Joyy, Inc. ( (JOYY) ) has released its Q1 earnings. Here is a breakdown of the information Joyy, Inc. presented to its investors.
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JOYY Inc. is a global technology company headquartered in Singapore, known for its diverse portfolio of products including live streaming, short-form videos, casual games, and instant messaging, with a strong focus on AI and data-driven technologies. In its first quarter of 2025, JOYY reported net revenues of $494.4 million, a decrease from the previous year’s $564.6 million. Despite the drop in revenue, the company achieved a net income of $45.4 million, slightly up from $45.3 million in the same period last year. The company also highlighted a significant milestone in its diversification strategy, with non-livestreaming revenues reaching $123 million, marking a 25.3% year-over-year increase. JOYY’s financial performance in the first quarter of 2025 was marked by a 14.5% reduction in the cost of revenues, leading to a gross profit of $178.6 million. The company also reported a 244.5% increase in operating income to $12.2 million, driven by optimized sales and marketing strategies. However, the number of global average mobile monthly active users decreased, reflecting a strategic shift towards more disciplined advertising spending. Looking ahead, JOYY remains optimistic about its growth prospects, with expectations of net revenues between $499 million and $519 million for the second quarter of 2025. The company continues to focus on its multi-engine growth strategy, aiming to strengthen its competitive advantages and deliver long-term value to shareholders.