JOYY Reports Second Quarter 2025 Financial Results: Ad Tech Business Gained Momentum, with Non-livestreaming Revenue Growing 25.6% YoY
JOYY Inc. (NASDAQ: JOYY) reported strong Q2 2025 financial results, with total revenue reaching US$507.8 million, up 2.7% quarter-over-quarter. The company's non-livestreaming revenue grew 25.6% year-over-year, contributing 26.1% of total revenues, while livestreaming revenue increased 1.1% quarter-over-quarter to US$375.4 million.
Key financial metrics showed solid performance with non-GAAP EBITDA of US$48.2 million (up 25.7% YoY) and GAAP net profit of US$60.8 million (up 16.8% YoY). The company maintained a strong financial position with US$3.3 billion in net cash and announced a three-year dividend policy totaling approximately US$600 million plus a US$300 million share repurchase program from 2025 to 2027.
BIGO Ads demonstrated significant growth potential, with global MAUs reaching 262.5 million. The platform expanded its advertising reach through new integrations and achieved notable growth across multiple regions, particularly in North America and Europe.
JOYY Inc. (NASDAQ: JOYY) ha pubblicato solidi risultati finanziari per il secondo trimestre 2025: i ricavi totali sono arrivati a US$507,8 milioni, in crescita del 2,7% su base trimestrale. I ricavi non derivanti da livestreaming sono aumentati del 25,6% su base annua, rappresentando il 26,1% del totale, mentre i ricavi da livestreaming sono saliti dell'1,1% trimestre su trimestre, toccando i US$375,4 milioni.
I principali indicatori finanziari mostrano una performance robusta: l'EBITDA non-GAAP 猫 stato di US$48,2 milioni (in aumento del 25,7% su base annua) e l'utile netto GAAP 猫 risultato pari a US$60,8 milioni (in crescita del 16,8% annuo). La societ脿 mantiene una solida posizione finanziaria con US$3,3 miliardi di cassa netta e ha annunciato una politica di dividendi triennale per un ammontare complessivo di circa US$600 milioni, oltre a un programma di riacquisto azionario di US$300 milioni per il periodo 2025-2027.
BIGO Ads ha evidenziato un forte potenziale di crescita, con utenti attivi mensili globali (MAU) che hanno raggiunto i 262,5 milioni. La piattaforma ha ampliato la propria portata pubblicitaria tramite nuove integrazioni e ha registrato una crescita significativa in pi霉 regioni, in particolare in Nord America ed Europa.
JOYY Inc. (NASDAQ: JOYY) present贸 s贸lidos resultados financieros en el segundo trimestre de 2025, con ingresos totales por US$507,8 millones, un aumento del 2,7% trimestre a trimestre. Los ingresos fuera del livestreaming crecieron un 25,6% interanual, representando el 26,1% del total, mientras que los ingresos por livestreaming aumentaron un 1,1% trimestre a trimestre hasta los US$375,4 millones.
Los principales indicadores financieros muestran buen desempe帽o: el EBITDA no GAAP fue de US$48,2 millones (subi贸 25,7% interanual) y la utilidad neta GAAP fue de US$60,8 millones (incremento del 16,8% interanual). La compa帽铆a mantiene una s贸lida posici贸n financiera con US$3,3 mil millones en efectivo neto y anunci贸 una pol铆tica de dividendos por tres a帽os por aproximadamente US$600 millones, adem谩s de un programa de recompra de acciones de US$300 millones para 2025-2027.
BIGO Ads mostr贸 un destacado potencial de crecimiento, con usuarios activos mensuales globales (MAU) que alcanzaron los 262,5 millones. La plataforma ampli贸 su alcance publicitario mediante nuevas integraciones y registr贸 un crecimiento notable en varias regiones, especialmente en Norteam茅rica y Europa.
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BIGO Ads電� 靹膘灔 臧�電レ劚鞚� 韥矊 雮橅儉雮姷雼堧嫟. 旮�搿滊矊 鞗旉皠 頇滌劚 靷毄鞛�(MAU)電� 2鞏�6,250毵� 氇�(262.5 million)鞐� 雼枅瓿�, 鞁犼窚 韱淀暕鞚� 韱淀暣 甏戧碃 霃勲嫭 氩旍渼毳� 頇曤寑頄堨溂氅� 韸鬼瀳 攵侂鞕� 鞙犽熃鞐愳劀 雸堨棎 霛勲姅 靹膘灔鞚� 旮半頄堨姷雼堧嫟.
