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SINGAPORE, May 26, 2026 /PRNewswire/ -- JOYY Inc. (NASDAQ: JOYY) ("JOYY" or the "Company"), a leading global technology company, today announced its unaudited financial results for the first quarter ended March 31, 2026.
In the first quarter, JOYY's globally diversified ecosystem continued to take shape, with its three business pillars—social entertainment, advertising, and e-commerce—bolstering one another in a self-reinforcing strategic flywheel. The Company's total revenues for the quarter grew 12.4% year over year to US$555.7 million, the highest year-over-year growth rate the Company has delivered in recent years. Social entertainment revenue was US$400.4 million, up 3.2% year over year, while the Company's second growth engine, BIGO Ads ad tech and SHOPLINE e-commerce, continued to scale with strong momentum. BIGO Ads contributed US$124.8 million, up 55.6% year over year, while SHOPLINE revenue increased 16.1% year over year to US$30.5 million. In the first quarter, non-GAAP[1] operating income and non-GAAP[1] EBITDA came in at US$38.0 million and US$45.7 million, up 22.5% and 13.2% year over year, respectively. Operating cash inflow for the quarter was US$46.0 million.
Simultaneously, JOYY announced a new share repurchase program, under which the Company is authorized to repurchase up to US$600 million of its shares until the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program, totaling US$1.5 billion, represents a significant increase compared to the previous program (US$900 million) announced in 2025. From January 1 to May 22, 2026, JOYY had returned a total of US$156.8 million to shareholders through US$87.9 million in share repurchases and US$68.9 million in dividends, under its 2025 program.
Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "We delivered a strong start to 2026. Total revenues for the first quarter reached US$555.7 million, up by 12.4% year over year, our strongest year-over-year growth rate in recent years. This quarter marks the first time we are reporting results under our new three-segment structure: Social Entertainment, BIGO Ads, and SHOPLINE. Our AI-driven globally diversified ecosystem is taking shape with social entertainment, advertising, and e-commerce reinforcing one another in a powerful strategic flywheel. With AI serving as the backbone of our entire operations—driving content recommendation, advertising efficiency, and merchant intelligence across all three segments—our business pillars form a closed-loop system that deepens our competitive moat and drives long-term value creation for JOYY and our shareholders."
First Quarter 2026 Financial Highlights
- Net revenues in the first quarter of 2026 were US$555.7 million, representing an increase of 12.4% from US$494.4 million in the first quarter of 2025.
- Social Entertainment revenue increased by 3.2% to US$400.4 million from US$387.8 million in the first quarter of 2025.
- BIGO Ads revenue increased by 55.6% to US$124.8 million from US$80.2 million in the first quarter of 2025.
- SHOPLINE revenue increased by 16.1% to US$30.5 million from US$26.3 million in the first quarter of 2025.
- Operating income was US$6.8 million.
- Non-GAAP[1] operating income was US$38.0 million, representing an increase of 22.5% from US$31.0 million in the first quarter of 2025.
- Non-GAAP[1] EBITDA was US$45.7 million, representing an increase of 13.2% from US$40.4 million in the first quarter of 2025.
- Net cash as of March 31, 2026 was US$3,175.1 million.
- Net cash from operating activities was US$46.0 million.
First Quarter 2026 Business Highlights
Social Entertainment Business
In the first quarter, global average mobile MAUs reached 276.3 million, up 6.1% year over year and 1.5% quarter over quarter. Social entertainment revenue increased by 3.2% year over year to US$400.4 million, with livestreaming revenue up 2.4% year over year. Core livestreaming paying users grew 5.9% year over year.
For flagship product Bigo Live, the Company improved its streamer incentive structure, launched targeted support programs for high-quality content categories, and integrated new AI capabilities. These initiatives drove ongoing gains in both content engagement and payment conversion. Number of active streamers increased 1.5% quarter over quarter, and average effective streaming hours per streamer rose 1.4% quarter over quarter. The Company has now fully rolled out AI smart tools for streamers across core markets, meaningfully improving interaction efficiency. In April, AI-generated interactive virtual gifts accounted for 34% of total virtual gift consumption on Bigo Live.
