YY (YY, Financial) has announced its financial results for the third quarter of 2024. The company reported revenues of $558.7 million, with the BIGO segment contributing $496 million. Under non-GAAP measures, YY achieved an operating profit of $34.9 million, marking a 16.4% increase from the previous quarter. The net profit reached $61.2 million, resulting in a net profit margin of 10.9%. The company also maintained a robust positive operating cash flow of $61.1 million.
During the third quarter, YY continued its share repurchase program, buying back 3.43 million ADS shares, equivalent to approximately $117.8 million.
Key financial highlights for the third quarter of 2024 include:
- Net revenue of $558.7 million.
- Net profit attributable to YY shareholders was $60.6 million.
- Under non-GAAP measures, net profit attributable to YY shareholders and ordinary stockholders was $61.2 million.
