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JOYY Inc. (NASDAQ: YY) is a premier global technology company that has established itself as a leader in the online social entertainment industry. Founded in 2005 and headquartered in Guangzhou, China, JOYY Inc. began as an online games web portal and has since evolved into a multifaceted social media platform. The company engages over 117 million monthly active users through various interactive and immersive applications, including audio, video, and text-based content.
JOYY's core businesses include Bigo Live, a live streaming platform; Likee, a short-form video application; and Hago, a multiplayer social networking app. These platforms allow users to participate in diverse activities such as music shows, online game streaming, and dating programs, offering a richer and more engaging entertainment experience.
In the fiscal year 2023, JOYY reported net revenues of $2.27 billion, with a significant contribution from Bigo Live, which alone generated $1.92 billion. The company has been consistently profitable, demonstrating robust financial health with net profits of $301.8 million for 2023. The company's operating income for the same year was $28.8 million, and it achieved a net income margin of 13.3%.
JOYY continues to prioritize technological innovation, as evidenced by its numerous patent applications and licenses. The company is also expanding its global commerce Software-as-a-Service (SaaS) and solutions sector, continually exploring new growth opportunities to diversify its revenue streams. In 2023, JOYY maintained a disciplined approach toward operational efficiency, which contributed to its sustained profitability.
Recent achievements include the successful hosting of the BIGO Awards Gala in Las Vegas, which attracted over 1.2 million viewers. Bigo Live also recorded a 4.5% year-over-year increase in monthly active users, reaching 38.4 million. Likee achieved profitability for the first time in 2023 thanks to strategic operational and product optimizations, while Hago achieved its first positive operating cash inflow.
The company remains committed to its globalization strategy through localization, focusing on enhancing user experience and engagement across its platforms. JOYY's management continues to drive innovations and optimize operations to ensure long-term sustainable growth. Additionally, the company has executed an extensive share repurchase program, reflecting its confidence in its long-term prospects.
For more detailed and updated information, visit the company’s investor relations website at https://ir.joyy.com.
JOYY Inc. (NASDAQ: YY) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 29, 2022. The report is accessible via the Company's investor relations website. Shareholders can request a hard copy of the annual report containing audited financial statements free of charge. JOYY Inc. is a global leader in social media, operating platforms like Bigo Live and Likee, promoting real-time user interaction through video.
JOYY Inc. (NASDAQ: YY) reported strong financial results for the fourth quarter and full year of 2021. Full-year revenues increased by 36.5% to US$2.619 billion, with fourth-quarter revenues rising 16.8% to US$663.7 million. Non-GAAP net income reached US$108.9 million for the year, marking the first full-year profitability post-deconsolidation of YY Live. JOYY's board has authorized $1.2 billion for share repurchases and paid out $160 million in dividends, highlighting confidence in long-term growth. The company aims to expand its global social entertainment ecosystem in 2022.
JOYY Inc. (YY) reported its 2021 financial results, showing a 36.5% increase in net revenues to US$2,619.1 million, fueled by growth in live streaming services. The fourth quarter revenues rose by 16.8% to US$663.7 million, with net income of US$73.2 million compared to a loss in 2020. Non-GAAP net income for the year was US$108.9 million. The company announced a quarterly dividend of US$0.51 per ADS and plans to repurchase up to US$1 billion in shares. For Q1 2022, it expects revenues between US$601 million and US$616 million.
JOYY Inc. (NASDAQ: YY) will release its fourth quarter and full year 2021 financial results on March 15, 2022, after U.S. market close. An earnings conference call is scheduled for 9:00 PM U.S. Eastern Time the same day, with a pre-registration link for participants. The call will be accessible via the company's investor relations website. JOYY, known for its live media and social interaction products, aims to connect users globally through video. The company was listed on NASDAQ in 2012 and continues to engage a vibrant community worldwide.
JOYY Inc. (NASDAQ: YY) announced that a special resolution was adopted at its annual general meeting on December 27, 2021, in Guangzhou. The resolution allows for the amendment and restatement of the Company’s Memorandum and Articles of Association, resulting in the Third Amended and Restated Memorandum and Articles of Association. JOYY, formerly YY Inc., focuses on video-based social media, with products like Bigo Live and Likee, connecting users worldwide through real-time interaction.
On November 17, 2021, JOYY Inc. (NASDAQ: YY) reported Q3 2021 results with revenues of US$650.5 million, marking a 21.7% year-over-year growth. BIGO contributed US$568.7 million in revenues with a notable non-GAAP net income of US$49.6 million. The company achieved a non-GAAP net income of US$35.1 million for the first time post-deconsolidation. Additionally, a new share repurchase program of US$1 billion was authorized. However, net income from continuing operations dropped to US$7.5 million from US$191 million a year earlier.
JOYY Inc. (NASDAQ: YY) reported a 21.7% increase in third-quarter 2021 net revenues, totaling US$650.5 million, up from US$534.4 million in Q3 2020. However, net income from continuing operations dropped to US$7.5 million from US$191.0 million the previous year. The company achieved non-GAAP net income of US$35.1 million, a turnaround from a loss of US$26.6 million in Q3 2020, aided by growth in BIGO's profitability. Despite challenges in user acquisition and a 17.2% decrease in global mobile MAUs, JOYY maintains a strong financial outlook with Q4 revenue expected between US$652 million and US$661 million.
JOYY Inc. (NASDAQ: YY) announces its 2021 annual general meeting (AGM) scheduled for December 27, 2021, in Guangzhou, China. Shareholders of record by November 18, 2021, can vote on an amendment to the company's Memorandum and Articles of Association. The board recommends approval of this resolution. The AGM notice is available on the company's website and SEC’s site. JOYY has also filed its annual report with audited financials for the fiscal year ending December 31, 2020. Shareholders can request a hard copy of the report. JOYY focuses on global social media interactions through live streaming and video products.
JOYY Inc. (NASDAQ: YY) announced its plans to release third-quarter 2021 financial results on November 17, 2021, after U.S. market hours. An earnings conference call is scheduled for the same day at 9:00 PM ET, with a live webcast available on JOYY's investor relations website. Due to COVID-19, the call will not have operator assistance, requiring online registration. JOYY is a prominent global social media company, operating platforms like Bigo Live and Likee, aimed at enhancing user interaction through video.
JOYY Inc. (NASDAQ: YY) has announced a new share repurchase plan, allowing the company to repurchase up to US$200 million of its own shares within the next 12 months. These buybacks will be conducted through various legally permissible methods based on market conditions. The Company plans to fund these repurchases from existing funds, demonstrating confidence in its financial position and potential future performance.
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