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JOYY Reports Fourth Quarter and Full Year 2023 Unaudited Financial Results

Retrieved on: 
Monday, March 18, 2024
Bigo Live, Growth, ADS10, Sale, Acquisition, ADS, Hago, Direct, Investment, YY, Maus, Likee, Share repurchase, Marketing, Advertising, Video game

SINGAPORE, March 19, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced its unaudited financial results for the fourth quarter and full year of 2023.

Key Points: 
  • SINGAPORE, March 19, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced its unaudited financial results for the fourth quarter and full year of 2023.
  • Gross profit was US$201.5 million in the fourth quarter of 2023, compared to US$212.3 million in the corresponding period of 2022.
  • Gross margin was 35.4% in the fourth quarter of 2023, compared to 35.1% in the corresponding period of 2022.
  • Operating expenses were US$199.4 million in the fourth quarter of 2023, compared to US$231.2 million in the corresponding period of 2022.

JOYY Reports Fourth Quarter and Full Year 2023 Financial Results: Third Consecutive Year of Profitability, Global MAU Resumes Growth

Retrieved on: 
Tuesday, March 19, 2024
Bigo Live, Algorithm, Growth, Social, UGC, MAU, PUGC, Hago, Shithead (card game), YY, Maus, Ecosystem, GAAP, Social networking service, Multimedia, Video game

Due to continued optimization of operational efficiencies and strong execution, JOYY delivered continued profitability for the third consecutive year.

Key Points: 
  • Due to continued optimization of operational efficiencies and strong execution, JOYY delivered continued profitability for the third consecutive year.
  • From 2020 to 2023, JOYY has in total distributed approximately US$1.38 billion in capital returns.
  • Mr. David Xueling Li, Chairman and Chief Executive Officer of JOYY, commented, "2023 proved to be a year of progress.
  • In the fourth quarter, Bigo Live maintained its user growth momentum, with MAUs increasing by 4.5% year over year to 38.4 million.

JOYY to Announce Fourth Quarter and Full Year 2023 Financial Results on March 18, 2024

Retrieved on: 
Thursday, March 7, 2024
YY, Direct

SINGAPORE, March 07, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced that it plans to release its fourth quarter and full year 2023 financial results after the U.S. market closes on March 18, 2024.

Key Points: 
  • SINGAPORE, March 07, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced that it plans to release its fourth quarter and full year 2023 financial results after the U.S. market closes on March 18, 2024.
  • The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Monday, March 18, 2024 (9:00 AM Singapore/Hong Kong Time on Tuesday, March 19, 2024).
  • Upon registration, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique PIN by email.
  • The replay will be accessible through March 26, 2024, by dialing the following numbers:

JOYY Announces Latest Development in Sale of YY Live

Retrieved on: 
Monday, January 1, 2024
Sale, YY, Notice

SINGAPORE, Jan. 01, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, announced that the Company received a written notice (the “Notice”) from an affiliate of Baidu, Inc. (“Baidu”) today purporting to terminate the Share Purchase Agreement, dated November 16, 2020 (as subsequently amended or supplemented, the “Share Purchase Agreement”), pursuant to which Baidu would acquire JOYY’s domestic video-based entertainment live streaming business (“YY Live”).

Key Points: 
  • SINGAPORE, Jan. 01, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, announced that the Company received a written notice (the “Notice”) from an affiliate of Baidu, Inc. (“Baidu”) today purporting to terminate the Share Purchase Agreement, dated November 16, 2020 (as subsequently amended or supplemented, the “Share Purchase Agreement”), pursuant to which Baidu would acquire JOYY’s domestic video-based entertainment live streaming business (“YY Live”).
  • While the sale of YY Live to Baidu was substantially completed on February 8, 2021, with certain matters remaining to be completed in the future, Baidu asserted in the Notice that it has and exercised the right to terminate the Share Purchase Agreement and effectively cancel the transaction.
  • The Company is seeking legal advice and will consider all options at its disposal in response to the Notice.
  • The Company expressly reserves all rights.

JOYY Reports Third Quarter 2023 Unaudited Financial Results

Retrieved on: 
Thursday, November 30, 2023
ADS, Direct, Marketing, Acquisition, Research, Bigo Live, YY, Advertising, Hago, Share repurchase, ADS10, Investment, Likee, Video game

SINGAPORE, Nov. 30, 2023 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced its unaudited financial results for the third quarter of 2023.

Key Points: 
  • SINGAPORE, Nov. 30, 2023 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced its unaudited financial results for the third quarter of 2023.
  • Gross profit was US$209.2 million in the third quarter of 2023, compared to US$220.2 million in the corresponding period of 2022.
  • Gross margin was 36.9% in the third quarter of 2023, compared to 37.5% in the corresponding period of 2022.
  • Operating expenses were US$191.3 million in the third quarter of 2023, compared to US$202.2 million in the corresponding period of 2022.

JOYY to Announce Third Quarter 2023 Financial Results on November 29, 2023

Retrieved on: 
Monday, November 20, 2023
Direct, YY, Internet service provider

SINGAPORE, Nov. 20, 2023 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced that it plans to release its third quarter 2023 financial results after the U.S. market closes on November 29, 2023.

