Financial Performance - Net revenues for the second quarter of 2024 were US$565.1 million, an increase from US$547.3 million in the same period of 2023, representing a year-over-year growth of 3.3% [2][5] - Net income attributable to controlling interest was US$52.1 million, down from US$155.1 million in the corresponding period of 2023, reflecting a significant decline of 66.5% [2][10] - Non-GAAP net income attributable to controlling interest and common shareholders was US$74.0 million, compared to US$97.3 million in the same period of 2023, a decrease of 23.9% [2][10] Operational Highlights - Average mobile monthly active users (MAUs) for Bigo Live were 37.7 million, down from 38.5 million in the same period of 2023 [3] - Average mobile MAUs for Likee decreased to 35.6 million from 43.2 million, primarily due to disciplined spending on user acquisition [3] - The total number of paying users for BIGO increased to 1.66 million, up from 1.53 million in the corresponding period of 2023 [3] Revenue Breakdown - Live streaming revenues were US$459.7 million, a decrease from US$477.0 million in the same period of 2023 [5] - Other revenues saw a substantial increase of 49.8%, reaching US$105.4 million compared to US$70.4 million in the same period of 2023, driven by growth in advertisement revenues [5] Cost and Profitability - Cost of revenues increased by 4.8% to US$366.2 million from US$349.6 million in the corresponding period of 2023 [6] - Gross profit was US$198.9 million, slightly up from US$197.8 million in the same period of 2023, with a gross margin of 35.2% compared to 36.1% [7] - Operating income was US$2.3 million, down from US$9.4 million in the same period of 2023, resulting in an operating income margin of 0.4% [8][9] Shareholder Returns - The company repurchased US$71.4 million worth of its shares during the quarter as part of its ongoing share repurchase program [4][16] - The board has authorized an extension of the share repurchase program for another 12 months, allowing for up to US$400 million in additional repurchases [16] Business Outlook - For the third quarter of 2024, the company expects net revenues to be between US$555 million and US$569 million, reflecting current market conditions and operational strategies [14]

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 ...

Core Viewpoint - JOYY Inc. has announced a leadership succession plan, with Ms. Ting Li taking over as Chairperson and CEO from Mr. David Xueling Li, who will remain on the Board to support ongoing business momentum [1][2]. Group 1: Leadership Transition - Ms. Ting Li has been appointed as Chairperson and CEO effective immediately, having served as Chief Operating Officer since 2016 and joined the Board in November 2023 [1][2]. - Mr. David Xueling Li emphasized the importance of this transition, stating that it is an optimal time for leadership change as the company is well-positioned for future growth [2]. Group 2: Strategic Vision - The company aims to diversify its revenue streams and seize new growth opportunities through robust localized operations and continuous innovation [2]. - Ms. Ting Li expressed commitment to nurturing JOYY's content and social entertainment ecosystems while reinforcing its market position [2]. Group 3: Company Overview - JOYY Inc. is a leading global technology company operating several social products, including Bigo Live, Likee, and Hago, and has created a vibrant user community worldwide [3]. - JOYY's American Depositary Shares (ADSs) have been listed on NASDAQ since November 2012 [3].

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].

2024 年 5 月 30 日 CMB 国际全球市场 | 股票研究 | 公司更新 JOYY Inc (YY US) 超越 2Q24E 的温和季节性 目标价 47.00 美元 JOYY 在第 1 季度表现乐观，但在第 2 季度的收入指导略低于市场预期 2% 。鉴于直播的季 （ 以前的 TP 为 50.50 美元 ） 节性疲软，我们预计第二季度总收入同比增长 1.2%，调整。净利润为 5000 万美元。我们估 涨 / 跌 50.0% 计 Bigo 的广告增加将部分抵消直播的柔软度。对于 Bigo 直播业务，美国和东南亚市场的势 头趋势良好，而中东的复苏需要更多时间。对于 FY24E，我们对集团收入保持乐观，以恢复 现价 31.33 美元中国娱乐 正增长，但略有削减 FY24E 调整。净利润为 2.42 亿美元，以反映 Hello 影响和较低的利息 苏菲黄 收入。我们将 FY24 - 26E 净利润预测下调 12% - 14% 。以低于 SOTP 的 TP 维持买入 47 美 (852) 3900 0889 元。  1Q24 乐观 ， 但 2Q24 指导疲软。第 1 季度收入同比下降 3.3% ， 高于市场预期 ...

M N 30 May 2024 CMB International Global Markets | Equity Research | Company Update JOYY Inc (YY US) Looking beyond 2Q24E’s soft seasonality Target Price US$47.00 JOYY delivered an upbeat 1Q24, but revenue guidance for 2Q24E slightly (Previous TP US$50.50) missed consensus by 2%. Given soft seasonality of livestreaming, we Up/Downside 50.0% expect total revenue +1.2% YoY in 2Q24E, with adj. net profit at US$50mn. Current Price US$31.33 We estimate Bigo’s ramp-up of ads would partly offset livestreaming soft ...

Call Start: 21:00 January 1, 0000 9:53 PM ET JOYY, Inc. (NASDAQ:YY) Q1 2024 Earnings Conference Call May 29, 2024, 21:00 ET Company Participants Jane Xie - IR Senior Manager David Li - Co-Founder, Chairman & CEO Alex Liu - VP, Finance Conference Call Participants Henry Sun - JPMorgan Chase & Co. Alex Poon - Morgan Stanley Lei Zhang - Bank of America Merrill Lynch Yiwen Zhang - China Renaissance Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to the JOYY Inc.'s First Quarter ...