At a glance
- Company
- JOYY Inc.
- Ticker
- NASDAQ: JOYY
- Announcement
- Earnings
- Location
- Singapore
Key figures
- First-quarter total revenue
- US$555.7 million
- BIGO Ads revenue
- US$124.8 million
- SHOPLINE revenue
- US$30.5 million
- Share repurchase authorization
- up to US$600 million
- Quarterly dividend program total
- approximately US$900 million
- Shareholder return program
- approximately US$1.5 billion
Products and programs
In the first quarter, JOYY's total revenues reached US$555.7 million, up 12.4% year over year, representing the Company's highest year-over-year growth rate in recent years. Social entertainment revenue increased 3.2% year over year to US$400.4 million. BIGO Ads ad tech and SHOPLINE e-commerce, the second growth engine of the Company, maintained strong growth momentum. BIGO Ads revenue reached US$124.8 million, up 55.6% year over year, while SHOPLINE contributed US$30.5 million, up 16.1% year over year.
In the first quarter, the Company's non-GAAP1 operating income increased 22.5% year over year to US$38.0 million, while non-GAAP1 EBITDA grew 13.2% year over year to US$45.7 million. Operating cash inflow for the quarter was US$46.0 million. Net cash as of March 31, 2026 stood at US$3.18 billion.
Simultaneously, JOYY announced a new share repurchase program, under which the Company is authorized to repurchase up to US$600 million of its shares until the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program amounts to approximately US$1.5 billion, underscoring JOYY's confidence in its long-term growth potential.
- This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports First Quarter 2026 Unaudited Financial Results" issued by the Company on May 26, 2026.
The issuer is solely responsible for the content of this announcement.
In brief
JOYY reported first-quarter 2026 revenue of US$555.7 million, a 12.4% increase from a year earlier. The company said social entertainment revenue rose 3.2% to US$400.4 million, while BIGO Ads revenue increased 55.6% to US$124.8 million and SHOPLINE revenue grew 16.1% to US$30.5 million. Non-GAAP operating income was US$38.0 million, up 22.5%, and non-GAAP EBITDA reached US$45.7 million, a 13.2% increase. JOYY also announced a share repurchase authorization of up to US$600 million through the end of 2028 and quarterly cash dividends totaling approximately US$900 million over 2026–2028. The company described the combined shareholder return program as approximately US$1.5 billion. Its financial results are unaudited.
Key takeaways
- First-quarter revenue reached US$555.7 million, up 12.4% year over year.
- BIGO Ads revenue grew 55.6% to US$124.8 million; SHOPLINE revenue rose 16.1% to US$30.5 million.
- Non-GAAP operating income increased 22.5% to US$38.0 million.
- JOYY announced up to US$600 million in share repurchases and approximately US$900 million in quarterly dividends through 2028.
