JOYY Inc. Reports Highest Year-over-Year Revenue Growth in Recent Years for Q1, Plans $1.5 Billion Shareholder Return Over Next Three Years

Stock News05-26 07:06

JOYY Inc. (JOYY.US) announced its first-quarter 2026 financial results. Revenue for the quarter reached $555.7 million, marking a 12.4% year-over-year increase and representing the highest growth rate in recent years. For the first time, JOYY disclosed performance across its three core business segments: social entertainment, advertising technology BIGO Ads, and e-commerce SHOPLINE, all of which achieved year-over-year growth.

The social entertainment segment, serving as the company's strategic foundation, generated revenue of $400.4 million, up 3.2% year-over-year, continuing to provide a stable cash flow base. The advertising technology business BIGO Ads and the e-commerce business SHOPLINE, identified as secondary growth drivers, maintained strong momentum. BIGO Ads revenue was $124.8 million, a 55.6% increase, while SHOPLINE revenue reached $30.5 million, growing 16.1% year-over-year.

JOYY's non-GAAP operating profit and EBITDA for the first quarter were $38.0 million and $45.7 million, respectively, rising 22.5% and 13.2% from the prior year. Operating cash flow for the quarter was $46.0 million. As of March 31, the company held net cash of $3.18 billion.

Concurrently, JOYY announced an enhanced shareholder return program. From 2026 to 2028, the company plans to repurchase up to $600 million worth of shares and distribute $900 million in dividends, totaling a $1.5 billion return to shareholders over the three-year period.

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