On the operating side, Bigo Live successfully hosted BIGO Awards Gala 2026 in South Korea along with regional galas in countries including Indonesia and the Philippines during the first quarter. These events underscore Bigo Live's continued commitment to recognizing creator excellence, strengthening regional creator ecosystems, and connecting diverse communities worldwide. Bigo Live continued to pursue content innovation and successfully launched the inaugural BIGO Content Award in North America, drawing over 300 top-tier, highly active streamers to drive measurable growth in DAUs and user retention. Additionally, Bigo Live launched a Ramadan-themed initiative featuring a digital revival of traditional content, which drove user engagement during a key cultural period and reinforced its capability to deliver scalable and localized content experiences across diverse markets.
BIGO Ads Advertising Technology Business
In the first quarter, broader traffic coverage, multi-vertical advertiser expansion, and ongoing algorithm optimization fueled the growth momentum of JOYY's ad tech business. BIGO Ads generated US$124.8 million in advertising revenue, up 55.6% year over year, with third-party Audience Network ad revenue delivering 78.8% year-over-year growth.
On the supply side, SDK traffic maintained strong growth, up 109% year over year in the first quarter. On the demand side, the Company's strategic presence across multiple verticals drove an enrichment of its advertiser mix and enhanced ecosystem density. This multi-vertical approach not only accelerated data accumulation and algorithmic iteration, but also strengthened its traffic bidding capabilities. Notably, web-based demand grew 90% year over year and delivered positive sequential growth, while IAA demand sustained 97% year-over-year growth. Geographically, BIGO Ads continued to prioritize high-value developed markets. North America remains its largest market, while Western Europe delivered notable momentum, with revenue up 27% quarter over quarter.
On the algorithm side, BIGO Ads is steadily and prudently scaling its computing infrastructure and strengthening its R&D talent base. By integrating data feedback from advertisers across channels and leveraging the dual growth of traffic scale and advertiser density, BIGO Ads has built a rich behavioral data layer. This enables multi-dimensional, precise user profiling and real-time model iteration, which in turn improves ad delivery efficiency.
SHOPLINE E-Commerce Business
In the first quarter, SHOPLINE delivered strong results. Revenue was US$30.5 million, up 16.1% year over year, with gross margin expanding further to 51.5%. Revenue growth from cross-border merchants remained robust, sustaining over 60% year-over-year growth. This is the first quarter the Company is reporting SHOPLINE as a standalone segment, underscoring the Company's diversified growth.
As global commerce enters the omnichannel era, merchants increasingly desire autonomy and full-funnel data ownership. The Company is building SHOPLINE as an AI-native, one-stop omnichannel commerce infrastructure that offers merchants a fully open and connectable retail operating system. Through deep integration of payment, logistics, and marketing modules, SHOPLINE empowers merchants across every stage of their journey, from store setup and transactions to fulfillment and full-lifecycle customer retention.
SHOPLINE is accelerating the integration of a suite of AI-powered capabilities. These tools will drive SHOPLINE's evolution from an enablement tool to an AI-driven commerce engine. AI-powered traffic allocation and automated decision-making will unlock new growth opportunities and new levels of precision across omnichannel retail.
- This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports First Quarter 2026 Unaudited Financial Results" issued by the Company on May 26, 2026.
SINGAPORE, May 26, 2026 /PRNewswire/ -- JOYY Inc. (NASDAQ: JOYY) ("JOYY" or the "Company"), a leading global technology company, today announced its unaudited financial results for the first quarter ended March 31, 2026.
