JOYY Q1 Revenues Grow 12.4% to $555.7M on 55.6% BIGO Ads Surge
JOYY•JOYY reported Q1 net revenues of $555.7M, up 12.4% year-over-year, driven by 55.6% growth in BIGO Ads to $124.8M and 3.2% rise in Social Entertainment to $400.4M. Operating income fell to $6.8M from $12.2M year-over-year, while non-GAAP EBITDA rose to $45.7M and net cash totaled $3.18B.
1. Q1 Financial Results
JOYY’s first quarter saw net revenues of $555.7 million, a 12.4% increase from Q1 2025. Operating income declined to $6.8 million versus $12.2 million a year ago, while non-GAAP EBITDA climbed to $45.7 million from $40.4 million and net income rose to $50.7 million.
2. Segment Performance
Social Entertainment revenues increased 3.2% year-over-year to $400.4 million, with live streaming up 2.4% and ARPPU at $214.1. BIGO Ads surged 55.6% to $124.8 million, led by a 78.8% jump in audience network revenues and 109% growth in SDK ad requests.
3. Balance Sheet and MAU Growth
JOYY ended Q1 with net cash of $3,175.1 million and generated $46.0 million in operating cash flow. Global average mobile MAUs rose 6.1% to 276.3 million, while active streamers and average streaming hours per streamer increased month-over-month.
