Joyy Inc Reports Results For The Quarter Ended In March: Earnings Summary

JOYY

29/05/2024 03:35

* JOYY Inc  YY.OQ  reported quarterly adjusted earnings of
$1.02​​
per share for the quarter ended in March, higher than the same
quarter last year, when the company reported EPS of 64 cents. 
The mean expectation of two analysts for the quarter was
for earnings of 81 cents per share. Wall Street expected
results to range from 78 cents to 84 cents per share.
    * Revenue fell 3.3% to $564.56 million from a year ago;
analysts
expected $552.67 million. 
    * The company reported quarterly net income of $44.94
million.
    * JOYY Inc shares had risen by 5.8% this quarter and
lost 18.0% so
far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the online
services
peer group is also "buy"

Wall Street's median 12-month price target for JOYY Inc is
$43.50 
This summary was machine generated from LSEG data May 29 at
02:34 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.81           1.02           Beat
 Dec. 31 2023      0.77           1.01           Beat
 Sep. 30 2023      0.69           1.22           Beat
 Jun. 30 2023      0.40           1.29           Beat