NASDAQ$JOYY
JOYY Inc.-ADR · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
JOYY Q1 2025: revenue $494.4M as non-livestreaming hits 25% of mix; GAAP operating profit up 245%
JOYY Inc. reported Q1 2025 net revenues of $494.4 million, down from $564.6 million a year ago, as live streaming revenue fell to $371.3 million while other revenues grew 25.3% to $123.0 million—the first quarter non-livestreaming exceeded 24% of total revenue. Operating income rose 244.5% to $12.2 million (margin 2.5%); non-GAAP operating income grew 24.9% to $31.0 million. Net income from continuing operations attributable to controlling interest was $45.4 million; non-GAAP net income was $63.2 million. Diluted EPS was $0.84 and non-GAAP diluted EPS $1.18 per ADS. Global mobile MAUs were 260.4 million; BIGO paying users 1.45 million with ARPPU of $221.6. Net cash was $3.39 billion. The company returned $49.1 million in dividends and repurchased $22.5 million of shares through May 23. Q2 2025 revenue guidance is $499M–$519M.
- Q1 net revenue $494.4M; live streaming $371.3M and other revenue $123.0M (+25.3% YoY, 24.9% of mix)
- Operating income $12.2M (+245% YoY); non-GAAP operating income $31.0M (+25%); gross margin 36.1%
- Non-GAAP net income $63.2M; diluted EPS $0.84 and non-GAAP EPS $1.18 per ADS
- Global mobile MAUs 260.4M; BIGO paying users 1.45M with ARPPU $221.6
- Q2 2025 revenue guidance $499M–$519M; $49.1M dividends and $22.5M buybacks YTD through May 23
Headline financials
Revenue & EPS history
JOYY · Revenue · Quarterly
$494M
Revenue by segment
JOYY · $556M total across 3 segments · Q1 2026
- Social Entertainment$400M—72.1%
- BIGO Ads$125M—22.5%
- Shopline$30.5M—5.5%
Forward guidance
For Q2 2025, JOYY expects net revenues between $499 million and $519 million, subject to increasing macroeconomic uncertainties.
Tailwinds
- Non-livestreaming revenue mix reaching 25%; BIGO Ads growing with AI-driven ad platform
Headwinds
- Live streaming revenue declining on lower paying users and ARPPU
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
+1.0%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+3.2%
Avg return
30 days after
54%
30 / 56 earnings
Positive
+72.5%
Q4 2021
Best reaction
-14.9%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +17.7% | +23.8% | — | |
| Q4 2025 | +0.1% | -0.6% | -1.8% | |
| Q3 2025 | +6.4% | +7.7% | +8.7% | |
| Q2 2025 | +3.8% | +4.9% | +13.6% | |
| Q1 2025 | +4.3% | +3.2% | +10.2% | |
| Q4 2024 | -12.1% | -10.3% | -16.4% | |
| Q3 2024 | +11.4% | +21.0% | +20.7% | |
| Q2 2024 | +2.7% | +2.1% | +11.7% | |
| Q1 2024 | -3.7% | -8.2% | -7.8% | |
| Q4 2023 | -2.4% | -4.8% | -0.2% | |
| Q3 2023 | -2.1% | -4.7% | +1.2% | |
| Q2 2023 | +2.8% | +4.8% | +15.9% | |
| Q1 2023 | -12.1% | +2.0% | +7.1% | |
| Q4 2022 | +1.9% | +6.1% | +7.4% | |
| Q3 2022 | +10.3% | +10.1% | +17.4% | |
| Q2 2022 | -13.5% | -10.5% | -19.4% | |
| Q1 2022 | -12.5% | -13.5% | -25.6% | |
| Q4 2021 | +72.5% | +74.6% | +61.6% | |
| Q3 2021 | -1.6% | +1.4% | -11.0% | |
| Q2 2021 | +11.8% | +21.3% | +35.2% | |
| Q1 2021 | -9.4% | -11.0% | -16.8% | |
| Q4 2020 | -11.3% | -11.7% | -8.6% | |
| Q3 2020 | +6.4% | -9.5% | -12.7% | |
| Q2 2020 | +6.9% | +5.2% | -3.5% | |
| Q1 2020 | +0.5% | -11.6% | +54.0% | |
| Q4 2019 | -2.6% | -17.1% | +14.3% | |
| Q3 2019 | -3.9% | -5.4% | -12.9% | |
| Q2 2019 | +3.1% | +5.5% | +15.3% | |
| Q1 2019 | +4.5% | +6.8% | +7.7% | |
| Q4 2018 | +14.9% | +7.1% | +24.4% | |
| Q3 2018 | -6.8% | +4.8% | +1.2% | |
| Q2 2018 | -14.9% | -17.1% | -19.6% | |
| Q1 2018 | -12.7% | -9.0% | -21.7% | |
| Q4 2017 | -11.2% | -10.3% | -22.8% | |
| Q3 2017 | +22.9% | +18.4% | +19.5% | |
| Q2 2017 | +1.2% | -6.2% | +0.1% | |
| Q1 2017 | -1.8% | +0.7% | +7.1% | |
| Q4 2016 | -3.6% | +4.5% | -9.9% | |
| Q3 2016 | +0.9% | +3.9% | -4.6% | |
| Q2 2016 | +4.4% | +3.6% | +12.1% | |
| Q1 2016 | +1.2% | -1.5% | -22.2% | |
| Q4 2015 | -0.1% | — | — | |
| Q3 2015 | -0.7% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -7.4% | — | — | |
| Q4 2014 | +12.3% | — | — | |
| Q3 2014 | -3.5% | — | — | |
| Q2 2014 | +8.1% | — | — | |
| Q1 2014 | -6.3% | — | — | |
| Q4 2013 | +2.9% | — | — | |
| Q3 2013 | -11.4% | — | — | |
| Q2 2013 | -4.3% | — | — | |
| Q1 2013 | +3.9% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q4 2011 | +0.1% | — | — | |
| Q4 2012 | -13.2% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q3 2011 | — | — | — |
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