YY Overview

Financial Performance: JOYY Inc. reported a profit of $62 million for the third quarter, with a net income of $1.15 per share and adjusted earnings of $1.36 per share.

Revenue Details: The company generated revenue of $540.2 million during the same period and anticipates revenue between $563 million and $578 million for the upcoming quarter ending in December.

ETF Performance: The KraneShares CSI China Internet ETF is down approximately 3.6% in Thursday afternoon trading, underperforming other ETFs.

Notable Declines: Key components of the ETF, such as Joyy and Iqiyi, experienced significant declines, with Joyy falling by about 10.7% and Iqiyi by about 4.7%.

ETF Performance: The KraneShares CSI China Internet ETF is down approximately 3.4% in Thursday afternoon trading, with notable declines in shares of Joyy (down 11%) and Weibo (down 4.8%).

Author's Opinion Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.

U.S. Stock Market Trends: U.S. stock futures are down, with the Dow futures dropping around 200 points; JOYY Inc. shares fell 10.9% after reporting weak quarterly sales despite beating earnings estimates.

Other Notable Stock Movements: Several companies, including Akebia Therapeutics and Maze Therapeutics, experienced significant declines in pre-market trading, with Akebia's shares falling 26.2% following a public offering announcement.

Five Below Financial Performance: Five Below, Inc. shares surged 11.9% in pre-market trading after reporting fourth-quarter earnings of $3.48 per share, exceeding estimates, and sales of $1.391 billion, slightly above expectations.

Market Movements: Several stocks experienced significant pre-market movements, with SAG Holdings rising 77.8% and ProAssurance Corporation gaining 50.6% due to acquisition announcements, while Zoomcar Holdings fell 28.4% following a reverse stock split.

Dividend Announcement: JOYY Inc. (NASDAQ: YY) has declared a quarterly dividend of $0.93 per ADS, with a forward yield of 7.94%, payable on April 30 to shareholders of record as of April 17.

Earnings Report: The company reported mixed Q4 earnings and has initiated its outlook for Q1, while also being noted as undervalued following the sale of YY Live to Baidu.