Key Points: 
  • SINGAPORE, Nov. 20, 2023 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced that it plans to release its third quarter 2023 financial results after the U.S. market closes on November 29, 2023.
  • The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern Time on Wednesday, November 29, 2023 (10:00 AM Singapore/Hong Kong Time on Thursday, November 30, 2023).
  • Upon registration, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique PIN by email.
  • The replay will be accessible through December 7, 2023, by dialing the following numbers:

SignalFire Announces Strategic Growth with the Addition of Nine New Team Members

Retrieved on: 
Monday, November 27, 2023
Technology, Finance, Security, Professional Services, Software, General Health, Data Analytics, Health, Data Management, Artificial Intelligence, Cloud, Acquisition, General counsel, Entrepreneurship, Investment, General Atlantic, Bain, CapitalG, Thoma Bravo, Growth, Veronica, Cloudflare, CVS Health, LP record, Multimedia, Acqui-hiring, Software as a service, Insight Partners, Sauce Labs, Woman, SHRM, Underscore, GTM, Specialist, IPO, SoundCloud, Community, YY, Policy, D1, Wheel, Bain & Company, Intelligence, Cooley LLP, Environment, Management, Security (finance), Video game, Research, Marketing, Boston, Webflow, Principal, Partner, Ecosystem

In addition to welcoming new faces, the firm takes pride in fostering an environment where the team can grow and thrive.

Key Points: 
  • In addition to welcoming new faces, the firm takes pride in fostering an environment where the team can grow and thrive.
  • “I am tremendously proud to welcome these remarkable individuals to the SignalFire family and to be able to grow the careers of our existing team members,” said Chris Farmer, CEO, Partner, and Co-Founder.
  • Lauren Nguyen—Head of Marketing: Prior to joining SignalFire, Lauren built the self-service growth team at Cloudflare responsible for all self-serve revenue across its product portfolio.
  • Prior to SignalFire, she worked on the investment team at Blackstone’s Strategic Opportunity Fund, where she evaluated late-stage and IPO investment opportunities.

JOYY Reports Third Quarter 2023 Results: Profitability Sustains, BIGO Regains Revenue Growth

Retrieved on: 
Thursday, November 30, 2023
Pet, Comics, YY, Bigo Live, Hago, IM, Saudi National Day, Creativity, Social, Average revenue per user, Maus, Multimedia, Growth, Summer Vibe, Bigo, Acting coach, Algorithm, Vidio, GAAP, Friends, Cultural festival (Japan), ACG, AI, Shithead (card game), Bank, Video game, Likee, MENA, Family

SINGAPORE, Nov. 29, 2023 /PRNewswire/ -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the third quarter of 2023.

Key Points: 
  • SINGAPORE, Nov. 29, 2023 /PRNewswire/ -- JOYY Inc. (NASDAQ: YY) ("JOYY" or the "Company"), a global leading technology company, announced its unaudited financial results for the third quarter of 2023.
  • In the first three quarters of 2023, JOYY had returned an aggregate amount of US$355.4 million to its shareholders through dividends and share buybacks.
  • Bigo Live maintained its double-digit user growth momentum in the third quarter, with MAUs increasing by 14% year over year to 40.3 million.
  • During the third quarter, Hago maintained sequential revenue growth, and its operating cash flow remained positive during the quarter.

JOYY Reports Second Quarter 2023 Results: US$155.1 Million Net Profit and Sustained User Growth

Retrieved on: 
Wednesday, August 30, 2023
Social responsibility, YKI, Shithead (card game), Communication, Likee, MAU, Bigo Live, Marketing, Children's Cancer Center of Lebanon, 3D, National Work and Family Month, GAAP, Multimedia, Attention, Internet, YY, Acquisition, Growth, Maus, BAR, Family, Bank, Cryptocurrency, Video game

During the second quarter of 2023, JOYY's total revenues were US$547.3 million, with the BIGO segment's revenue reaching US$471.1 million.

Key Points: 
  • During the second quarter of 2023, JOYY's total revenues were US$547.3 million, with the BIGO segment's revenue reaching US$471.1 million.
  • JOYY recorded net profit and non-GAAP net profit[1] of US$155.1 million and US$97.3 million, with GAAP and non-GAAP net margins[1] of 28.3% and 17.8%, respectively.
  • In addition, JOYY significantly stepped up its share repurchases during the second quarter and bought back an additional US$214.3 million of its shares.
  • Notably, Bigo Live sustained its strong user growth momentum, increasing its MAUs by 18.0% year over year to 38.5 million.

JOYY Reports Second Quarter 2023 Unaudited Financial Results

Retrieved on: 
Wednesday, August 30, 2023
Likee, Bigo Live, Share repurchase, Marketing, ADS, Policy, GAAP, ADS10, Direct, YY, Acquisition, Advertising, Investment, Maus, Research, Cryptocurrency, Bank, Video game, Mobile phone, Beauty salon

SINGAPORE, Aug. 30, 2023 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced its unaudited financial results for the second quarter of 2023.

Key Points: 
  • SINGAPORE, Aug. 30, 2023 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced its unaudited financial results for the second quarter of 2023.
  • Mr. David Xueling Li, Chairman and Chief Executive Officer of JOYY, commented, “Despite ongoing macroeconomic uncertainties, our strong execution enabled us to deliver a solid financial performance in the second quarter.
  • Gross profit was US$197.8 million in the second quarter of 2023, compared to US$218.4 million in the corresponding period of 2022.
  • Operating expenses were US$191.7 million in the second quarter of 2023, compared to US$185.0 million in the corresponding period of 2022.