue was $570 million, slightly above the forecast of $550 million, with a year-on-year decline of 3% and a quarter-on-quarter increase of 1% [1][13]. - Adjusted net profit for Q1 2024 was $67 million, a 35% increase year-on-year, surpassing expectations of $52 million [1][2]. - The company’s BIGO segment saw revenue growth of 8% year-on-year, driven by an increase in paying users and a significant rise in non-live revenue, which grew by 195% [2][3]. - The management has guided for Q2 2024 revenue to be between $538 million and $569 million, aligning closely with market expectations [2][3]. Valuation and Market Sentiment - The target price has been revised down to $33 from $37, reflecting a 9x P/E ratio for 2024. The company has been actively repurchasing shares, with $54.5 million allocated for buybacks in Q1 2024 [2][3]. - Despite the recovery in core business, short-term profit growth is expected to be constrained, particularly due to the impact of Baidu's termination of the YY Live transaction on investor sentiment [2][3]. Financial Forecasts - Revenue projections for 2024 are set at $2.288 billion, with a slight year-on-year growth of 0.9%. Net profit is expected to decline by 17% to $240 million [3][18]. - The company anticipates a gradual recovery in its core business, with adjusted net profit forecasts for 2024 being revised down by 10% to $240 million [2][3].