Stock Track | JOYY Inc. Surges 5.6% in Pre-Market After Q3 Earnings Beat, Strong Profit and Buybacks

Stock Track

Nov 27, 2024

JOYY Inc. (NASDAQ:YY), a global technology company, saw its stock soar 5.6% in pre-market trading on Wednesday following its third quarter 2024 earnings release. While the company's revenue of $558.7 million missed estimates, it reported an adjusted earnings per ADS of $1.07, beating consensus expectations of $0.94.

Despite a 1.5% year-over-year decline in revenue, JOYY delivered solid profitability in Q3. The company posted a net profit of $60.6 million and a non-GAAP net profit of $61.2 million, representing respective net margins of 10.8% and 10.9%. JOYY's core BIGO segment also saw improvement in operating income, both on a GAAP and non-GAAP basis.

A major positive for JOYY was its aggressive share buyback program, with the company repurchasing $117.8 million worth of its shares during the quarter. This brought the total buybacks to $243.7 million over the first three quarters of 2024, underscoring management's confidence in the company's prospects.

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(NASDAQ:YY), a global technology company, saw its stock soar 5.6% in pre-market trading on Wednesday following its third quarter 2024 earnings release. While the company's revenue of $558.7 million missed estimates, it reported an adjusted earnings per ADS of $1.07, beating consensus expectations of $0.94.</p>\n\n<p>Despite a 1.5% year-over-year decline in revenue, JOYY delivered solid profitability in Q3. The company posted a net profit of $60.6 million and a non-GAAP net profit of $61.2 million, representing respective net margins of 10.8% and 10.9%. JOYY's core BIGO segment also saw improvement in operating income, both on a GAAP and non-GAAP basis.</p>\n\n<p>A major positive for JOYY was its aggressive share buyback program, with the company repurchasing $117.8 million worth of its shares during the quarter. This brought the total buybacks to $243.7 million over the first three quarters of 2024, underscoring management's confidence in the company's prospects.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | JOYY Inc. 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Surges 5.6% in Pre-Market After Q3 Earnings Beat, Strong Profit and Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-27 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>JOYY Inc. (NASDAQ:YY), a global technology company, saw its stock soar 5.6% in pre-market trading on Wednesday following its third quarter 2024 earnings release. While the company's revenue of $558.7 million missed estimates, it reported an adjusted earnings per ADS of $1.07, beating consensus expectations of $0.94.</p>\n\n<p>Despite a 1.5% year-over-year decline in revenue, JOYY delivered solid profitability in Q3. The company posted a net profit of $60.6 million and a non-GAAP net profit of $61.2 million, representing respective net margins of 10.8% and 10.9%. JOYY's core BIGO segment also saw improvement in operating income, both on a GAAP and non-GAAP basis.</p>\n\n<p>A major positive for JOYY was its aggressive share buyback program, with the company repurchasing $117.8 million worth of its shares during the quarter. This brought the total buybacks to $243.7 million over the first three quarters of 2024, underscoring management's confidence in the company's prospects.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"","article_id":"1153248026","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1153248026","pubTimestamp":1732714260,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"JOYY Inc. , a global technology company, saw its stock soar 5.6% in pre-market trading on Wednesday following its third quarter 2024 earnings release. While the company's revenue of $558.7 million missed estimates, it reported an adjusted earnings per ADS of $1.07, beating consensus expectations of $0.94.Despite a 1.5% year-over-year decline in revenue, JOYY delivered solid profitability in Q3. The company posted a net profit of $60.6 million and a non-GAAP net profit of $61.2 million, represent","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"股票追踪JOYY Inc.在第三季度盈利超出预期、强劲利润和回购后盘前飙升5.6%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YY":1},"content_text":"JOYY Inc. (NASDAQ:YY), a global technology company, saw its stock soar 5.6% in pre-market trading on Wednesday following its third quarter 2024 earnings release. While the company's revenue of $558.7 million missed estimates, it reported an adjusted earnings per ADS of $1.07, beating consensus expectations of $0.94.\nDespite a 1.5% year-over-year decline in revenue, JOYY delivered solid profitability in Q3. The company posted a net profit of $60.6 million and a non-GAAP net profit of $61.2 million, representing respective net margins of 10.8% and 10.9%. JOYY's core BIGO segment also saw improvement in operating income, both on a GAAP and non-GAAP basis.\nA major positive for JOYY was its aggressive share buyback program, with the company repurchasing $117.8 million worth of its shares during the quarter. This brought the total buybacks to $243.7 million over the first three quarters of 2024, underscoring management's confidence in the company's prospects.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}