Shulou(Shulou.com)11/24 Report--

November 29 news, Huan Ju Group released the third quarter of 2022 results. In the third quarter, Huanju realized revenue of $586.7 million and BIGO revenue of $483.3 million.

Regardless of the spun-off YY Live business, under non-US general accounting standards, Huan Ju Group made a net profit of US $76.94 million in the third quarter, with a net profit of US $84.1 million and a net interest rate of 17.4%.

Financial Summary for the third quarter of 2022: third quarter net income of $586.7 million

Under non-GAAP, continuing operating net profit attributable to controlling interests and common shareholders of Huan Ju Group was $76.94 million, compared with $35.14 million for the same period in 2021. Under non-GAAP, the net profit margin is 13.1%. The net profit margin for the same period in 2021 was 5.4%.

At the end of the third quarter, under non-US GAAP, BIGO made a cumulative net profit of $230.4 million in the first three quarters of 2022, compared with $78.5 million in the same period in 2021, up 193.3 per cent from a year earlier. The average number of Bigo Live monthly mobile active users increased by 14.2% year on year to 35.4 million, compared with 31 million in the same period in 2021.

As of September 30, 2022, Huan Ju Group has cash and cash equivalents, restricted cash and cash equivalents, restricted short-term deposits and short-term deposits and short-term investments of US $4.2767 billion. Positive operating net cash flow of $117.1 million was recorded in the third quarter of 2022.

Li Xueling, chairman and CEO of Huanju, said that despite the many challenges from the global macro environment, Huanju Group has achieved a continuous improvement in profitability through forward-looking strategic planning and good execution; by focusing on the iteration of product interaction and social functions and the cultivation of local content ecology, the efficiency of product growth has been improved. In the future, Huanju will continue to enhance the resilience of enterprises to resist risks, focus on long-term product strategies, and promote long-term growth of the global user community and business.

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