Following the conclusion of regular trading hours, JOYY Inc. (NASDAQ: YY) disclosed its earnings report, giving investors an overview of the company's performance during the second quarter.
The results have garnered the interest of Wall Street, owing to earnings side by side revenues exceeded market expectations.
With a quarterly Non-GAAP income of $1.17 per share, the establishment has achieved revenues of $565.13 million.
The figures got better of the wall street projected $0.89 profit per share based on the $558 million in revenues.
| Period | EPS Actual |
EPS Growth* |
Revenue Actual |
Revenue Growth* |
|---|---|---|---|---|
| Q2 2024 | $1.17 | -9.3% | 565.13 M | +3.3% |
| Q1 2024 | $1.02 | +59.4% | 564.56 M | -3.3% |
| Q4 2023 | $1.01 | +55.4% | 569.84 M | -2.9% |
| Q3 2023 | $1.22 | +27.1% | 567.10 M | -3.3% |
*Growth on year-over-year basis
The revenues improved 3.25 percent, and per share profit dropped 9.3 percent when looking at the same quarter of year ago.
Looking ahead, The company has projected Q3 2024 revenue target that spans between $555.00 and $569.00 million. However financial analysts on Wall Street forecast from revenues of $575.00 million
| Period | Type | Company Outlook |
Analysts Estimate |
Company Vs.* Analysts |
|---|---|---|---|---|
| Q3 2024 | REV | $555 M~$569 M | $575 M | -2.3% |
*Based on mid-point
The previous trading day saw JOYY (YY) shares trading between $33.56 and $34.33, besides a volume of 269.30 thousand shares. The stock closed Tuesday's regular trading session at $33.57, indicating 0.36 percent downfall.
