Joyy reports Q3 revenue $586.7M, consensus $607.98M

As of September 30, Joyy had cash and cash equivalents, restricted cash and cash equivalents, short-term deposits, restricted short-term deposits and short-term investments of $4.28B. David Xueling Li, chairman and CEO of Joyy, commented, "Our forward-looking strategic planning and effective execution of our optimization measures delivered another quarter of improved profitability in spite of the volatile macro environment. We continued to execute on our long-term growth strategy, focusing on product upgrades and emphasizing diverse localized content offerings. As a result, we achieved a steady and efficient expansion of Bigo Live’s user community, growing Bigo Live’s MAUs by 14.2% year over year to 35.4 million."