Joyy reports Q3 adjusted EPS $1.07, consensus 92c

Reports Q3 revenue $558.7M, consensus $562M. Average mobile MAUs of Bigo Live was 36.5 million, compared to 40.3 million in the corresponding period of 2023. Average mobile MAUs of Likee was 33.9 million, compared to 41.0 million in the corresponding period of 2023, primarily due to disciplined spending on user acquisition via advertisement. Average mobile MAUs of Hago was 4.3 million, compared to 5.0 million in the corresponding period of 2023, primarily due to disciplined spending on user acquisition via advertisement. Global average mobile MAUs was 272.4 million, compared to 276.8 million in the corresponding period of 2023. Ting Li, Chairperson and Chief Executive Officer of JOYY (YY), commented, “During the third quarter, we continued to execute effectively on our strategic priorities, cultivating our global social and content ecosystem and enhancing our global operational capabilities and efficiencies, which yielded solid results. Our group’s GAAP and non-GAAP operating income was US$16.4 million and US$34.9 million respectively, up by 623.5% and 16.4% on a quarterly basis. During the third quarter, we continued to cultivate long-run initiatives that will further diversify our revenue. Our group’s non-livestreaming revenues grew by 13.1% to US$119.2 million quarter-over-quarter, contributing 21.3% of the group’s total revenue in the third quarter. In addition, we reaffirmed our commitment to shareholder returns by repurchasing an additional US$117.8 million worth of our shares during the quarter.”