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JOYY | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Mar 21 10:03

Summary by Moomoo AI

JOYY reported Q4 2024 net revenues of $549.4M, down from $569.8M YoY. The company recorded a net loss of $304.1M, compared to net income of $45.8M in Q4 2023, primarily due to a $454.9M non-cash goodwill impairment charge. Excluding this impact, adjusted net income was $71.1M. Non-GAAP net income rose to $96.1M from $64.2M YoY.For full year 2024, net revenues were $2.24B versus $2.27B in 2023. The company's non-GAAP operating income increased 4.2% YoY to $136.1M, while non-livestreaming revenues grew 55.9% to $449.8M. Global average mobile MAUs reached 263.1M, with Bigo Live at 33.4M MAUs.The board approved a new $300M share repurchase program through 2027 and introduced a quarterly dividend program totaling $600M over three years. The company will pay its first quarterly dividend of $0.93 per ADS on April 30, 2025. Additionally, JOYY completed the YY Live sale to Baidu for $2.1B, receiving the final $240M payment in February 2025.
JOYY reported Q4 2024 net revenues of $549.4M, down from $569.8M YoY. The company recorded a net loss of $304.1M, compared to net income of $45.8M in Q4 2023, primarily due to a $454.9M non-cash goodwill impairment charge. Excluding this impact, adjusted net income was $71.1M. Non-GAAP net income rose to $96.1M from $64.2M YoY.For full year 2024, net revenues were $2.24B versus $2.27B in 2023. The company's non-GAAP operating income increased 4.2% YoY to $136.1M, while non-livestreaming revenues grew 55.9% to $449.8M. Global average mobile MAUs reached 263.1M, with Bigo Live at 33.4M MAUs.The board approved a new $300M share repurchase program through 2027 and introduced a quarterly dividend program totaling $600M over three years. The company will pay its first quarterly dividend of $0.93 per ADS on April 30, 2025. Additionally, JOYY completed the YY Live sale to Baidu for $2.1B, receiving the final $240M payment in February 2025.
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