JOYY Reports Second Quarter 2026 Financial Results: Total Revenues Increase to US$590.8 Million, Driven by Growth Across Core Businesses
Rhea-AI Summary
JOYY (NASDAQ: JOYY) reported unaudited second quarter 2026 financial results with total revenues of US$590.8 million, up 16.3% year over year and 6.3% quarter over quarter. Social Entertainment revenue reached US$422.7 million (+7.4% YoY), BIGO Ads US$133.7 million (+53.1% YoY), and SHOPLINE US$34.4 million (+28.6% YoY). Non-livestreaming revenue made up 31.8% of total revenue.
Non-GAAP operating income was US$49.1 million (+28.2% YoY) and non-GAAP EBITDA was US$56.9 million (+18.1% YoY). Operating cash inflow was US$64.9 million, with net cash of US$3.06 billion at June 30, 2026. According to JOYY, full-year 2026 non-GAAP operating income is now expected to grow about 20% YoY. The company updated a US$1.5 billion shareholder return program through 2028 and has returned US$358.8 million via buybacks and dividends in 2026 year-to-date.
Positive
- Total revenue US$590.8 million, +16.3% YoY and +6.3% QoQ
- BIGO Ads revenue US$133.7 million, +53.1% YoY
- SHOPLINE revenue US$34.4 million, +28.6% YoY
- Non-GAAP operating income US$49.1 million, +28.2% YoY
- Net cash balance US$3.06 billion as of June 30, 2026
- Shareholder returns US$358.8 million via buybacks and dividends YTD 2026
- 2026 non-GAAP operating income guidance ~20% YoY growth
Negative
- None.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 25 | Q1 earnings report | Positive | +17.8% | Revenue growth and expanded shareholder return plan accompanied Q1 financial results. |
| May 25 | Q1 earnings report | Positive | +17.8% | Revenue growth, higher MAUs, cash reserves, and shareholder returns marked quarterly results. |
| Mar 10 | Q4 earnings report | Positive | +2.3% | Revenue growth, advertising momentum, profitability recovery, and year-end cash supported results. |
| Mar 10 | Q4 earnings report | Positive | +2.3% | Advertising growth and restored operating income featured in fourth-quarter financial results. |
| Nov 19 | Q3 earnings report | Positive | +6.3% | Advertising and livestreaming growth accompanied higher EBITDA and operating cash flow. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
JOYY's tag-specific earnings events were consistently followed by positive 24-hour price reactions, ranging from 2.26% to 17.77%.
Key Terms
non-gaap financial
ebitda financial
arppu financial
maus technical
sdk technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
In the second quarter, JOYY generated total revenues of
Supported by a better-than-expected operational performance in 1H26 and enhanced operating leverage from improved efficiency across its business segments, JOYY now expects the Group's non-GAAP1 operating income growth to accelerate to approximately
In May, JOYY updated its three-year shareholder return plan, establishing a
Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "Building on a strong start to the year, we delivered another solid result in the second quarter, recording revenue growth both year over year and quarter over quarter. Our Social Entertainment, BIGO Ads, and SHOPLINE businesses all advanced in tandem, while our globally diversified ecosystem continued to unlock growth momentum. AI is a foundational technology driving broader application and deeper integration across our core operations, fueling our multi-engine growth strategy. Looking ahead, as we continue to strengthen the core competitiveness and profitability profile of our three business segments, we expect to drive JOYY's long-term value creation into its next phase."
Second Quarter 2026 Financial Highlights
- Net revenues in the second quarter of 2026 were
US , representing an increase of$590.8 million 16.3% fromUS in the second quarter of 2025 and an increase of 6.3 % from$507.8 million US in the first quarter of 2026.$555.7 million
- Social Entertainment revenue was
- BIGO Ads revenue was
- SHOPLINE revenue was
- Operating income was
US , representing an increase of$13.8 million 138.1% fromUS in the second quarter of 2025, and an increase of$5.8 million 102% fromUS in the first quarter of 2026.$6.8 million
- Non-GAAP1 operating income was
US , representing an increase of$49.1 million 28.2% fromUS in the second quarter of 2025 and an increase of$38.3 million 29.4% fromUS in the first quarter of 2026.$38 million
- Non-GAAP1 EBITDA was
US , representing an increase of$56.9 million 18.1% fromUS in the second quarter of 2025 and an increase of$48.2 million 24.4% fromUS in the first quarter of 2026.$45.7 million
- Net cash as of June 30, 2026 was US$3,059.3 million.