In the first quarter, JOYY's globally diversified ecosystem continued to take shape, with its three business pillars—social entertainment, advertising, and e-commerce—bolstering one another in a self-reinforcing strategic flywheel. The Company's total revenues for the quarter grew 12.4% year over year to US$555.7 million, the highest year-over-year growth rate the Company has delivered in recent years. Social entertainment revenue was US$400.4 million, up 3.2% year over year, while the Company's second growth engine, BIGO Ads ad tech and SHOPLINE e-commerce, continued to scale with strong momentum. BIGO Ads contributed US$124.8 million, up 55.6% year over year, while SHOPLINE revenue increased 16.1% year over year to US$30.5 million. In the first quarter, non-GAAP[1] operating income and non-GAAP[1] EBITDA came in at US$38.0 million and US$45.7 million, up 22.5% and 13.2% year over year, respectively. Operating cash inflow for the quarter was US$46.0 million.
Simultaneously, JOYY announced a new share repurchase program, under which the Company is authorized to repurchase up to US$600 million of its shares until the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program, totaling US$1.5 billion, represents a significant increase compared to the previous program (US$900 million) announced in 2025. From January 1 to May 22, 2026, JOYY had returned a total of US$156.8 million to shareholders through US$87.9 million in share repurchases and US$68.9 million in dividends, under its 2025 program.
Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "We delivered a strong start to 2026. Total revenues for the first quarter reached US$555.7 million, up by 12.4% year over year, our strongest year-over-year growth rate in recent years. This quarter marks the first time we are reporting results under our new three-segment structure: Social Entertainment, BIGO Ads, and SHOPLINE. Our AI-driven globally diversified ecosystem is taking shape with social entertainment, advertising, and e-commerce reinforcing one another in a powerful strategic flywheel. With AI serving as the backbone of our entire operations—driving content recommendation, advertising efficiency, and merchant intelligence across all three segments—our business pillars form a closed-loop system that deepens our competitive moat and drives long-term value creation for JOYY and our shareholders."
First Quarter 2026 Financial Highlights
- Net revenues in the first quarter of 2026 were US$555.7 million, representing an increase of 12.4% from US$494.4 million in the first quarter of 2025.
- Social Entertainment revenue increased by 3.2% to US$400.4 million from US$387.8 million in the first quarter of 2025.
- BIGO Ads revenue increased by 55.6% to US$124.8 million from US$80.2 million in the first quarter of 2025.
- SHOPLINE revenue increased by 16.1% to US$30.5 million from US$26.3 million in the first quarter of 2025.
- Operating income was US$6.8 million.
- Non-GAAP[1] operating income was US$38.0 million, representing an increase of 22.5% from US$31.0 million in the first quarter of 2025.
- Non-GAAP[1] EBITDA was US$45.7 million, representing an increase of 13.2% from US$40.4 million in the first quarter of 2025.
- Net cash as of March 31, 2026 was US$3,175.1 million.
- Net cash from operating activities was US$46.0 million.
First Quarter 2026 Business Highlights
Social Entertainment Business
In the first quarter, global average mobile MAUs reached 276.3 million, up 6.1% year over year and 1.5% quarter over quarter. Social entertainment revenue increased by 3.2% year over year to US$400.4 million, with livestreaming revenue up 2.4% year over year. Core livestreaming paying users grew 5.9% year over year.
For flagship product Bigo Live, the Company improved its streamer incentive structure, launched targeted support programs for high-quality content categories, and integrated new AI capabilities. These initiatives drove ongoing gains in both content engagement and payment conversion. Number of active streamers increased 1.5% quarter over quarter, and average effective streaming hours per streamer rose 1.4% quarter over quarter. The Company has now fully rolled out AI smart tools for streamers across core markets, meaningfully improving interaction efficiency. In April, AI-generated interactive virtual gifts accounted for 34% of total virtual gift consumption on Bigo Live.
On the operating side, Bigo Live successfully hosted BIGO Awards Gala 2026 in South Korea along with regional galas in countries including Indonesia and the Philippines during the first quarter. These events underscore Bigo Live's continued commitment to recognizing creator excellence, strengthening regional creator ecosystems, and connecting diverse communities worldwide. Bigo Live continued to pursue content innovation and successfully launched the inaugural BIGO Content Award in North America, drawing over 300 top-tier, highly active streamers to drive measurable growth in DAUs and user retention. Additionally, Bigo Live launched a Ramadan-themed initiative featuring a digital revival of traditional content, which drove user engagement during a key cultural period and reinforced its capability to deliver scalable and localized content experiences across diverse markets.
