Joyy Inc - YY STOCK NEWS

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.

JOYY Inc. (NASDAQ: YY) reported a strong Q2 2021, with net revenues rising by 39.7% to US$661.7 million from US$473.5 million year-over-year. Despite a net loss of US$109.3 million, the non-GAAP net loss significantly narrowed to US$0.5 million. The decrease in global average mobile MAUs was 26.0%, largely due to Indian government restrictions on Chinese apps. Notably, BIGO turned a profit, contributing to revenue growth. The company forecasts Q3 revenues between US$608 million and US$635 million, a 13.7% to 18.7% year-over-year increase.

Yalla (NYSE:YALA) and Newborn Town are rapidly emerging players in the global app market, challenging established U.S. companies. A recent report highlights three key advantages for these Chinese firms. Firstly, China's lead in AI and big data provides a wealth of user data, driving innovative app development. Secondly, their expertise in global localization positions them well in developing markets, particularly the Middle East. Lastly, lower labor costs give Chinese companies a competitive edge in app development efficiency and profitability.

JOYY Inc. (NASDAQ: YY) will release its Q2 2021 financial results on August 18, 2021, after market close. The management will host an earnings call at 9:00 PM ET, providing details for participants to register online due to COVID-19 restrictions. The earnings call will be accessible via a live and archived webcast on the company's investor relations website. JOYY operates various video-based social media products including Bigo Live and Likee, aiming to connect users through real-time interactions.

JOYY Inc. (NASDAQ: YY) announced its Q1 2021 financial results, reporting a net revenue increase of 88.1% to US$643.1 million, driven largely by BIGO's performance. The net loss attributable to controlling interest rose to US$87.3 million while non-GAAP net loss decreased by 62.7% to US$24.1 million. The company experienced a 15.1% drop in global mobile MAUs primarily due to regulatory challenges in India. Looking ahead, JOYY forecasts Q2 2021 revenues between US$645 million and US$663 million, reflecting a year-over-year growth of 36.2% to 40.0%.