JOYY Inc. (NASDAQ:YY) Q4 2023 Earnings Conference Call March 18, 2024 9:00 PM ET

Company Participants

Jane Xie - Senior Manager, Investor Relations
David Li - Chairman of the Board, Director and CEO
Alex Liu - Vice President, Finance

Conference Call Participants

Yiwen Zhang - China Renaissance
Alex Poon - Morgan Stanley
Brian Gong - Citi
Henry Sun - JP Morgan

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the JOYY Inc.’s Fourth Quarter and Full Year 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the management’s prepared remarks, there will be a question-and-answer session.

I’d now like to hand the conference over to your host today, Jane Xie, the company’s Senior Manager of Investor Relations. Please go ahead, Jane.

Jane Xie

Thank you, Operator. Hello, everyone. Welcome to JOYY’s fourth quarter 2023 earnings conference call. Joining us today are Mr. David Xueling Li, Chairman and CEO of JOYY; Ms. Ting Li, our COO; and Mr. Alex Liu, the Vice President of Finance.

For today’s call, management will first provide a review of the quarter and then we will conduct a Q&A session. The financial results and webcast of this conference call are available at ir.joyy.com. A replay of this call will also be available on our website in a few hours.

Before we continue, I would like to remind you that we may make forward-looking statements, which are inherently subject to risks and uncertainties that may cause actual results to differ from our current expectations. For detailed discussions of the risks and uncertainties, please refer to our latest annual report on Form 20-F and other documents filed with the SEC.

Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in U.S. dollar.

I will now turn the call over to our Chairman and CEO, Mr. David Xueling Li. Please go ahead, sir.

David Li

Hello, everyone. Welcome to our fourth quarter 2023 earnings call. First, we’ll provide a quick review of our performance for the quarter and the full year. During the fourth quarter, our group revenue came in at $570 million. Our core business segment BIGO recorded revenues of $491 million, a year-over-year increase of 3.1%. Group’s non-GAAP net profit hit $64.2 million, with BIGO contributing $63.5 million. For the full year of 2023, group revenue reached $2.27 billion, with around $1.92 billion coming from BIGO.