BIGO Ads Advertising Technology Business
In the first quarter, broader traffic coverage, multi-vertical advertiser expansion, and ongoing algorithm optimization fueled the growth momentum of JOYY's ad tech business. BIGO Ads generated US$124.8 million in advertising revenue, up 55.6% year over year, with third-party Audience Network ad revenue delivering 78.8% year-over-year growth.
On the supply side, SDK traffic maintained strong growth, up 109% year over year in the first quarter. On the demand side, the Company's strategic presence across multiple verticals drove an enrichment of its advertiser mix and enhanced ecosystem density. This multi-vertical approach not only accelerated data accumulation and algorithmic iteration, but also strengthened its traffic bidding capabilities. Notably, web-based demand grew 90% year over year and delivered positive sequential growth, while IAA demand sustained 97% year-over-year growth. Geographically, BIGO Ads continued to prioritize high-value developed markets. North America remains its largest market, while Western Europe delivered notable momentum, with revenue up 27% quarter over quarter.
On the algorithm side, BIGO Ads is steadily and prudently scaling its computing infrastructure and strengthening its R&D talent base. By integrating data feedback from advertisers across channels and leveraging the dual growth of traffic scale and advertiser density, BIGO Ads has built a rich behavioral data layer. This enables multi-dimensional, precise user profiling and real-time model iteration, which in turn improves ad delivery efficiency.
SHOPLINE E-Commerce Business
In the first quarter, SHOPLINE delivered strong results. Revenue was US$30.5 million, up 16.1% year over year, with gross margin expanding further to 51.5%. Revenue growth from cross-border merchants remained robust, sustaining over 60% year-over-year growth. This is the first quarter the Company is reporting SHOPLINE as a standalone segment, underscoring the Company's diversified growth.
As global commerce enters the omnichannel era, merchants increasingly desire autonomy and full-funnel data ownership. The Company is building SHOPLINE as an AI-native, one-stop omnichannel commerce infrastructure that offers merchants a fully open and connectable retail operating system. Through deep integration of payment, logistics, and marketing modules, SHOPLINE empowers merchants across every stage of their journey, from store setup and transactions to fulfillment and full-lifecycle customer retention.
SHOPLINE is accelerating the integration of a suite of AI-powered capabilities. These tools will drive SHOPLINE's evolution from an enablement tool to an AI-driven commerce engine. AI-powered traffic allocation and automated decision-making will unlock new growth opportunities and new levels of precision across omnichannel retail.
- This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company's performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled "JOYY Reports First Quarter 2026 Unaudited Financial Results" issued by the Company on May 26, 2026.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
JOYY Reports First Quarter 2026 Financial Results: Total Revenue Up 12.4% YoY, Substantially Expanding Shareholder Returns
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MANILA, Philippines, May 26, 2026 /PRNewswire/ -- The Philippines continues to strengthen its position as a rising Muslim-friendly destination in Asia, welcoming travelers from the Middle East and the wider Muslim world through a growing ecosystem of halal- and Muslim-friendly tourism experiences. This momentum is further complemented by the country's strong tourism and cultural ties with neighboring Muslim-majority countries such as Brunei, Indonesia, and Malaysia under the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA).
Recently recognized by Mastercard-CrescentRating as a rising Muslim-friendly destination and ranked 8th among non-OIC destinations in the 2025 Global Muslim Travel Index (GMTI), the Philippines continues to gain international recognition for its efforts in advancing halal- and Muslim-friendly tourism. Across the archipelago, travelers can now experience a growing range of accommodations, halal-certified dining establishments, cultural attractions, and tourism services designed to support the faith-based needs of Muslim travelers while offering authentic cultural and heritage experiences.
