Joyy reports Q4 EPS $1.01, consensus 77c

Reports Q4 revenue $569.8M, consensus $558.3M. Mr. David Xueling Li, CEO, commented, “2023 proved to be a year of progress. Our focus on continuous product enhancements, nimble operational strategies, and our strong execution yielded positive results, despite the prevailing macro challenges. Importantly, global average mobile MAUs have now resumed year-over-year growth for three consecutive quarters. Our relentless optimization of operational efficiency led to enhanced profitability for the third consecutive year. During the fourth quarter, BIGO sustained its top line recovery, with revenue increasing by 3.1% on an annual basis, driven by a steady 7.9% year-over-year growth in its number of paying users. As we move into 2024, globalization through localization remains our foremost strategy and the cornerstone of our global success. We will continue to cultivate our content and social ecosystems to steadily grow our thriving user community and reinforce our leadership in core geographic regions. We will dedicate our resources to build our core strengths, and carefully explore long-term growth opportunities. By driving innovations in both our products and operations, we expect to further diversify our revenue stream and capture long-term sustainable growth. We remain committed to creating and returning value to our shareholders, and our track record over the past three years is a testament to our long-term dedication.”