JOYY INC Reports First Quarter FY2023 Financial Results
June 24, 2023
🌥️Earnings Overview
JOYY INC ($NASDAQ:YY)’s financial results for the first quarter of FY2023 ending May 31 2023 revealed total revenue of USD 583.6 million, a 6.4% decrease from the prior year. Net income was USD 28.0 million, a positive shift from the losses of -27.5 million reported in the same quarter of the previous year. These results were reported on March 31 2023.
Stock Price
However, the stock opened at $26.9 and closed at $24.8, representing a 7.8% decline from the previous closing price of $26.9. However, despite these challenges, JOYY INC remains committed to providing innovative solutions to their customers and investors, and remain confident that they will meet their goals for the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Joyy Inc. More…
| Total Revenues | Net Income | Net Margin |
| 2.37k | 174.61 | -11.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Joyy Inc. More…
| Operations | Investing | Financing |
| 316.49 | -510.28 | -321.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Joyy Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.11k | 3.69k | 75.47 |
Key Ratios Snapshot
Some of the financial key ratios for Joyy Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -15.6% | -13.8% | 28.7% |
| FCF Margin | ROE | ROA |
| 10.4% | 8.2% | 4.7% |
Analysis
GoodWhale has conducted an analysis of JOYY INC‘s wellbeing, and according to our Risk Rating, JOYY INC is a medium risk investment when considering both its financial and business aspects. We have detected one warning in the income sheet, and urge you to register with us to get more detailed information regarding this specific risk warning. At GoodWhale, we understand the importance of assessing the risk factors associated with any type of investment, and we also recognize the need to assess investments in terms of financial and business aspects. It is for these reasons that we have developed our Risk Rating system. Through this system, we can help investors identify potential risks associated with a particular investment before committing to it. In the case of JOYY INC, our system has identified it as a medium risk investment. We encourage you to register with us so that you can access more detailed information about the specific risk warning that we have detected in the income sheet. We believe that our Risk Rating system can help you make an informed decision when it comes to your investments. More…
Peers
The company operates a number of online platforms, including Youku Tudou, YY Live, and Bigo Live. JOYY Inc‘s main competitors are Grom Social Enterprises Inc, IL2M International Corp, and Lizhi Inc. All three companies are based in the United States.
– Grom Social Enterprises Inc ($NASDAQ:GROM)
Grom Social Enterprises Inc is a social media company that operates in the children’s market. The company has a market capitalization of 6.82 million and a return on equity of -24.49%. The company’s products and services are aimed at children and families. The company was founded in 2010 and is headquartered in Boca Raton, Florida.
– IL2M International Corp ($OTCPK:ILIM)
IL2M International Corp is a publicly traded company with a market cap of 366.35k as of 2022. The company has a Return on Equity of 1203.09%. IL2M International Corp is a holding company that operates in the e-commerce, digital media, and entertainment industries. The company was founded in 2006 and is headquartered in Los Angeles, California.
– Lizhi Inc ($NASDAQ:LIZI)
Lizhi Inc. is a leading audio content platform in China with over 10 years of experience. The company has a market cap of 21.24M as of 2022 and a Return on Equity of 1.81%. Lizhi Inc. provides an innovative and convenient way for people to listen to audio content and connect with others. The company’s mission is to use the power of audio to bring people together and make the world a more connected place.
Summary
Investors in JOYY INC had mixed reactions to the financial results reported for the first quarter of FY2023. Total revenue for the quarter was USD 583.6 million, a 6.4% decrease from the prior year.
However, net income rose significantly from -27.5 million to USD 28.0 million, a strong recovery from the same quarter of the prior year. Despite the strong earnings figures, the stock price moved down the same day, indicating that investors were not entirely impressed with the results. Given the mixed results, analysts suggest investors assess JOYY INC’s future prospects before making any decisions on investments.
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