JOYY's First Quarter 2025 Financial Performance Detailed
JOYY Reports Impressive First Quarter 2025 Financial Results
JOYY Inc. (NASDAQ: JOYY), a global leader in technology, has released its unaudited financial results for the first quarter of 2025, unveiling a diverse set of metrics that highlight its ongoing operational adjustments and growth prospects. The company reported a total revenue of US$494.4 million, marking a decrease from US$564.6 million in Q1 2024. This shift reflects the company's targeted optimization of sales and marketing strategies.
Financial Highlights for Q1 2025
The financial outcomes for the first quarter encompass several noteworthy elements. Firstly, net income from continuing operations attributable to JOYY was reported at US$45.4 million, slightly up from the previous year’s figure of US$45.3 million. In contrast, the non-GAAP net income from continuing operations attributable to common shareholders reached US$63.2 million, down from US$67.2 million in the same period last year.
Operational Performance
The average number of mobile monthly active users (MAUs) globally was approximately 260.4 million, compared to 277.3 million in the same quarter of 2024. This decrease was primarily due to JOYY's more disciplined advertising approach and a refined focus on return-on-investment across various product lines.
Performance by Product Lines
Delving deeper, Bigo Live accounted for an average of 28.9 million mobile MAUs, down from 37.1 million year-over-year, while Likee saw a similar decline from 37.5 million to 30.2 million mobile MAUs. Additionally, Hago recorded an average of 3.3 million mobile MAUs, also down from 4.5 million.
Improved Profit Margins and Shareholder Returns
JOYY's chairperson and CEO, Ms. Ting Li, emphasized the importance of non-livestreaming revenues reaching US$123 million, representing a remarkable 25.3% year-over-year increase. This growth illustrates significant progress in JOYY's diversification strategy, with non-livestreaming revenues now contributing 24.9% to the company's total.
Financial Summary and Forecast
As JOYY continues to navigate its operational ecosystem, its gross profit stood at US$178.6 million, compared to US$195.4 million in the previous year, marking a decrease in profit margins. Operating expenses fell to US$167.2 million from US$195.4 million as the firm intensifies efforts on cost control and efficiency.
Looking ahead, JOYY predicts second quarter 2025 revenues between US$499 million and US$519 million, signaling a cautiously optimistic approach despite existing uncertainties in the market.
Share Repurchase and Dividend Programs
In terms of shareholder value, JOYY confirmed it distributed approximately US$49.1 million in dividends and repurchased roughly US$22.5 million worth of shares in the specified period. Furthermore, a quarterly dividend program has been authorized to distribute about US$600 million over the next three years, demonstrating JOYY’s commitment to maximizing shareholder returns.
2025 Growth Trajectory
With its 20th anniversary on the horizon, JOYY is poised for growth beyond social entertainment through strategic focus on its multi-engine growth agenda. Innovations in its programmatic advertising platform, BIGO Ads, are expected to enhance competitive advantages, offering exciting prospects as JOYY strengthens its market position and aims to generate lasting value for its shareholders.
Frequently Asked Questions
What were JOYY's total revenues for Q1 2025?
JOYY reported total revenues of US$494.4 million for Q1 2025.
How did the net income compare to the previous year?
Net income was very close to the prior year, with US$45.4 million in 2025 compared to US$45.3 million in Q1 2024.
What strategies is JOYY implementing for future growth?
JOYY is focusing on a multi-engine growth system, including enhancements to their programmatic advertising platform and strategic diversification of revenue streams.
How much did JOYY repurchase in its share buyback program?
As of May 23, 2025, JOYY repurchased approximately US$22.5 million worth of shares.
What is the outlook for Q2 2025?
JOYY anticipates revenues between US$499 million and US$519 million for the second quarter of 2025.
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