In the first quarter, JOYY’s total revenue reached US$555.7 million, up 12.4% year-on-year, representing the company’s highest year-on-year growth rate in recent years. Social entertainment revenue increased 3.2% year over year to US$400.4 million. The company’s other growth engines, BIGO Ads, ad tech and SHOPLINE e-commerce, maintained strong growth momentum. BIGO advertising revenue reached US$124.8 million, an increase of 55.6% year-on-year, while SHOPLINE contributed US$30.5 million, an increase of 16.1% year-on-year.
In the first quarter, the company’s non-GAAP1 operating income increased 22.5% year over year to US$38.0 million, while non-GAAP1 EBITDA increased 13.2% year over year to US$45.7 million. Operating cash flow for the quarter was US$46.0 million. Net cash as of March 31, 2026 stood at US$3.18 billion.
Additionally, JOYY announced a new share repurchase program, under which the company is authorized to repurchase up to US$600 million of its shares through the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million of cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program amounts to approximately US$1.5 billion, underscoring JOYY’s confidence. In its long-term growth potential.
- This press release includes certain non-GAAP financial measures as additional clarifying items to assist investors in understanding the impact these items and events may have on the Company’s performance and financial results. The non-GAAP financial measures described above should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. For details of non-GAAP measures, including reconciliations of GAAP measures to non-GAAP measures, please see the press release titled “JOI Reports First Quarter 2026 Unaudited Financial Results” issued by the Company on May 26, 2026.