Core Insights - JOYY reported Q2 2025 net revenue of $507.8 million, a 10% year-over-year decline [1] - Non-GAAP net profit attributable to JOYY's shareholders was $77 million, up from $74 million in the same period last year, with diluted earnings per ADS at $1.44 compared to $1.17 [1] - Q2 live streaming revenue was $375.4 million, down 18% from $459.7 million year-over-year, while other business revenue increased by 25.6% to $132.4 million [1] User Metrics - Global average monthly active users (MAU) were 262.5 million, down from 275.2 million year-over-year [1] - BigoLive's average mobile MAU decreased to 29.6 million from 37.7 million [1] - Likee's average mobile MAU fell to 28.5 million from 35.6 million, and Hago's average mobile MAU dropped to 3 million from 4.4 million [1] Paid Users and Revenue Metrics - Total paid users for BIGO (including BigoLive, Likee, and imo) were 1.5 million, down from 1.66 million year-over-year [1] - Average revenue per paid user (ARPPU) for BIGO was $215.2, compared to $233.5 in the previous year [1] Future Outlook - JOYY expects Q3 2025 revenue to be between $525 million and $539 million [2]