The following is a summary of the JOYY Inc. (YY) Q3 2024 Earnings Call Transcript:

Financial Performance:

• JOYY Inc. reported Q3 2024 group revenue of $558.7 million, a slight decrease from the previous year.

• BIGO segment revenue was $496 million, with non-livestreaming revenue growing 15.5% sequentially to $78.2 million largely due to increased advertising revenues in Europe and North America.

• Gross profit was $208.1 million with a gross margin of 37.3%; BIGO's gross margin stood at 37%.

• Group's GAAP operating income was $16.4 million, up by 623.5% from the previous quarter.

• GAAP net income for JOYY was $60.6 million, with a net margin of 10.8%.

Business Progress:

• Continued advancement of globalization strategy, enriching user interactions and monitoring content quality across different languages.

• Introduced AI-powered real-time caption translation setting new global content guidelines.

• Significant focus on Developed Countries leading to consistent year-over-year and sequential user growth in the region.

• Redirected resources towards new social livestreaming products to enhance Likee's core market monetization.

Opportunities:

• Strong focus and successful revenue growth in Developed Countries highlight an effective market expansion strategy.

• Robust advertising revenue growth from both BIGO and Likee shows considerable potential in product innovation and diversified revenue streams.

Risks:

• Anticipated short-term fluctuations in BIGO's live streaming revenues due to proactive adjustments in content and product features, which may impact the operating margin in the short term.

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