JOYY Inc. Posts 12.4% Q1 Revenue Growth and Launches $1.5 Billion Return Program
JOYY•JOYY's Q1 revenue rose 12.4% YoY to US$555.7 million, driven by 55.6% growth in BIGO Ads to US$124.8 million and 16.1% SHOPLINE revenue growth to US$30.5 million. The company reported non-GAAP operating income of US$38.0 million (+22.5% YoY), and unveiled a US$1.5 billion shareholder return program.
1. First Quarter Financial Results
JOYY reported total Q1 revenue of US$555.7 million, up 12.4% YoY, with non-GAAP operating income of US$38.0 million (+22.5% YoY) and non-GAAP EBITDA of US$45.7 million (+13.2% YoY). Net cash from operating activities was US$46.0 million.
2. Business Segment Performance
Social entertainment revenue reached US$400.4 million (+3.2% YoY), with average mobile MAUs up 6.1% to 276.3 million. BIGO Ads ad tech revenue surged 55.6% YoY to US$124.8 million, and SHOPLINE e-commerce revenue climbed 16.1% to US$30.5 million.
3. Shareholder Return Programs
The company authorized a US$600 million share repurchase plan through 2028 and introduced a quarterly dividend program distributing US$900 million between 2026 and 2028, bringing total returns to US$1.5 billion. Since January 2026, JOYY returned US$156.8 million in repurchases and dividends under the 2025 program.
4. Balance Sheet and Cash Position
As of March 31, 2026, JOYY held US$3.18 billion in net cash. The robust cash position supports ongoing operations and the new return programs.
