JOYY Q3 Adj EPADS $1.22 Beats $0.69 Estimate, Sales $567.10M Beat $560.56M Estimate
Portfolio Pulse from Benzinga Newsdesk
JOYY Inc. (NASDAQ:YY) exceeded Q3 earnings and sales estimates with an adjusted EPS of $1.22, surpassing the $0.69 forecast by 76.81%, and sales of $567.10M, beating the $560.56M estimate by 1.17%. This reflects a 27.08% increase in EPS from last year, despite a 3.35% decrease in sales from the same period.
November 30, 2023 | 6:32 am
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JOYY Inc. reported strong Q3 results with adjusted EPS of $1.22, beating estimates by 76.81%, and sales of $567.10M, exceeding expectations. Year-over-year EPS increased by 27.08%, despite a slight decline in sales.
The significant earnings beat and sales outperformance are likely to instill investor confidence and could lead to a short-term positive impact on JOYY's stock price. The growth in EPS is particularly notable, even though there's a slight year-over-year decrease in sales, which may be viewed as a minor concern against the backdrop of strong earnings.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100