Group 1: JOYY Overview - JOYY (YY) shares increased by 6.2% to $35.81 in the last trading session, with a higher-than-average trading volume, contrasting with a 0.9% loss over the past four weeks [1] - JOYY benefits from a global user base and a strong portfolio of interactive platforms, including Bigo Live, Likee, and Hago, positioning the company for future growth through innovation and expansion into global commerce SaaS [1] Group 2: Earnings Expectations - JOYY is expected to report quarterly earnings of $0.88 per share, reflecting a year-over-year decline of 27.9%, with revenues projected at $559.97 million, down 1.3% from the previous year [2] - The consensus EPS estimate for JOYY has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [3] Group 3: Industry Comparison - JOYY is part of the Zacks Internet - Services industry, where another company, 21Vianet (VNET), closed 1.7% lower at $3.42, but has returned 4.2% over the past month [3] - For 21Vianet, the consensus EPS estimate has increased by 25% over the past month to $0.03, representing a 150% change from the previous year, and it currently holds a Zacks Rank of 2 (Buy) [4]

Group 1 - JOYY Inc. plans to release its third quarter 2024 financial results after the U.S. market closes on November 26, 2024 [1] - The earnings conference call will be held at 9:00 PM U.S. Eastern Time on November 26, 2024 [1] - Participants can pre-register for the conference call using a provided link and will receive dial-in numbers and a unique PIN via email [2] Group 2 - JOYY is a leading global technology company focused on enriching lives through technology [3] - The company operates several social products, including Bigo Live, Likee, and Hago, creating a vibrant user community globally [3] - JOYY's American Depositary Shares (ADSs) have been listed on NASDAQ since November 2012 [3]

Core Viewpoint - JOYY's stock remains stagnant in the mid $30s, with investor impatience growing due to lack of dividends and updates on the YY Live sale reversal by Baidu [1][2] - The company has a strong cash position, with $2.7 billion in assets exceeding liabilities, which is favorable compared to its $2 billion market cap [1] Financial Performance - JOYY reported a non-GAAP diluted EPS of $1.17, beating estimates by $0.25, although it was down from $1.29 in Q2 2023 [4] - The company generated $71.1 million in net cash from operating activities, an increase from $61.8 million year-over-year but a decrease from $75 million in Q1 [4] - Operating expenses rose to $198.7 million, primarily due to increased general and administrative costs [4] Share Buyback and Debt Management - JOYY increased its share buyback from $54.5 million to $71.4 million, representing 3.9% of ADS, which is significant for shareholder value [8] - The company bought back a $500 million convertible note for $405 million, reducing both cash and debt [3] Regional Performance - Developed markets showed a 32% year-over-year sales increase, now accounting for 54% of overall sales, indicating a shift in focus towards higher-quality earnings [6] - Sales in mainland China decreased by 23% year-over-year, highlighting the challenges in that market [6] New Business Developments - The BIGO Audience Network emerged as a significant growth area, with non-livestreaming BIGO sales increasing by 162% year-over-year [7] - Shopline, an e-commerce platform, is underperforming and lacks growth, leading to a reassessment of its valuation [7] Future Guidance - JOYY guided for Q3 sales between $555 million and $569 million, with expectations to meet the higher end of this range [11] - The company anticipates a slight decline in non-GAAP BIGO operating profits due to adjustments in its audio livestreaming product [11]

交银国际研究 财务模型更新 互联网 2024 年 8 月 28 日 收盘价 目标价 潜在涨幅 美元 33.57 美元 33.00 -1.7% 欢聚集团 (YY US) 2 季度利润超预期；非核心业务调整拖累下半年收入预期 欢聚2季度利润超预期，主要因费用控制好于预期。海外核心产品收入维持同 比增长趋势，短期部分区域内容政策优化及非核心语音业务调整或拖累下半 年收入增长，我们小幅下调 2024 年收入预测，基于好于预期的费用控制，微 调 2024/25 年经调整净利润预期。基于 10 年 DCF，维持 33 美元目标价及中性 评级。 费用优化带动 2 季度利润超预期。欢聚 2024 年 2 季度收入为 5.7 亿美元， 同比+3%/环比持平，略超我们预期2%。BIGO收入同比+8%，直播同比-1%， 核心产品维持同比增长，主要受 MPU 增长驱动。非直播收入中，广告收 入维持快速增长，2 季度 BIGO 收入占比提升至 13.4%。经调整运营利润 3000 万美元，好于我们预期的 2100 万美元，主要因费用控制好于预期。 展望及估值：我们预计 2024 年 BIGO 收入同比+5%，受广告业务拉动延续 增长趋 ...

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 ...

Core Viewpoint - JOYY Inc. reported a solid financial performance in Q2 2024, with a revenue increase driven by its core business segment BIGO, which has shown consistent recovery over the past four quarters [1][2]. Financial Highlights - JOYY's total revenue for Q2 2024 was US$565.1 million, reflecting a year-over-year increase of 3.3% from US$547.3 million in Q2 2023 [3]. - The net income attributable to controlling interest was US$52.1 million, while the non-GAAP net income was US$74.0 million, indicating sequential increases of 15.0% and 10.2% respectively [3]. Business Highlights - BIGO's revenue reached US$507.2 million, marking a 7.7% year-over-year increase and the fourth consecutive quarter of revenue recovery [2][4]. - Bigo Live's monthly active users (MAUs) increased by 1.6% quarter-over-quarter to 37.7 million, with significant growth in developed markets, achieving 9.4% year-over-year growth in MAUs and 20.3% in paying users [4]. - Bigo Live launched innovative marketing initiatives, including a partnership with the Esports World Cup, enhancing user engagement and content diversity [5]. - The Real Match feature on Bigo Live saw a nearly doubled daily active user (DAU) penetration rate, with a 14.9% sequential increase in connections and a 9.4% rise in direct chat messages [6][7]. Likee and Hago Performance - Likee maintained profitability with a 34.7% year-over-year increase in advertising revenue, driven by DAU growth in Europe and creator-centric events [8]. - Hago also sustained positive operating cash flow, engaging over 60% of total paying users through zodiac-themed activities and local traditions for Eid celebrations [9][10].

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].