JOYY Inc

Latest Results (11.10.2025):

In the second quarter of 2025, JOYY Inc. reported a slight decrease in net revenues to US$507.8 million compared to US$565.1 million in the same period last year. Despite this decline, the company achieved significant growth in operating income, non-GAAP EBITDA, and net income, reflecting enhanced operational efficiency and robust performance in its non-livestreaming segments.

Revenue Breakdown

JOYY Inc.'s live streaming revenues decreased to US$375.4 million from US$459.7 million year-over-year, primarily due to a reduction in paying users and average revenue per paying user (ARPPU). However, non-livestreaming revenues surged by 25.6% to US$132.4 million, driven by substantial growth in advertising revenues.

Operational Efficiency

Operating income rose significantly to US$5.8 million from US$2.3 million year-over-year, marking a 155.4% increase. Additionally, non-GAAP EBITDA improved to US$48.2 million, up 25.7% compared to the same quarter last year, underscoring JOYY's focus on disciplined spending and enhanced operational execution.

User Engagement Metrics

Global average mobile Monthly Active Users (MAUs) declined to 262.5 million from 275.2 million in Q2 2024, due to strategic optimization of sales and marketing efforts. Specific platforms saw decreases in MAUs, with Bigo Live at 29.6 million, Likee at 28.5 million, and Hago at 3.0 million, compared to the previous year.

Shareholder Returns

JOYY Inc. maintained its commitment to shareholder returns by distributing US$98.5 million in dividends and repurchasing US$36.5 million worth of shares during the first half of 2025. The company has authorized a share repurchase program effective until the end of 2027.