JOYY Approves $20M Dividend and Guides 8.8%-10.9% Q1 Growth
JOYY expects seasonal softness for Q1 2026 live streaming revenue due to Lunar New Year and Ramadan, yet guides 8.8%-10.9% overall Q1 revenue growth. The company plans to refine segment reporting and authorized a $20 million cash dividend with continued share buybacks to enhance shareholder returns.
1. Q4 Results and Q1 Guidance
JOYY delivered strong revenue growth in Q4 2025 but saw non-GAAP operating income decline after one-off advertising savings from the prior year. It anticipates seasonal Q1 2026 live streaming softness from Lunar New Year and Ramadan yet guides 8.8%–10.9% year-over-year revenue growth driven by live streaming improvements and BIGO Ads.
2. Shareholder Returns
The board approved an additional $20 million cash dividend following a double-digit improvement in non-GAAP operating income for 2025. The company believes it is undervalued and will continue active share buybacks to enhance shareholder returns during its new growth phase.
3. Segment Reporting and Strategic Focus
JOYY plans to refine its segment reporting structure to provide clearer insights into social entertainment, ad tech and e-commerce businesses. This strategic move aims to improve transparency and support targeted growth initiatives across its core operating segments.
4. BIGO Ads and Shopline Outlook
BIGO Ads is expected to deliver mid-double-digit revenue growth in Q1 2026 and surpass $1 billion by 2028 through algorithm upgrades, organic traffic growth and regional expansion. Meanwhile, Shopline’s stabilized R&D investments and rapid cross-border merchant growth position it on a path to breakeven by 2028.