JOYY Reports Third Quarter 2023 Results: Profitability Sustains, BIGO Regains Revenue Growth [Yahoo! Finance]
JOYY Inc. - American Depositary Shares (YY)
Last joyy inc. - american depositary shares earnings: 3/16 06:00 pm
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Source: Yahoo! Finance
During the third quarter of 2023, JOYY's total revenues rose sequentially to US million. The Company's core business segment BIGO generated revenues of US$ million, a sequential increase of % and a year-over-year increase of %, its first year-over-year top-line growth in six quarters. JOYY recorded net profit and non-GAAP net profit of US million and US million, with GAAP and non-GAAP net margins of and , respectively. The BIGO segment's operating profit and non-GAAP operating profit reached US million and US$81.9 million, and it further expanded its GAAP and non-GAAP operating profit margin to and , respectively. JOYY continued to generate positive operating cash flows, reaching US$72.9 million in the third quarter. In addition, JOYY maintained its commitment to return value to shareholders, as it repurchased an additional US$43.5 million of its shares during the third quarter. In the first three quarters of 2023, JOYY had returned an aggregate amount of US$355.4 million to its sh
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