JOYY Inc. (NASDAQ: JOYY) a publi茅 de solides r茅sultats pour le deuxi猫me trimestre 2025, avec un chiffre d'affaires total de 507,8 M$, en hausse de 2,7% par rapport au trimestre pr茅c茅dent. Les revenus hors livestreaming ont progress茅 de 25,6% en glissement annuel, repr茅sentant 26,1% du chiffre d'affaires total, tandis que les revenus de livestreaming ont augment茅 de 1,1% s茅quentiellement pour atteindre 375,4 M$.
Les principaux indicateurs financiers affichent de bonnes performances : l'EBITDA non-GAAP s'茅l猫ve 脿 48,2 M$ (en hausse de 25,7% en glissement annuel) et le b茅n茅fice net GAAP est de 60,8 M$ (en progression de 16,8% sur un an). La soci茅t茅 conserve une solide position financi猫re avec 3,3 Md$ de tr茅sorerie nette et a annonc茅 une politique de dividendes sur trois ans d'environ 600 M$, ainsi qu'un programme de rachat d'actions de 300 M$ pour la p茅riode 2025-2027.
BIGO Ads a montr茅 un fort potentiel de croissance, avec 262,5 millions d'utilisateurs actifs mensuels (MAU) au niveau mondial. La plateforme a 茅tendu sa port茅e publicitaire via de nouvelles int茅grations et a enregistr茅 une croissance notable dans plusieurs r茅gions, notamment en Am茅rique du Nord et en Europe.
JOYY Inc. (NASDAQ: JOYY) meldete starke Finanzzahlen f眉r das zweite Quartal 2025: die Gesamterl枚se beliefen sich auf US$507,8 Millionen, ein Anstieg von 2,7% gegen眉ber dem Vorquartal. Die nicht-livestreaming Erl枚se wuchsen 25,6% im Jahresvergleich und machten 26,1% der Gesamterl枚se aus, w盲hrend die Livestreaming-Erl枚se im Quartalsvergleich um 1,1% auf US$375,4 Millionen zulegten.
Wesentliche Finanzkennzahlen zeigten eine solide Entwicklung: das Non-GAAP-EBITDA lag bei US$48,2 Millionen (plus 25,7% YoY) und der GAAP-Nettoertrag betrug US$60,8 Millionen (plus 16,8% YoY). Das Unternehmen verf眉gt 眉ber eine starke Finanzlage mit US$3,3 Milliarden Nettogeldbestand und k眉ndigte eine dreij盲hrige Dividendenpolitik in H枚he von insgesamt rund US$600 Millionen sowie ein Aktienr眉ckkaufprogramm 眉ber US$300 Millionen f眉r 2025鈥�2027 an.
BIGO Ads zeigte erhebliches Wachstumspotenzial: die globalen monatlichen aktiven Nutzer (MAU) erreichten 262,5 Millionen. Die Plattform erweiterte ihre Werreichweite durch neue Integrationen und verzeichnete insbesondere in Nordamerika und Europa deutliches Wachstum.
- Non-livestreaming revenue grew 25.6% YoY, showing successful diversification
- Non-GAAP EBITDA increased 25.7% YoY to US$48.2 million
- Strong balance sheet with US$3.3 billion in net cash
- Substantial shareholder returns with US$600 million dividend policy and US$300 million buyback program
- BIGO's livestreaming paying users grew 3.7% QoQ
- Global MAUs reached 262.5 million with positive growth momentum
- Operating income increased 155.4% YoY to US$5.8 million
- Overall revenue growth was modest at 2.7% QoQ
- Livestreaming revenue showed minimal growth of 1.1% QoQ
- Heavy dependence on livestreaming revenue (73.9% of total revenue)
Insights
JOYY delivered moderate topline growth with impressive ad tech expansion, while maintaining strong profitability and shareholder returns.
