Joyy reports Q3 revenue $567.1M, consensus $542.89M

David Xueling Li, chairman and CEO of Joyy, commented, “Effective execution of our operational strategies to optimize users’ content and social experiences drove BIGO’s enhanced user engagement and monetization. At the group level, our global average mobile MAUs grew by 2.6% year over year to 276.8 million in the third quarter. Notably, Bigo Live’s MAUs maintained its strong growth trajectory, increasing by 14% year over year to 40.3 million. BIGO’s number of paying users experienced a steady increase of 6.6% year over year, with ARPPU (Average Revenue Per Paying User) also improving sequentially during the quarter. Moving forward, we remain committed to our long-term, targeted strategy to pursue high-quality growth. We will continue to explore ways to innovate across our products and operations, and drive the steady recovery of our global business with a continued focus on improving operating cash flows. We will further concentrate our resources on building our core strengths and global businesses that align with our long-term strategies, and effectively pursue growth opportunities.”