JOYY Q1 2023 Earnings Report — JOYY, Inc. Sponsored ADR Class A Revenue & Financial Results | Market Cap Arena

JOYY, Inc. Sponsored ADR Class AJOYY

Q1 2023 Earnings

Reported May 31, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$584M	$605M	—	-3.5%	—
Op. Income	$3M	-$14M	—	117.9%	—
Gross Margin	35.1%	35.1%	—	-0.0pp	—
Net Margin	4.8%	2.2%	—	2.6pp	—
EPS (Diluted)	$0.31	$0.18	—	72.2%	—
Free Cash Flow	$0	$0	—	—	—

Revenue Flow

Item	Amount
REVENUE	$584M
Cost of Revenue	$379M
GROSS PROFIT	$205M
R&D Expenses	$76M
Selling & Marketing	$98M
General & Administrative	$32M
SG&A Expenses	$130M
Other Expenses	-$3M
Operating Expenses	$202M
Cost & Expenses	$581M
OPERATING INCOME	$3M
Interest Income	$44M
Interest Expense	$3M
Other Income/Expenses	$26M
INCOME BEFORE TAX	$28M
Income Tax Expense	$8M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$28M
Net Income Deductions	-$2M
BOTTOM LINE NET INCOME	$25M
D&A	$16M
EBIT	$38M
EBITDA	$54M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$584M
Cost of Revenue	$379M
GROSS PROFIT	$205M
R&D Expenses	$76M
Selling & Marketing	$98M
General & Administrative	$32M
SG&A Expenses	$130M
Other Expenses	-$3M
Operating Expenses	$202M
Cost & Expenses	$581M
OPERATING INCOME	$3M
Interest Income	$44M
Interest Expense	$3M
Other Income/Expenses	$26M
INCOME BEFORE TAX	$28M
Income Tax Expense	$8M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$28M
Net Income Deductions	-$2M
BOTTOM LINE NET INCOME	$25M
D&A	$16M
EBIT	$38M
EBITDA	$54M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$28M
Depreciation & Amortization	$16M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$44M
Change in Working Capital	$0
OPERATING CASH FLOW	$0
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$0
FREE CASH FLOW	$0
Net Change in Cash	$192M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$2.5B
Net Receivables	$122M
Inventory	$370M
Other Current Assets	$230M
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$389M
Goodwill	$2.6B
Intangible Assets	$715M
Long-Term Investments	$658M
Tax Assets	$0
Other Non-Current Assets	$53M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$9.1B
Account Payables	$55M
Short-Term Debt	$470M
Deferred Revenue	$93M
Other Current Liabilities	$36.4B
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$405M
Deferred Revenue NC	$11M
Deferred Tax Liabilities	$61M
Other Non-Current Liabilities	$93M
TOTAL NON-CURRENT LIABILITIES	$595M
TOTAL LIABILITIES	$3.7B
Common Stock	$16.0K
Additional Paid-In Capital	$3.3B
Retained Earnings	$2.7B
Treasury Stock	-$668M
Accum. Other Comp. Income	-$103M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$234M
TOTAL EQUITY	$5.4B
TOTAL LIABILITIES & EQUITY	$9.1B
Total Debt	$913M
Net Debt	-$488M