JOYY's Q2 2025 results reveal a company successfully executing its diversification strategy. The 2.7% QoQ revenue growth to
Profitability metrics are particularly strong. Non-GAAP EBITDA increased
JOYY's user metrics show encouraging momentum. Mobile MAUs reached 262.5 million with renewed sequential growth. Bigo Live's paying users increased
Geographic diversification is evident, with Bigo Live's revenue in Europe rebounding
The shareholder return program remains robust, with
In the second quarter of 2025, JOYY's revenue reached
JOYY continued to deliver competitive, consistent shareholder returns. From January 1, 2025 through June 30, 2025, the Company has allocated聽US
The Company聽previously announced a three-year quarterly dividend policy with a total amount of approximately
Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "Our聽multi-engine growth strategy yielded positive聽results, as evidenced by the impressive revenue growth of BIGO Ads. We are making substantial progress on all fronts, including expansion of our traffic, and rising advertiser demand across channels and verticals. As we grow in scale, we are accelerating the training and optimization of our algorithms to further improve our campaign performance and ROI, which we believe in turn will drive further growth in advertisers' demand and publisher traffic, fostering a self-reinforcing strategic flywheel. With our global operational capabilities, tech infrastructure, and vibrant ecosystem, we are confident in building a meaningful and lasting presence in the advertising technology industry while delivering sustained, long-term value for our shareholders."
Second Quarter 2025 Financial Highlights
- Net revenues in the second quarter of 2025 were
US .$507.8 million - Operating income was
US in the second quarter of 2025, compared to$5.8 million US in the corresponding period of 2024, representing a$2.3 million 155.4% year-over-year increase. - Non-GAAP1 EBITDA was
US in the second quarter of 2025, compared to$48.2 million US .4聽million in the corresponding period of 2024, representing a$38 25.7% year-over-year increase. - Net income from continuing operations attributable to controlling interest of聽JOYY was
US .8聽million聽in the second quarter of 2025, compared to$60 US .1聽million in the corresponding period of 2024, representing a$52 16.8% year-over-year increase. - Non-GAAP1 net income from continuing operations attributable to controlling interest and common shareholders of JOYY was
US .0聽million聽in the second quarter of 2025, compared to$77 US .0聽million in the corresponding period of 2024, representing a$74 3.9% year-over-year increase.
Second Quarter 2025 Business Highlights
Livestreaming Business
In the second quarter, the Company's livestreaming revenue reached
Fueled by聽ROI-driven聽user acquisition and an ever-improving user experience, JOYY's global average mobile MAUs were 262.5聽million, resuming sequential growth in the second quarter. Bigo Live's MAUs numbers increased by
JOYY enhanced content quality and refined the paying user experience during the second quarter, which drove higher user engagement and conversion efficiency. As a result, BIGO's overall livestreaming paying users grew
Advertising Business
In the second quarter, JOYY's second major growth engine demonstrated significant growth potential, with non-livestreaming revenue accounting for
JOYY is building significant scale on the traffic side. Its reach spans roughly 262.5鈥痬illion users through its own social apps, and it extends this reach substantially by seamlessly integrating premium global traffic across multiple channels. BIGO Ads has significantly scaled its third-party BIGO Audience network traffic through successful integrations with AppLovin MAX and Unity LevelPlay mediation platforms. Growing publisher SDK adoption has driven nearly
Meanwhile, BIGO Ads achieved robust growth across聽IAA, IAP,聽and Web鈥慴ased channels, with daily transaction volumes reaching record levels.聽Web-based lead鈥慻eneration verticals continued to post double鈥慸igit gains, powered by model optimization, enriched data feedback, and improved bidding strategies. In IAA, double-digit QoQ growth of IAA advertising was driven by growing demand from top gaming companies.
Geographically,聽in the first half of 2025, North America聽achieved approximately
The platform's proprietary user data asset, enhanced by customer feedback and multi-channel attribution, continuously improves its profiling and targeting precision. Deep synergies across its business segments, including accumulated vertical insights, data assets聽and聽established algorithm capabilities, together with experiences under cold-start scenarios,聽have given BIGO Ads a head start in developing specialized models tailored to each vertical.聽Additionally, JOYY's聽global network infrastructure and tech capabilities, originally built for its social entertainment businesses, offer significant cost advantages.
BIGO Ads has emerged as JOYY's second growth engine, unlocking significant long-term opportunities for the Company. The Company is developing its long-term capabilities, particularly as its data and algorithms, and establishing differentiated competitive advantages across various markets and verticals.
1.This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports Second Quarter 2025 Unaudited Financial Results" issued by the Company on August 27, 2025.
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