Beyond tourism infrastructure, the Philippines is also investing in workforce development, destination preparedness, and cultural awareness initiatives to strengthen the delivery of halal and Muslim-friendly tourism services nationwide. The Department of Tourism (DOT) continues to support this growth through the implementation of its Muslim-Friendly Accommodation Establishment (MFAE) Recognition Program across hotels and tourism establishments, while also encouraging halal certification among restaurants, accommodations, and tourism service providers throughout the country.
Growing Halal Travel Infrastructure and Experiences
Muslim-friendly tourism infrastructure continues to expand across the Philippines, supported by the DOT's nationwide halal tourism development initiatives. To date, the DOT has officially recognized 67 Muslim-Friendly Accommodation Establishments (MFAEs) across the country, reflecting the Philippines' continuing commitment to strengthening its halal and Muslim-friendly tourism ecosystem. Leading this effort is Megaworld Hotels & Resorts, the first hotel chain in the Philippines to achieve 100% MFAE recognition across all of its properties, further reinforcing the country's growing portfolio of Muslim-friendly accommodations.
Alongside infrastructure development, the Philippines also takes pride in strengthening the cultural awareness and preparedness of its tourism workforce. Through various training and capacity-building initiatives conducted by the DOT, an estimated 3,000 tourism frontliners and stakeholders nationwide have received specialized training on the fundamentals of halal, understanding Muslim travelers and guests, and the importance of culturally sensitive and respectful service. Among the country's leading destinations, Boracay continues to strengthen its position as a Muslim-friendly island destination through initiatives such as Marhaba Boracay, which features an 800-square-meter beach cove dedicated for Muslim families. Boracay, Cebu, Cagayan de Oro, Davao City, and Metro Manila continue to feature a growing number of halal-certified dining establishments, prayer facilities, and tourism services designed to support the needs and comfort of Muslim travelers.
Beyond accommodations and dining, the Philippines offers Muslim travelers opportunities to experience the country's rich cultural diversity through heritage tours, island and nature experiences, vibrant local communities, and visits to Islamic heritage sites across Mindanao. From pristine beaches and tropical islands to dynamic urban centers and cultural destinations, the country continues to position itself as a welcoming destination where Muslim travelers can enjoy meaningful journeys grounded in hospitality, inclusivity, and cultural understanding.
Strategic Engagement with Muslim Travel Markets
The Department of Tourism continues to strengthen its engagement with key Muslim travel markets, including the Middle East and neighboring Muslim-majority countries such as Brunei, Indonesia, and Malaysia. Through international promotions, tourism collaborations, targeted destination campaigns, and the Muslim-Friendly Travelogue of the Philippines, the country continues to highlight its expanding tourism offerings, accessibility, and commitment to inclusive travel experiences. The three-volume travelogue series showcases the Philippines through curated features on halal and local cuisine, diverse tourism destinations, and the country's growing Muslim-friendly tourism initiatives and experiences.
Direct connectivity from key international gateways to destinations such as Manila, Cebu, and Clark allows convenient access to the country's diverse tourism destinations, while domestic connectivity supports seamless multi-destination travel across the archipelago. As the global halal travel market continues to grow, the Philippines remains committed to offering travel experiences rooted in hospitality, cultural diversity, and respectful understanding of Muslim traditions and values.
For more information, visit the Department of Tourism Philippines' official website tourism.gov.ph.
Facebook - DOT Philippines | Instagram | X | Tiktok | Youtube
MANILA, Philippines, May 26, 2026 /PRNewswire/ -- The Philippines continues to strengthen its position as a rising Muslim-friendly destination in Asia, welcoming travelers from the Middle East and the wider Muslim world through a growing ecosystem of halal- and Muslim-friendly tourism experiences. This momentum is further complemented by the country's strong tourism and cultural ties with neighboring Muslim-majority countries such as Brunei, Indonesia, and Malaysia under the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA).
