JOYY Inc. has released its financial results for the first quarter of 2026. For the quarter, the company's revenue reached $555.7 million, representing a year-over-year increase of 12.4%, marking the highest growth rate in recent years. On a non-GAAP basis, the company's operating profit and EBITDA for the quarter were $38.0 million and $45.7 million, respectively, reflecting year-over-year growth of 22.5% and 13.2%. According to the company's latest financial guidance, revenue for the second quarter is projected to be between $562 million and $581 million.
This quarter marks the first time JOYY has disclosed performance according to its three major business segments: social entertainment, advertising technology, and e-commerce, indicating the initial formation of a globalized, diversified ecosystem. Specifically, social entertainment business revenue was $400.4 million, up 3.2% year-over-year. The revenue from its second growth curve, the advertising technology business BIGO Ads, was $124.8 million, a significant increase of 55.6% year-over-year. Revenue from the e-commerce business SHOPLINE was $30.5 million, growing 16.1% year-over-year.
Concurrently with the earnings release, JOYY announced an update to its three-year shareholder return plan. For the period from 2026 to 2028, the company plans to repurchase up to $600 million worth of its shares and distribute $900 million in dividends, totaling $1.5 billion. This represents a substantial increase over the previously announced three-year $900 million plan. This enhancement of the shareholder return program not only demonstrates JOYY's robust cash flow and resilient financial foundation but also reflects a firm commitment to sharing development benefits with its investors. For the quarter, the company's operating cash flow reached $46.0 million. As of March 31, 2026, the company's net cash position stood at $3.18 billion.
Li Ting, Chairman and CEO of JOYY Inc., stated that 2026 has begun with strong momentum for the company. In the first quarter, total revenue grew by 12.4% year-over-year, achieving the highest growth rate in recent years. This quarter also marks the first time the company has reported results segmented into social entertainment, BIGO Ads, and SHOPLINE, signifying the initial establishment of an AI-driven, global, and diversified business ecosystem. The three segments—social entertainment, advertising technology, and smart e-commerce—are advancing synergistically, forming a self-reinforcing strategic growth flywheel. AI serves as the underlying foundation of the entire ecosystem, comprehensively empowering content recommendation, advertising efficiency, and business intelligence across all three segments. By creating a closed business loop, it further deepens the company's competitive moat, aiming to create sustained long-term value for the company and its shareholders.
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