For the first quarter of 2026, JOYY expects net revenues to be between US$538M and US$548M, reflecting current views on market and operational conditions.
Bullish
JOYY achieved 5.9% year-over-year net revenue growth in Q4 2025, driven by a 62.4% increase in advertising revenues and a significant improvement in operating income.
Bearish
JOYY's live streaming revenues decreased year-over-year due to operational adjustments, while Non-GAAP EBITDA and Non-GAAP net income also saw year-over-year declines in Q4 2025.