JOYY Inc Earnings Recaps
Q2 2026
Aug 28, 2026
JOYY’s shares rose modestly by 1.8% post-earnings, reflecting a solid but unspectacular quarter with steady revenue growth and improving profitability, though investor enthusiasm appears tempered by the absence of breakout catalysts.
Key takeaways
- Total revenue reached $591 million, up 16.3% year-over-year and 6.3% quarter-over-quarter.
- Social Entertainment revenue increased 7.4% year-on-year, supported by 5.6% sequential growth and improving live streaming user metrics (3.9% paying user growth YoY).
- BIGO Ads segment showed strong momentum with 53.1% revenue growth year-over-year and a 74.1% increase in third-party audience network revenue.
- Non-GAAP operating profit rose 28.2% year-over-year to $49 million, while non-GAAP EBITDA grew 18.1% to $57 million.
- The company generated $65 million in operating cash flow and maintained a robust net cash position of $3.06 billion, continuing an aggressive shareholder return program with $359 million distributed through buybacks and dividends year-to-date.
Q1 2026
May 28, 2026
JOYY’s shares surged 17.8% following a quarter that delivered significant upside driven primarily by the strong acceleration in its BIGO Ads segment, which far outpaced growth in its foundational Social Entertainment business. The outsized market reaction highlights that investors are betting on BIGO Ads' accelerating momentum and the promising integration of AI-enabled initiatives across JOYY’s business segments.
Key takeaways
- Total revenue reached $556 million, representing a 12.4% year-over-year increase, marking a solid growth trajectory overall.
- BIGO Ads delivered $125 million in revenue, a standout 55.6% year-over-year jump, with third-party network revenue soaring 78.8%.
- Social Entertainment returned to growth with revenue up 3.2%, driven by 5.9% growth in core live streaming paying users and a 6.1% increase in mobile MAUs.
- Non-GAAP operating profit rose 22.5% to $38 million, while EBITDA increased 13.2% to $46 million, supporting improved profitability.
- Management announced an aggressive $1.5 billion shareholder return program reflecting confidence in its long-term prospects, including $600 million in potential buybacks and $900 million in dividends.