JOYY's Q1 Global Average Mobile MAUs 277.3M Compared To 272.9M YoY; Total Number Of Paying Users Of BIGO 1.67M, Compared To 1.57M YoY
Portfolio Pulse from Benzinga Newsdesk
JOYY Inc. reported its Q1 2024 operational highlights, showing a slight increase in global average mobile MAUs to 277.3 million from 272.9 million YoY. However, individual platforms like Bigo Live, Likee, and Hago saw declines in MAUs due to reduced spending on user acquisition. The total number of paying users for BIGO increased to 1.67 million from 1.57 million YoY, although the average revenue per paying user decreased to $235.4 from $244.8.
May 29, 2024 | 4:56 am
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JOYY Inc. reported mixed Q1 2024 results with a slight increase in global MAUs but declines in individual platforms' MAUs. The number of paying users for BIGO increased, but average revenue per paying user decreased.
The increase in global MAUs and paying users is positive, but the decline in individual platforms' MAUs and ARPU is concerning. This mixed performance is likely to result in a neutral short-term impact on the stock price.
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IMPORTANCE 70
RELEVANCE 100