JOYY ( (YY) ) has provided an update.
JOYY Inc. reported its unaudited financial results for the fourth quarter and full year of 2024, revealing a net revenue of $549.4 million for Q4, a slight decrease from the previous year. The company faced a significant net loss of $304.1 million in Q4, largely due to a $454.9 million non-cash goodwill impairment charge. Despite these challenges, JOYY’s non-GAAP net income increased, and the company improved its operational efficiency, with non-livestreaming revenues growing by 55.9%. The company also repurchased 9.21 million ADS, representing 15.1% of its total shares outstanding, signaling a commitment to returning value to shareholders. JOYY aims to drive diversified growth and enhance user experiences through AI-driven innovation, positioning itself for sustainable global business growth.
More about JOYY
JOYY Inc. is a global technology company based in Singapore, primarily focused on providing live streaming and social media services through platforms like Bigo Live, Likee, and Hago. The company is known for its international reach and commitment to diversifying its revenue streams and enhancing operational efficiency.
YTD Price Performance: 17.85%
Average Trading Volume: 556,069
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $2.57B
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