Shulou(Shulou.com)12/24 Report--

On November 30, 2023, Beijing time, Huan Ju Group (NASDAQ:YY) released its results for the third quarter of 2023.

The revenue of Huan Ju Group reached US $567.1 million in the third quarter, up 3.6% from the previous quarter. Of this total, the revenue of the core business segment BIGO reached US $494.1 million, up 4.9% from the previous month and 2.2% from the same period last year, achieving positive year-on-year revenue growth for the first time in six quarters. Under non-US general accounting standards, the group's net profit for the quarter was $81.2 million, up 5.5% from a year earlier, and the net interest rate was 14.3%. Bigo's operating profit was $81.9 million, up 11.7% from a year earlier, with an operating profit margin of 16.6%. In the quarter, Huan Ju Group continued to record positive operating cash flow of US $72.9 million.

The global social entertainment MAU of Huan Ju Group increased 2.6% year-on-year to 276.8 million in the third quarter. Among them, Bigo Live MAU achieved double-digit growth for six consecutive quarters, growing 14% to 40.3 million in the current quarter compared with the same period last year. The number of paying users in BIGO has maintained healthy growth, with an increase of 6.6% compared with the same period last year.

Highlights of 2023 Q3 earnings report

The revenue of Huan Ju Group was 567.1 million US dollars, an increase of 3.6 per cent over the previous month.

Under non-GAAP, net profit attributable to controlling interests and common shareholders of Huan Ju Group was $81.2 million, compared with $76.9 million for the same period in 2022.

Revenue from BIGO, the core business segment, reached $494.1 million, up 4.9% from the previous month and 2.2% from a year earlier, achieving positive year-on-year revenue growth for the first time in six quarters.

Bigo Live users continued to grow, with MAU growing 14% year-on-year to 40.3 million in the third quarter, the sixth consecutive quarter of double-digit growth.

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