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 ....
Read the full article on Seeking Alpha
For further details see:
JOYY Q1 Earnings: Disappointing Revenue Guidance, Maintaining My Hold Rating