Joyy announces Q3 revenue of $540 million, falling short of the $547.49 million consensus estimate.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2025
0mins
Should l Buy JOYY?
Financial Performance: Joyy reported an operating cash flow of $73M for Q3 and held $3.32B in net cash as of September 30.
Growth Strategy: CEO Ting Li highlighted a steady recovery in livestreaming revenue and growth in the advertising sector, emphasizing the company's dual growth engine strategy.
Future Outlook: The company anticipates a return to year-over-year revenue growth in 2026, with positive trends expected in both livestreaming and advertising technology sectors.
Ecosystem Synergies: Joyy aims to leverage its integrated ecosystem to enhance its position as a global technology company and create long-term value for shareholders.
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Analyst Views on JOYY
Wall Street analysts forecast JOYY stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 60.340
Low
66.00
Averages
68.00
High
70.00
Current: 60.340
Low
66.00
Averages
68.00
High
70.00
About JOYY
JOYY Inc. is a global technology company. The Company operates several social media platforms such as Bigo Live, Likee and Hago that enable users to interact with others in real time. It operates through two segments: BIGO and All other. The BIGO segment primarily consists of several social entertainment platforms, including Bigo Live, Likee, imo, and certain audio live streaming platform, as well as its advertising platform, Bigo Ads. The All other segment primarily consist of Hago, Shopline, certain audio live streaming platforms, and others. Bigo Live enables its users to share their life moments, showcase their talents, socialize, and connect with other users. Likee enables users to easily discover, create and share short-form videos, with all-in-one video creation tools, such as filters and special effects, and AI-backed personalized feed. Hago provides casual games, audio and video multiuser chatrooms and three-dimensional (3D) avatars and 3D interactive scenes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
JOYY INC Reports 5.9% Year-Over-Year Revenue Growth in Q4 2025, Reaching $581.9 Million
- Revenue Growth: Joyy Inc. reported a year-over-year revenue increase of 5.9% for Q4 2025.
- Total Revenue: The company's total revenue for the quarter reached $581.9 million.
See More
JOYY Reports Q4 2025 Financial Results with Revenue Growth
- Revenue Growth: JOYY's net revenues for Q4 2025 reached $581.9 million, reflecting a 5.9% year-over-year increase and a 7.7% quarter-over-quarter rise, marking the first year-over-year growth since the second half of 2024, indicating a positive market recovery.
- Surge in Advertising Revenue: Advertising revenues soared by 62.4% year-over-year to $145.4 million, and increased by 29.3% quarter-over-quarter, showcasing the strong performance of BIGO Ads and enhanced advertising spend efficiency, further solidifying the company's position in the advertising market.
- User Growth: The global average mobile MAUs reached 272.1 million in Q4 2025, up 3.4% year-over-year and 2.2% quarter-over-quarter, indicating significant success in optimizing marketing strategies and attracting high-value users.
- Strong Cash Flow: As of December 31, 2025, the company reported net cash of $3.258 billion, with net cash from operating activities at $116 million, demonstrating a robust financial foundation for ongoing investments and shareholder returns.
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JOYY INC REPORTS DILUTED NET INCOME FROM CONTINUING OPERATIONS PER ADS AT US$1.03 FOR Q4 2025
- Financial Performance: Joyy Inc. reported a diluted net income of $1.03 per share for the fourth quarter of 2025 from continuing operations.
- Earnings Context: This figure reflects the company's financial performance during that specific quarter, indicating profitability.
See More
JOYY INC Reports Q4 2025 Net Revenues of $581.9 Million, Increasing 5.9% Year-over-Year and 7.7% Quarter-over-Quarter
- Q4 2025 Revenue: Joyy reported a net revenue of $581.9 million for Q4 2025.
- Year-over-Year Growth: This figure represents a year-over-year increase of 5.9%.
- Quarter-over-Quarter Growth: The revenue also shows a quarter-over-quarter growth of 7.7%.
- Overall Performance: The financial results indicate a positive trend in the company's revenue performance.
See More
JOYY Reports Strong Q4 2025 Earnings with Revenue Growth
- Total Revenue Growth: JOYY reported total revenue of $581.9 million in Q4 2025, reflecting a 7.7% quarter-over-quarter increase and a 5.9% year-over-year rise, indicating sustained growth potential in the social entertainment sector and boosting market confidence.
- Surge in Advertising Revenue: BIGO Ads generated $128.1 million in revenue for Q4 2025, marking a significant 61.5% year-over-year increase and a 23.3% quarter-over-quarter rise, demonstrating strong momentum in the advertising segment that will support future profitability.
- Robust Cash Flow: The company maintained an operating cash flow of $115 million in Q4 2025, with net cash reaching $3.26 billion, providing a solid foundation for future investments and shareholder returns, showcasing financial health.
- Commitment to Shareholder Returns: JOYY returned $332 million to shareholders through share repurchases and dividends in 2025, reflecting a strong commitment to enhancing shareholder value while planning to continue buybacks to bolster market confidence.
