JOYY Q2 Non-GAAP Profit Rises

(RTTNews) - JOYY Inc. (YY), a global technology company, reported that its non-GAAP net income attributable to controlling interest and common shareholders of the company for the second quarter of 2023 rose to US$97.3 million from US$51.5 million last year.

Net income attributable to controlling interest of the company for the second quarter climbed to US$155.1 million, from US$18.7 million in the corresponding period of 2022.

Net revenues were US$547.3 million, down from US$596.1 million in the prior year.

In addition, JOYY stepped up its share repurchases during the second quarter and bought back an additional US$214.3 million of its shares. In total, it returned US$299.7 million to its shareholders through share buybacks and dividends during the first half of this year, the company said.

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