- Net cash from operating activities was
US .$64.9 million
Second Quarter 2026 Business Highlights
Social Entertainment Business
In the second quarter, the Company's social entertainment business continued its steady growth momentum, with revenue increasing
Bigo Live, the Company's flagship product, recorded stronger sequential growth in the second quarter. This momentum was driven by ongoing enhancements to its streamer-incentive and growth mechanisms, a richer content ecosystem, and AI-powered improvements to content distribution and payment experiences. Together, these efforts effectively drove user engagement and greater willingness to pay. In the second quarter, Bigo Live's average daily active streamers increased
Bigo Live continues to develop and refine its AI-driven content understanding capabilities. In particular, its focus is on improving onboarding content for new users and deepening user consumption. Through effectively identifying and distributing high-quality content across regions, Bigo Live can better match content with users' interests, improving their consumption experiences. To improve payment experience, Bigo Live has been expanding its AI-generated content and interactive virtual gifts. In May, these gifts accounted for
On the operating side, Bigo Live has continued to strengthen its global ecosystem by leveraging cultural events, local activities, and content partnerships. During the second quarter, Bigo Live launched integrated online and offline campaigns around major cultural celebrations, including
In the MENA region, Bigo Live entered into a strategic partnership with MLBB to exclusively restream MPL MENA Season 9, further expanding its esports content portfolio and strengthening engagement with regional gaming communities. During the summer football season, Bigo Live launched a dedicated interactive content zone, leveraging football-themed content and creator-led activities to drive user engagement and foster greater community participation.
BIGO Ads Advertising Technology Business
In the second quarter, BIGO Ads generated revenue of
On the supply side, BIGO Ads' developer ecosystem and global traffic coverage continued to expand. Its SDK traffic maintained a steady increase, up
On the algorithm side, continued investments in algorithm and engineering infrastructure, platform algorithmic capabilities, and cost efficiency are compounding into a positive cycle that will drive the next stage of BIGO Ads' development. As it accumulates more advertiser feedback data and continues to refine its multi-channel attribution capabilities, its user profiling and targeting capabilities are improving. Building on this, BIGO Ads continues to iterate its vertical-specific models and strengthen its platform capabilities. The business is focusing on traffic segmentation and budget matching, traffic bidding, and post-campaign optimization. Together, these efforts are improving the matching efficiency between budget and traffic, and overall monetization efficiency. At the same time, BIGO Ads is advancing upgrades to its algorithm and engineering systems and continuously optimizing compute scheduling and server costs, which allows it to manage infrastructure costs more efficiently even as request volumes grow rapidly.
As BIGO Ads builds out its three-layer system of vertical algorithms, platform algorithm capabilities, and engineering infrastructure, the data accumulated from a growing customer and traffic base is expected to further feed back into model optimization. This will help drive a virtuous cycle across delivery performance, advertiser budgets, and traffic monetization efficiency, providing stronger technological momentum for the next stage of BIGO Ads' scaled growth.
SHOPLINE E-Commerce Business
In the second quarter, SHOPLINE generated revenue of
As AI opens up new traffic and transaction entry points, commercial scenarios are becoming increasingly diverse and fragmented, driving growing demand among merchants for a unified, open, and connectable e-commerce infrastructure. This trend further highlights SHOPLINE's value as an omnichannel commerce infrastructure. SHOPLINE has expanded its integrations with multiple leading AI Agents. This enables merchants to capture the traffic and transactions from these new entry points, while converting orders, customer relationships, and operating data across channels into a lasting asset for merchants. In the first half, for SHOPLINE merchants, page views from AI channels grew nearly 15-fold year over year and order volume grew over 35-fold year over year. In addition, SHOPLINE Copilot is being rolled out in phases and has entered closed beta testing, enabling merchants to manage their online stores more efficiently using natural language. This marks another step in SHOPLINE's efforts to gradually integrate AI across the entire merchant operating journey and help merchants connect with consumers, manage operations, and drive business growth more efficiently.
SHOPLINE's long-term growth is aligned with merchant success. High-retention subscription services provide a stable revenue foundation. Value-added services such as payments and marketing allow SHOPLINE to participate more deeply in merchant GMV growth. As its merchant base and GMV continue to increase, value-added services are expected to deliver stronger operating leverage and contribute more momentum to SHOPLINE's business growth.
1.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 Second Quarter 2026 Unaudited Financial Results" issued by the Company on August 26, 2026.
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SOURCE JOYY Inc.