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Leidi Network, Lei Jianping, March 11
JOYY Inc. (NASDAQ: JOYY) today released its financial report for the year ending December 31, 2025. The report shows that JOYY's revenue for 2025 is $2.124 billion, of which live streaming revenue is $1.53 billion, advertising revenue is $443 million, and other revenue is $152 million.
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JOYY's operating profit for 2025 is $55.8 million, Non-GAAP EBITDA is $190 million, an increase of 10.9% compared to $171 million in the same period last year; the net profit attributable to the company is $223 million, and the Non-GAAP net profit is $283 million.
$134.6 million spent on share repurchase in 2025
According to the share repurchase plan authorized by the company in March 2025, which is effective until the end of 2027, the company repurchased approximately 2.4 million ADS in the open market throughout 2025, for a total consideration of $134.6 million, of which approximately 1.1 million ADS were repurchased in the fourth quarter of 2025, for a total consideration of $67.4 million.
Between December 31, 2025, and March 11, 2026, the company additionally repurchased approximately 400,000 American Depositary Shares for a total consideration of $25 million. As of the date of this announcement, the remaining unused amount under the authorized share repurchase plan is approximately $140 million.
Cash dividend of $0.069 per common share
On March 19, 2025, JOYY's board of directors approved a quarterly dividend plan for 2025 to 2027, under which JOYY will distribute a total of $600 million in cash, with distributions made each quarter. Therefore, it is expected that a cash dividend of $0.99 per ADS or $0.0495 per common share will be paid according to this quarter's dividend plan.
JOYY announced that, in light of its strong performance for the fiscal year 2025 and the continued double-digit improvement in Non-GAAP operating profitability, its board of directors has approved an additional cash dividend totaling $20 million (or $0.39 per ADS, or $0.0195 per common share), which accounts for approximately 10% of the total cash dividends announced for the fiscal year 2025. The additional cash dividend will be paid together with the aforementioned quarterly dividend
Combining the quarterly cash dividend and the additional cash dividend for the first quarter of 2026, the company's board of directors announced a cash dividend of $1.38 per ADS or $0.069 per common share, which is expected to be paid on May 8, 2026, to shareholders of record as of the close of business on April 22, 2026. The ex-dividend date is April 22, 2026.
Ms. Li Ting, Chairwoman and CEO of JOYY Group, said: &#34;We ended 2025 with strong momentum, with total revenue in the fourth quarter reaching $581.9 million, a year-over-year increase of 5.9% and a quarter-over-quarter increase of 7.7%. This marks our first year-over-year revenue growth since the second half of 2024. It signifies a key moment in our revenue trajectory and strategic transformation.&#34;
&#34;Our live streaming business achieved revenue recovery for the third consecutive quarter, with a quarter-over-quarter revenue increase of 1.5%. Meanwhile, our advertising business showed significant growth momentum, with BIGO advertising revenue reaching $128.1 million, a year-over-year increase of 61.5% and a quarter-over-quarter increase of 23.3%.&#34;
Ms. Li Ting pointed out: &#34;In 2025, we made meaningful progress in shaping our strategic framework, becoming a global technology company with a multi-business collaborative growth engine. Driven by broader traffic coverage, expansion of multi-vertical advertisers, and ongoing algorithm optimization, BIGO Ads achieved a 38.5% year-over-year revenue growth in 2025, with its third-party advertising platform business revenue accelerating to a year-over-year growth of 56.3%. Operating cash flow remained strong, and we returned $332 million to shareholders through stock buybacks and dividends throughout 2025.&#34;
JOYY Q4 revenue $582 million, up 5.9% year-over-year
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JOYY Group's revenue for the fourth quarter of 2025 was $582 million, an increase of 5.9% from $549 million in the same period last year and a 7.7% increase from $540 million in the previous quarter.
