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Joyy, Inc. Earnings Report: Did it Beat Expectations?

Joyy, Inc. (YY) reported an earnings beat for its 1st quarter, ending 3/31/2023. Earnings per share came in at $0.64, versus the expected $0.37.

The reported revenue of $583.63 million represents a decrease of -3.52% compared to the previous quarter, and a decrease of -6.44% compared to the same period last year.

For the 2nd quarter, analysts project earnings of $0.45 per share.

Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for YY stock.


What’s Next for Joyy, Inc., Post-Earnings?

According to TipRanks, the average analyst consensus on YY stock is a Strong Buy. This consensus is based on 4 analyst ratings made in the past 3 months. Joyy, Inc.’s average price target of $42.25 implies upside potential of 67.79% from current levels.

See our Earnings Calendar for a full list of this week’s earnings releases.


Bottom Line

An earnings beat can signify positive movement ahead for a stock’s price. Currently, YY price is $25.18, indicating a 5-day drop of -10.74%.


About Joyy, Inc.

JOYY, Inc. engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising. It operates through following segments: Live Streaming, Online Games, Membership and Others. The Live Streaming segment engages in the sales of in-channel virtual items used on live streaming platforms, including YY Live platform and Huya platform. The Online Games segment engages in the sales of in-game virtual items used for games. The Membership segment engages in the collection of membership subscription fees. The Others segment engages in the online education platform and online advertising and promotion. The company was founded by Xueling Li and Jun Lei in April 2005 and is headquartered in Guangzhou, China.

Learn more about YY financials here

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