YY - JOYY reports Q4 earnings beat; initiates Q1 outlook

2023-03-16 00:54:42 ET

• JOYY press release ( NASDAQ: YY ): Q4 Non-GAAP EPADS of $0.65 beats by $0.36 .
• Revenue of $604.9M (-8.9% Y/Y) in-line.
• Average mobile MAUs of Bigo Live increased by 14.3% to 36.8 million from 32.2 million in the corresponding period of 2021.
• Global average mobile MAUs decreased by 4.3% to 267.9 million from 280.0 million in the corresponding period of 2021, primarily due to the decrease in average mobile MAUs of Likee and Hago.
• Total number of paying users of BIGO (including Bigo Live, Likee and imo) increased by 2.6% to 1.55 million from 1.51 million in the corresponding period of 2021.
• Average revenue per paying user of BIGO (including Bigo Live, Likee and imo) decreased to US$251.3 from US$320.2 in the corresponding period of 2021.
• Outlook: For the first quarter of 2023, the company expects net revenues to be between $552 million and $570 million vs. consensus of $593.50M.

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