JOYY Q1 Revenue Reaches $555.7 Million, Announces $600 Million Buyback
Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "We are pleased to report a strong start to 2026. Total revenues for the first quarter reached US$555.7 million, up by 12.4% year over year, our strongest year over year growth rate in recent years. Our social entertainment business returned to year over year growth, while our second growth curve, Ad Tech and Smart Commerce, continued to progress with strong momentum. In light of our solid operational performance and robust balance sheet, we announced an updated shareholder return program, under which we could repurchase up to US$600 million worth of our shares and distribute approximately US$900 million in dividends over the next three years. This underscores our strong confidence in long-term potential of our business and demonstrates our continued commitment to delivering sustainable value to our shareholders."
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- Significant Revenue Growth: In Q1 2026, JOYY reported total revenues of $555.7 million, reflecting a 12.4% year-over-year increase, indicating a recovery in the social entertainment segment and strong momentum in ad tech, thereby reinforcing the company's competitive position in the market.
- Enhanced Shareholder Return Plan: The Board approved a $1.5 billion shareholder return program, which includes a share buyback of up to $600 million and approximately $900 million in dividends over the next three years, aimed at boosting shareholder confidence and attracting more investors.
- Business Structure Adjustment: The company reported its results for the first time under three independent segments: Social Entertainment, BIGO Ads, and Shopline, marking a strategic inflection point that is expected to enhance transparency and operational efficiency across its business lines.
- Optimistic Future Outlook: Management expects net revenues for Q2 2026 to be between $562 million and $581 million, with BIGO Ads and Shopline projected to achieve mid-double-digit and approximately 25% year-over-year growth, respectively, demonstrating the company's confidence in future growth prospects.
- Earnings Performance: JOYY's Q1 non-GAAP EPS of $1.11 missed expectations by $0.33, indicating pressure on profitability that could affect investor confidence.
- Revenue Growth: The company reported revenues of $555.7 million, a 12.4% year-over-year increase, yet it fell short of expectations by $2.97 million, reflecting intensified market competition.
- EBITDA Fluctuation: Non-GAAP EBITDA stood at $45.7 million, up from $40.4 million in the same period of 2025 but down from $50.6 million in Q4 2025, indicating volatility in profitability.
- Cash Flow Status: As of March 31, 2026, net cash was $3.175 billion, with cash flow from operating activities at $46 million, down from $58 million in the same period of 2025, suggesting challenges in cash flow management.
- Significant Revenue Growth: JOYY's total revenue for Q1 reached $555.7 million, marking a 12.4% year-over-year increase, the highest growth rate in recent years, indicating strong synergy among its three business pillars of social entertainment, advertising, and e-commerce, enhancing overall market competitiveness.
- Robust Advertising Performance: BIGO Ads generated $124.8 million in advertising revenue, up 55.6% year-over-year, driven by broader traffic coverage and multi-vertical advertiser expansion, showcasing the company's ongoing innovation and market penetration in the ad tech sector.
- Strong E-commerce Results: SHOPLINE reported $30.5 million in revenue for Q1, a 16.1% year-over-year increase, with gross margin expanding to 51.5%, reflecting the company's robust performance and support capabilities in the global omnichannel commerce landscape.
- Enhanced Shareholder Return Program: JOYY announced a new shareholder return program totaling $1.5 billion, significantly higher than the previous $900 million plan from 2025, demonstrating the company's confidence in future growth and commitment to its shareholders.
- Significant Revenue Growth: JOYY's total revenue for Q1 reached $555.7 million, marking a 12.4% year-over-year increase, the highest growth rate in recent years, indicating strong synergy among its three business pillars: social entertainment, advertising, and e-commerce.
- Robust Advertising Performance: BIGO Ads generated $124.8 million in revenue, up 55.6% year-over-year, driven by ongoing optimization of advertising technology and expansion into multiple verticals, further solidifying JOYY's competitive position in the advertising market.
- Shareholder Return Program: JOYY announced a new $1.5 billion shareholder return program, significantly higher than the previous $900 million plan from 2025, with cash distributions planned between 2026 and 2028, reflecting the company's confidence in future growth.
- Strong SHOPLINE Results: SHOPLINE reported $30.5 million in revenue for Q1, a 16.1% year-over-year increase, with gross margin expanding to 51.5%, indicating positive outcomes from the company's strategic focus on omnichannel retail and AI-driven commerce infrastructure.