Recently recognized by Mastercard-CrescentRating as a rising Muslim-friendly destination and ranked 8th among non-OIC destinations in the 2025 Global Muslim Travel Index (GMTI), the Philippines continues to gain international recognition for its efforts in advancing halal- and Muslim-friendly tourism. Across the archipelago, travelers can now experience a growing range of accommodations, halal-certified dining establishments, cultural attractions, and tourism services designed to support the faith-based needs of Muslim travelers while offering authentic cultural and heritage experiences.
Beyond tourism infrastructure, the Philippines is also investing in workforce development, destination preparedness, and cultural awareness initiatives to strengthen the delivery of halal and Muslim-friendly tourism services nationwide. The Department of Tourism (DOT) continues to support this growth through the implementation of its Muslim-Friendly Accommodation Establishment (MFAE) Recognition Program across hotels and tourism establishments, while also encouraging halal certification among restaurants, accommodations, and tourism service providers throughout the country.
Growing Halal Travel Infrastructure and Experiences
Muslim-friendly tourism infrastructure continues to expand across the Philippines, supported by the DOT's nationwide halal tourism development initiatives. To date, the DOT has officially recognized 67 Muslim-Friendly Accommodation Establishments (MFAEs) across the country, reflecting the Philippines' continuing commitment to strengthening its halal and Muslim-friendly tourism ecosystem. Leading this effort is Megaworld Hotels & Resorts, the first hotel chain in the Philippines to achieve 100% MFAE recognition across all of its properties, further reinforcing the country's growing portfolio of Muslim-friendly accommodations.
Alongside infrastructure development, the Philippines also takes pride in strengthening the cultural awareness and preparedness of its tourism workforce. Through various training and capacity-building initiatives conducted by the DOT, an estimated 3,000 tourism frontliners and stakeholders nationwide have received specialized training on the fundamentals of halal, understanding Muslim travelers and guests, and the importance of culturally sensitive and respectful service. Among the country's leading destinations, Boracay continues to strengthen its position as a Muslim-friendly island destination through initiatives such as Marhaba Boracay, which features an 800-square-meter beach cove dedicated for Muslim families. Boracay, Cebu, Cagayan de Oro, Davao City, and Metro Manila continue to feature a growing number of halal-certified dining establishments, prayer facilities, and tourism services designed to support the needs and comfort of Muslim travelers.
Beyond accommodations and dining, the Philippines offers Muslim travelers opportunities to experience the country's rich cultural diversity through heritage tours, island and nature experiences, vibrant local communities, and visits to Islamic heritage sites across Mindanao. From pristine beaches and tropical islands to dynamic urban centers and cultural destinations, the country continues to position itself as a welcoming destination where Muslim travelers can enjoy meaningful journeys grounded in hospitality, inclusivity, and cultural understanding.
Strategic Engagement with Muslim Travel Markets
The Department of Tourism continues to strengthen its engagement with key Muslim travel markets, including the Middle East and neighboring Muslim-majority countries such as Brunei, Indonesia, and Malaysia. Through international promotions, tourism collaborations, targeted destination campaigns, and the Muslim-Friendly Travelogue of the Philippines, the country continues to highlight its expanding tourism offerings, accessibility, and commitment to inclusive travel experiences. The three-volume travelogue series showcases the Philippines through curated features on halal and local cuisine, diverse tourism destinations, and the country's growing Muslim-friendly tourism initiatives and experiences.
Direct connectivity from key international gateways to destinations such as Manila, Cebu, and Clark allows convenient access to the country's diverse tourism destinations, while domestic connectivity supports seamless multi-destination travel across the archipelago. As the global halal travel market continues to grow, the Philippines remains committed to offering travel experiences rooted in hospitality, cultural diversity, and respectful understanding of Muslim traditions and values.
For more information, visit the Department of Tourism Philippines' official website tourism.gov.ph.
Facebook - DOT Philippines | Instagram | X | Tiktok | Youtube
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
The Philippines Sets a New Standard in Muslim-Friendly Tourism
