JOYY Expects Q1 2024 Net Revenues Of $543M-$560M Vs. $579.45M Consensus.
Portfolio Pulse from Benzinga Newsdesk
JOYY Inc. forecasts its Q1 2024 net revenues to range between $543M and $560M, falling short of the consensus estimate of $579.45M. The company attributes this outlook to current market conditions, operational factors, and business strategies, while also noting the potential impact of growing macroeconomic uncertainties.
March 19, 2024 | 4:59 am
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JOYY Inc. anticipates lower-than-expected revenues for Q1 2024, estimating between $543M and $560M versus a consensus of $579.45M.
The company's forecasted revenue for Q1 2024 is below the consensus estimate, which could lead to negative investor sentiment and potentially lower stock prices in the short term. The mention of macroeconomic uncertainties as a factor for this outlook further adds to potential concerns among investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100