JOYY (NASDAQ:YY) Releases Quarterly Earnings Results

JOYY (NASDAQ:YY) released its quarterly earnings results on Wednesday. The information services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $1.01, Zacks reports. JOYY had a net margin of 9.02% and a return on equity of 4.64%.

JOYY Stock Down 1.7 %

Shares of YY traded down $0.81 during trading hours on Wednesday, reaching $46.88. 1,294,007 shares of the company traded hands, compared to its average volume of 444,920. The business has a fifty day moving average price of $45.75 and a 200-day moving average price of $39.89. JOYY has a 12-month low of $27.88 and a 12-month high of $55.31. The stock has a market capitalization of $2.52 billion, a P/E ratio of 14.16 and a beta of 0.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.