YY - JOYY Q1 Earnings: Disappointing Revenue Guidance Maintaining My Hold Rating

2024-05-30 08:53:39 ET

Summary

• JOYY Inc.'s near-term revenue outlook is lackluster, as the company has guided for its top line to contract by -2% QoQ to $553.5 million in the second quarter of the year.
• On the flip side, JOYY's latest quarterly results and disclosures had favorable read-throughs for its future share repurchases, the developed countries' growth outlook, and its ability to manage costs.
• There were both good and bad takeaways from JOYY's performance and prospects, so I choose to leave my existing Hold rating for the stock unchanged.

Elevator Pitch

JOYY Inc. ( YY ) shares are assigned a Hold rating. The focus was on evaluating JOYY's key "positives and negatives" in my earlier April 9, 2024, article ....

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