YY Stock Recent News

SINGAPORE, March 20, 2025 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced its unaudited financial results for the fourth quarter and full year of 2024.

SINGAPORE, Feb. 25, 2025 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced that JOYY entered into agreements with Baidu, Inc. (NASDAQ: BIDU) (“Baidu”) with respect to the sale of the video-based entertainment live streaming business in mainland China previously owned by the Company (known as YY Live), for an aggregate purchase price of approximately US$2.1 billion in cash. The Company previously received approximately US$1.86 billion in February 2021, and, today, the Company received additional cash consideration of approximately US$240 million.

JOYY's second quarter results release in late August is unlikely to throw up positive surprises, as I think that YY's Q2 performance will be as weak as what the market expects. On the other hand, YY had indicated that it might buy back more of its own shares in the second quarter of the current year. I stick with my existing Hold rating for YY, after taking into consideration JOYY's expected second quarter results and the possibility of more aggressive buybacks.

JOYY Inc.'s outlook for 2023 is unfavorable, considering expectations of marginal revenue expansion and operating margin compression. But corporate actions like sustained shareholder capital return and the completion of YY Live's divestment are potential re-rating catalysts for JOYY.