JOYY (NASDAQ:YY) Announces Earnings Results

JOYY (NASDAQ:YY) issued its quarterly earnings results on Monday. The information services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13, Yahoo Finance reports. JOYY had a return on equity of 5.12% and a net margin of 13.31%. The firm had revenue of $569.84 million during the quarter, compared to the consensus estimate of $572.51 million. During the same period last year, the business posted $0.49 EPS.

JOYY Price Performance

Shares of NASDAQ YY traded down $0.13 during trading on Wednesday, hitting $31.35. The stock had a trading volume of 110,577 shares, compared to its average volume of 773,215. JOYY has a 12 month low of $24.12 and a 12 month high of $43.20. The company has a market capitalization of $1.94 billion, a PE ratio of 6.33 and a beta of 0.39. The firm has a fifty day moving average of $31.79 and a two-hundred day moving average of $36.46.

Hedge Funds Weigh In On JOYY

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in JOYY by 31.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after purchasing an additional 343 shares in the last quarter. Squarepoint Ops LLC boosted its position in JOYY by 5.9% during the 1st quarter. Squarepoint Ops LLC now owns 7,757 shares of the information services provider’s stock valued at $242,000 after acquiring an additional 431 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of JOYY by 15.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,251 shares of the information services provider’s stock worth $162,000 after acquiring an additional 582 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of JOYY by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 62,520 shares of the information services provider’s stock valued at $2,482,000 after purchasing an additional 900 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of JOYY by 11.4% during the first quarter. American Century Companies Inc. now owns 10,078 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 1,031 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Wall Street Analyst Weigh In

YY has been the subject of a number of analyst reports. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a report on Monday. Benchmark reissued a “hold” rating on shares of JOYY in a report on Tuesday, January 2nd.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.