JOYY Inc (YY.US) announced unaudited financial results for the third quarter of 2022 on Nov. 29, Beijing time, Zhitong Financial APP learned. The company reported net revenue of $586.7 million in the third quarter, compared with $650.5 million a year earlier.
Under the Non-GAAP criteria, the continuing operating net profit of JOYY Inc Q3 belonging to the controlling interests and common shareholders of JOYY Inc Group was US $76.94 million, compared with US $35.14 million in the same period in 2021. The net interest rate was 13.1%, compared with 5.4% in the same period last year. Under the Non-GAAP criterion, JOYY Inc Q3 diluted earnings per ADS of US $0.96, compared with US $0.42 per ADS in the same period last year.
By business, JOYY Inc's Q3 online live broadcast net revenue was $542.8 million, compared with $612.2 million a year earlier, down 11% from a year earlier. Net revenue from other businesses was $43.92 million, compared with $38.38 million a year earlier.
In the third quarter, the average number of monthly active users (MAU) of JOYY Inc's global mobile devices was 269.8 million, down 6.6% from a year earlier. The total number of paying users (including Bigo Live,Likee and imo) of Bigo was 1.51 million, and its average revenue per user (ARPU) was US $259.8, compared with US $307.9 in the same period last year.
Looking ahead, JOYY Inc expects revenue in the fourth quarter of 2022 to range from $594 million to $619 million.
In terms of share buybacks, in November 2021, the company announced that its board of directors had authorized an additional share buyback program under which the company could buy back up to $1 billion of shares between November 2021 and November 2022. ("2021 share buyback Plan"). In the third quarter of 2022, the company bought back about $14.1 million of shares under the 2021 share buyback program. In November 2022, the Board of Directors of the Company authorized the continued use of the unused quota under the 2021 share repurchase Program of approximately $800 million for an extension of 12 months from the date of signing of this Agreement.
In terms of dividends, the company's board of directors announced that in the third quarter of 2022, a dividend of 51 cents per ADS share, or $0.0255 per common share, is expected to be paid on January 6, 2023 to recorded shareholders at the end of business on December 23, 2022. The de-interest date is December 22, 2022.