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Jun 30
JOYY Q2 2025 Earnings Report
JOYY reported steady profitability and growth in its advertising segment in Q2 2025.
Key Takeaways
JOYY posted a net income of $60.8M and revenues of $507.8M for Q2 2025, with strong growth in its non-livestreaming segment and higher operating efficiency.
Net income rose to $60.8M from $52.1M YoY.
Non-GAAP net income reached $77.0M.
Non-livestreaming revenue surged 25.6% YoY, led by BIGO Ads.
Total global mobile MAUs declined due to marketing strategy adjustments.
JOYY
JOYY
JOYY Revenue by Segment
JOYY Revenue by Geographic Location
Revenue by Segment
Live streaming Revenue
CapyFin.comOther revenues Revenue
CapyFin.comRevenue by Geographic Location
Developed countries Revenue
CapyFin.comMiddle East Revenue
CapyFin.comMainland China Revenue
CapyFin.comSE Asia & Others Revenue
CapyFin.com Forward Guidance
JOYY expects Q3 2025 revenue to range between $525M and $539M, citing strong advertiser momentum and improved campaign performance.
Positive Outlook
- Revenue guidance up to $539M for Q3 2025
- BIGO Ads posted ~29% YoY growth
- Third-party ad network revenue grew mid-double digits
- Improved ROI in advertising operations
- Global tech infrastructure and ecosystem expansion
Challenges Ahead
- Ongoing macroeconomic uncertainties
- Decline in global MAUs
- Lower ARPPU for BIGO
- Softness in Middle East and China regions
- Reduced paying user count across platforms
Revenue & Expenses
Visualization of income flow from segment revenue to net income