See More
JOYY Q4 Earnings Report Analysis
- Earnings Performance: JOYY's Q4 non-GAAP EPS of $1.34 missed expectations by $0.04, indicating pressure on profitability that may affect investor confidence.
- Revenue Growth: The company reported Q4 revenue of $581.9 million, a 5.9% year-over-year increase, exceeding market expectations by $16.08 million, suggesting a degree of business momentum.
- EBITDA Decline: Non-GAAP EBITDA was $50.6 million, down from $55.7 million in the same period of 2024, with an EBITDA margin of 8.7%, lower than 10.1% last year, reflecting challenges in cost control.
- Cash Flow Status: As of December 31, 2025, the company had net cash of $3.258 billion, a decrease of $15.9 million from 2024, although net cash from operating activities was $116 million, indicating some cash generation capability.
See More
JOYY INC Reports 5.9% Year-Over-Year Revenue Growth in Q4 2025, Reaching $581.9 Million
- Revenue Growth: Joyy Inc. reported a year-over-year revenue increase of 5.9% for Q4 2025.
- Total Revenue: The company's total revenue for the quarter reached $581.9 million.
See More
JOYY Reports Q4 2025 Financial Results with Revenue Growth
- Revenue Growth: JOYY's net revenues for Q4 2025 reached $581.9 million, reflecting a 5.9% year-over-year increase and a 7.7% quarter-over-quarter rise, marking the first year-over-year growth since the second half of 2024, indicating a positive market recovery.
- Surge in Advertising Revenue: Advertising revenues soared by 62.4% year-over-year to $145.4 million, and increased by 29.3% quarter-over-quarter, showcasing the strong performance of BIGO Ads and enhanced advertising spend efficiency, further solidifying the company's position in the advertising market.
- User Growth: The global average mobile MAUs reached 272.1 million in Q4 2025, up 3.4% year-over-year and 2.2% quarter-over-quarter, indicating significant success in optimizing marketing strategies and attracting high-value users.
- Strong Cash Flow: As of December 31, 2025, the company reported net cash of $3.258 billion, with net cash from operating activities at $116 million, demonstrating a robust financial foundation for ongoing investments and shareholder returns.
See More
JOYY INC REPORTS DILUTED NET INCOME FROM CONTINUING OPERATIONS PER ADS AT US$1.03 FOR Q4 2025
- Financial Performance: Joyy Inc. reported a diluted net income of $1.03 per share for the fourth quarter of 2025 from continuing operations.
- Earnings Context: This figure reflects the company's financial performance during that specific quarter, indicating profitability.
See More
JOYY INC Reports Q4 2025 Net Revenues of $581.9 Million, Increasing 5.9% Year-over-Year and 7.7% Quarter-over-Quarter
- Q4 2025 Revenue: Joyy reported a net revenue of $581.9 million for Q4 2025.
- Year-over-Year Growth: This figure represents a year-over-year increase of 5.9%.
- Quarter-over-Quarter Growth: The revenue also shows a quarter-over-quarter growth of 7.7%.
- Overall Performance: The financial results indicate a positive trend in the company's revenue performance.
See More
JOYY Reports Strong Q4 2025 Earnings with Revenue Growth
- Total Revenue Growth: JOYY reported total revenue of $581.9 million in Q4 2025, reflecting a 7.7% quarter-over-quarter increase and a 5.9% year-over-year rise, indicating sustained growth potential in the social entertainment sector and boosting market confidence.
- Surge in Advertising Revenue: BIGO Ads generated $128.1 million in revenue for Q4 2025, marking a significant 61.5% year-over-year increase and a 23.3% quarter-over-quarter rise, demonstrating strong momentum in the advertising segment that will support future profitability.
- Robust Cash Flow: The company maintained an operating cash flow of $115 million in Q4 2025, with net cash reaching $3.26 billion, providing a solid foundation for future investments and shareholder returns, showcasing financial health.
- Commitment to Shareholder Returns: JOYY returned $332 million to shareholders through share repurchases and dividends in 2025, reflecting a strong commitment to enhancing shareholder value while planning to continue buybacks to bolster market confidence.
See More
JOYY Q4 Earnings Report Analysis
- Earnings Performance: JOYY's Q4 non-GAAP EPS of $1.34 missed expectations by $0.04, indicating pressure on profitability that may affect investor confidence.
- Revenue Growth: The company reported Q4 revenue of $581.9 million, a 5.9% year-over-year increase, exceeding market expectations by $16.08 million, suggesting a degree of business momentum.
- EBITDA Decline: Non-GAAP EBITDA was $50.6 million, down from $55.7 million in the same period of 2024, with an EBITDA margin of 8.7%, lower than 10.1% last year, reflecting challenges in cost control.
- Cash Flow Status: As of December 31, 2025, the company had net cash of $3.258 billion, a decrease of $15.9 million from 2024, although net cash from operating activities was $116 million, indicating some cash generation capability.
See More