Among them, JOYY Group's live streaming revenue for the fourth quarter of 2025 was $389 million, a year-over-year decrease from $422 million in the same period last year, mainly due to adjustments in operational strategy and product features. The quarter-over-quarter growth was primarily due to improved user spending sentiment through a more diversified content ecosystem and effective localized operations.
JOYY Group's advertising revenue for the fourth quarter of 2025 was $145.4 million, an increase of 62.4% from $89.6 million in the same period last year and a 29.3% increase from $112.5 million in the third quarter of 2025. The year-over-year and quarter-over-quarter growth was due to the advertising performance of BIGO Ads, benefiting from expanded traffic, market focus, vertical diversification, and improved algorithm performance, which enhanced advertising delivery efficiency and advertiser spending
JOYY Group's other income for Q4 2025 was $42.1 million, an increase of 12.3% compared to $37.5 million in the same period last year, and a growth of 7.2% from $39.2 million in Q3 2025, mainly benefiting from the continued stable growth of the company's e-commerce SaaS business.
JOYY's Q4 cost was $376.3 million, a year-on-year increase of 9%.
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JOYY Group's cost for Q4 2025 was $376.3 million, an increase of 9% compared to $345.7 million in the same period of 2024.
JOYY's Q4 gross profit was $200.56 million, with a gross margin of 35.3%.
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JOYY Group's gross profit for Q4 2025 was $205.6 million, compared to $203.8 million in the same period of 2024 and $193.1 million in Q3 2025. The gross margin for Q4 2025 was 35.3%, while it was 37.1% in the same period of 2024 and 35.8% in Q3 2025.
JOYY's Q4 operating profit was $18.27 million, with an operating profit margin of 3.1%.
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JOYY Group's operating profit for Q4 2025 was $18.27 million, compared to an operating loss of $427.9 million in the same period last year;
JOYY Group's Non-GAAP operating profit for Q4 2025 was $40.8 million, compared to $46.4 million in the same period last year; the Non-GAAP operating income profit margin for Q4 2025 was 7.0%, while it was 8.4% in the same period of 2024 and 7.5% in Q3 2025.
JOYY Group's Non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q4 2025 was $50.6 million, compared to $55.7 million in the same period of 2024 and $50.6 million in Q3 2025. The Non-GAAP EBITDA profit margin was 8.7%, while it was 10.1% in the same period of 2024 and 9.4% in Q3 2025
JOYY's Q4 net profit is $51.19 million, turning a profit compared to a loss last year
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In the fourth quarter of 2025, JOYY Group reported a net profit of $51.19 million, compared to a net loss of $387 million in the same period last year.
For the fourth quarter of 2025, the net profit attributable to JOYY Holdings' continuing operations was $54.3 million, while the net loss in the same period of 2024 was $304.1 million, and the net profit for the third quarter of 2025 was $62 million.
The net profit margin for JOYY Group in the fourth quarter of 2025 was 9.3%, compared to a net loss margin of 55.4% in the same period of 2024, and a net profit margin of 11.5% in the third quarter of 2025.
As of December 31, 2025, JOYY Group had net cash of $3.258 billion, compared to $3.2759 billion as of December 30, 2024. In the fourth quarter of 2025, net cash generated from operating activities was $116 million.
JOYY Group expects net revenue for the first quarter of 2026 to be between $538 million and $548 million.
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JOYY

JOYY Inc. (NASDAQ: JOYY) released its 2025 financial report, with revenue reaching $2.124 billion, a year-on-year increase of 5.9%. Among this, live streaming revenue was $1.53 billion, and advertising revenue was $443 million. The net profit was $223 million, and the Non-GAAP net profit was $283 million. The company repurchased approximately 2.4 million ADS for a total consideration of $134.6 million and plans to distribute a cash dividend of $600 million, expecting to pay a cash dividend of $0.99 per ADS. In addition, the board approved an additional cash dividend of $20 million

JOYY quarterly report infographic: Revenue of $580 million, a year-on-year increase of 5.9%, net profit of $51.19 million