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Mar 31, 2025
JOYY Q1 2025 Earnings Report
JOYY delivered stable net income and strong growth in its non-livestreaming business during Q1 2025.
Key Takeaways
JOYY posted $494.4M in revenue and $45.4M in net income. Non-livestreaming revenue surged, while global MAUs declined slightly due to strategic marketing adjustments.
Net income from continuing operations remained steady at $45.4M.
Non-livestreaming revenue grew 25.3% YoY to $123.0M.
Operating income rose 244.5% YoY to $12.2M.
Global MAUs declined to 260.4M due to reduced ad spending.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
JOYY expects Q2 2025 revenue to range between $499M and $519M amid macroeconomic uncertainties.
Positive Outlook
- Revenue guidance up to $519M for Q2 2025
- Strong momentum in non-livestreaming (BIGO Ads)
- Increased gross margin to 36.1%
- Disciplined cost control measures
- AI-driven ad targeting improvements
Challenges Ahead
- Decline in global MAUs
- Lower ARPPU from BIGO
- Reduced number of paying users
- Continued weakness in Middle East and China
- Macroeconomic uncertainty remains a risk
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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