US Stock Movement | JOYY Inc. (JOYY.US) Rises Nearly 5% as Q2 Non-Live Streaming Revenue Grows 25.6% YoY

Stock News
Sep 02

On Tuesday, JOYY Inc. (JOYY.US) surged nearly 5%, trading at $56.71. According to the financial report, JOYY Inc. generated revenue of $508 million in the second quarter, representing a 2.7% quarter-over-quarter increase. Live streaming revenue reached $375.4 million, up 1.1% sequentially. Driven by strong advertising revenue growth, the non-live streaming business maintained high growth momentum with revenue increasing 25.6% year-over-year, accounting for 26.1% of total group revenue, up 7.4 percentage points compared to the same period last year, further strengthening its profit contribution capability. In the second quarter, JOYY Inc.'s adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) reached $48.2 million, up 25.7% year-over-year and 19.3% quarter-over-quarter. Adjusted net profit totaled $77 million, increasing 3.9% year-over-year. Operating cash flow remained robust at $57.6 million.

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