JOYY Inc Reports Q2 2025 Earnings: Revenue Up 2.7%, Non-GAAP Operating Profit Grows 27.9%, Net Cash Reaches $3.3 Billion

JOYY Inc reported Q2 2025 revenue of $507.8 million, a 2.7% QoQ increase, with non-GAAP operating profit of $38.3 million, a 27.9% YoY growth. Non-GAAP EBITDA reached $48.2 million, a 25.7% YoY growth. Livestreaming revenue was stable QoQ, while BIGO Ads revenue grew 29% YoY. Net cash stood at $3.3 billion as of June 30, 2025. The company provided Q3 2025 revenue guidance of $525 million to $539 million.

JOYY Inc. (NASDAQ: JOYY) reported its unaudited financial results for the second quarter of 2025, showcasing robust performance across its business segments. The company's total revenue reached $507.8 million, representing a 2.7% quarter-over-quarter (QoQ) increase, and a 25.6% year-over-year (YoY) growth in non-livestreaming revenue [1].

Key highlights of the quarter include a significant increase in operating income and non-GAAP EBITDA. Operating income stood at $5.8 million, a 155.4% YoY increase, while non-GAAP EBITDA reached $48.2 million, up 25.7% YoY. The company's net income from continuing operations attributable to JOYY was $60.8 million, marking a 16.8% YoY increase. Additionally, the company maintained a strong balance sheet, with net cash of $3.3 billion as of June 30, 2025 [1].

The company's livestreaming business, represented by BIGO Live, experienced stable QoQ growth, with revenue reaching $375.4 million. The number of users on BIGO Live increased by 2.3% QoQ, and the 30-day ROI from new devices improved by 4.4% sequentially. The company's instant messaging product (IM) also saw strong organic growth, with MAUs increasing by 3.4 million during the quarter [1].

BIGO Ads, JOYY's ad tech business, emerged as a significant growth engine, contributing 26.1% of total revenues. BIGO Ads revenue grew approximately 29% YoY and 9% QoQ, driven by robust growth across various channels, including IAA, IAP, and Web-based channels. The company's global network infrastructure and tech capabilities provided cost advantages, enabling it to scale its ad tech business effectively [1].

Looking ahead, JOYY provided Q3 2025 revenue guidance of $525 million to $539 million, reflecting the company's confidence in its growth trajectory. The company's multi-engine growth strategy, which includes expansion of its traffic, rising advertiser demand, and optimization of algorithms, is expected to drive further growth in advertisers' demand and publisher traffic [1].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250826cn59927/joyy-reports-second-quarter-2025-financial-results-ad-tech-business-gained-momentum-with-non-livestreaming-revenue-growing-25-6-yoy