JOYY Reports Third Quarter 2025 Financial Results: Ad Revenue up 29.2% YoY, Livestreaming Revenue up Two Quarters Running
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 19 2025
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Source: PRnewswire
Financial Performance: JOYY Inc. reported third-quarter 2025 revenue of US$540 million, a 6.4% increase from the previous quarter, with livestreaming revenue at US$388 million and advertising revenue growing 33.1% year-over-year to US$104 million.
Operating Income and Cash Flow: The company's operating income rose to US$20 million, a 19.1% year-over-year increase, while non-GAAP EBITDA reached US$51 million, up 16.8% year-over-year, and operating cash flow was US$73 million.
Shareholder Returns: JOYY is committed to returning approximately US$900 million to shareholders through dividends and share repurchases from 2025 to 2027, having already distributed US$148 million in dividends and repurchased US$89 million in shares.
Business Growth Strategies: The company is focusing on its dual growth engine strategy, with significant progress in both livestreaming and advertising sectors, leveraging AI technology to enhance user experience and drive revenue growth.
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Analyst Views on JOYY
Wall Street analysts forecast JOYY stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for JOYY is 68.00 USD with a low forecast of 66.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 68.565
Low
66.00
Averages
68.00
High
70.00
Current: 68.565
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.
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