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JOYY Inc. (YY) Q4 2023 Earnings Call Transcript

SINGAPORE, March 07, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company,” formerly known as YY Inc.), a global technology company, today announced that it plans to release its fourth quarter and full year 2023 financial results after the U.S. market closes on March 18, 2024.

There has been a recent breakout from the small caps. Jay Woods discusses this, as well as the significance of this week's inflation data.

The Senate Judiciary Committee's recent hearing has intensified the scrutiny on social media giants, including Meta Platforms (NASDAQ: META ) and TikTok, painting a grim reality of the platforms' impacts on youth. As the legislative hammer looms with potential regulations, the sentiment to dispose of social media stocks to sell grows.

Over the years, social media has turned from an internet curiosity to a marketing powerhouse. It gave businesses of various sizes an avenue to reach a wider audience and effectively market products.

JOYY should get a payout from Baidu for YY Live's profits while it was in Baidu's control. That could be $700 million. JOYY could spin off YY Live for $500 million. The vast majority of JOYY's business is outside of China. BIGO is generating cash offshore and growing. Bigo Live has been adding users steadily. Shopline is a hidden venture investment JOYY made 4 years ago and last year. JOYY's stake is worth $800 million based on my estimate.

JOYY Inc. (NASDAQ:YY ) Q3 2023 Earnings Conference Call November 29, 2023 9:00 PM ET Company Participants Jane Xie - Senior Manager, Investor Relations David Xueling Li - Chairman and CEO' Ting Li - Chief Operating Officer Alex Liu - Vice President, Finance Conference Call Participants Thomas Chong - Jefferies Brian Gong - Citi Yiwen Zhang - China Renaissance Lei Zhang - Bank of America Securities Operator Ladies and gentlemen, thank you for standing by. And welcome to the JOYY Incorporates' Third Quarter 2023 Earnings Call.

YY made it to the Zacks Rank #1 (Strong Buy) income stocks list on November 24, 2023.

JOYY (YY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

The mean of analysts' price targets for JOYY (YY) points to a 26.7% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.