YY Inc ADR Down 10.17% To $29.97 After Earnings Beat

JOYY Inc (YY) reported better than expected earnings this afternoon for Q4 2023.

The consensus among analysts for YY Inc ADR was for an earnings per share (EPS) of $0.77. The firm was able to surpass those projections, reporting an EPS of $1.01, a positive surprise of $0.24 (31%). Profits rose 55% year-over-year after reporting an EPS of $0.65 in its year-ago quarter. The positive growth rate signals that the Communication Services company is performing well amid recent economic conditions.

Consensus analyst estimates were at $558.3 million. The Communication Services company managed to surpass those expectations for its fourth quarter with revenue of $569.8 million, a positive revenue surprise of $11.5 million (2%). The firm managed negative 3% growth year-over-year due to YY Inc ADR reporting quarterly revenue of $586.7 million in its year-ago quarter. YY Inc ADR achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 10.17% to $29.97 after the report.

Despite YY Inc ADR reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

YY Inc ADR has performed a little below average during the past few months. Before the report, YY Inc ADR received a Long-Term Technical Rank by InvestorsObserver of 27, putting it in the bottom half of stocks.

JOYY Inc is a social media platform. The company is engaged in creating and sharing entertainment content and activities. JOYY enables users to interact with each other in real-time through online live media and offers users an immersive entertainment experience. Its products include YY Live, Bigo Live, Huya, Likee, imo, and Hago. The company offers Live streaming platforms, Short-form video platforms, and other products. The company reports in two segments Bigo and All other. It has a presence in China; Developed countries; Middle East and Southeast Asia and others.