JOYY Expects 4Q23 Net Revenues Of $551M-$579M Versus $566.43M Consensus
Portfolio Pulse from Benzinga Newsdesk
JOYY Inc. forecasts its Q4 2023 net revenues to range from $551M to $579M, compared to the consensus estimate of $566.43M. The company's outlook is based on current market conditions and business strategies, but acknowledges potential changes due to macroeconomic uncertainties.
November 30, 2023 | 6:44 am
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JOYY Inc., listed as YY, anticipates Q4 2023 revenues to be between $551M and $579M, which is in line with the consensus estimate of $566.43M. The forecast is subject to change due to macroeconomic factors.
JOYY's revenue forecast is within the range of market expectations, which typically does not lead to significant stock price movements. However, the mention of macroeconomic uncertainties introduces a level of caution, suggesting that investors may adopt a wait-and-see approach. The impact is neutral as the forecast aligns with consensus, but the importance is high due to the relevance of earnings forecasts to investor decisions. The confidence level is not at the maximum due to the inherent uncertainty in forecasting and the potential for macroeconomic conditions to change.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100