JOYY Inc. (NASDAQ: JOYY), a leading global technology company, announced its unaudited financial results for the second quarter ended June 30, 2026, revealing a year-over-year and quarter-over-quarter growth in total revenues. The company reported total revenues of US$590.8 million, a 16.3% increase from the same period last year and a 6.3% rise from the previous quarter. This growth underscores the effectiveness of JOYY's diversification strategy, which is now yielding significant contributions from its second growth engines.
Social Entertainment revenue, a core segment, expanded 7.4% year over year and 5.6% quarter over quarter to US$422.7 million. However, the standout performance came from BIGO Ads and SHOPLINE, which are pivotal to JOYY's future growth. BIGO Ads revenue surged to US$133.7 million, a 53.1% increase year over year, while SHOPLINE contributed US$34.4 million, marking an accelerated growth rate of 28.6% compared to the prior year. These segments are rapidly becoming significant revenue drivers, reducing reliance on traditional social entertainment.
The company also demonstrated improved profitability during the quarter. Non-GAAP operating income reached US$49.1 million, up 28.2% year over year and 29.4% quarter over quarter. Non-GAAP EBITDA climbed to US$56.9 million, a growth of 18.1% year over year and 24.4% sequentially. Operating cash inflow was robust at US$64.9 million, and the company maintained a strong balance sheet with net cash of US$3.06 billion as of June 30, 2026.
JOYY's commitment to shareholder returns remains steadfast. In May 2026, the company updated its three-year shareholder return program, planning to return a cumulative US$1.5 billion to shareholders by the end of 2028. From January 1 to August 21, 2026, JOYY has already returned US$358.8 million, comprising US$216.4 million in share repurchases and US$142.4 million in dividends. This consistent return of capital reflects the company's confidence in its financial health and future prospects.
The strong performance in the second quarter highlights JOYY's successful pivot towards a more diversified business model. By investing in high-growth areas like BIGO Ads and SHOPLINE, the company is not only mitigating risks associated with its core social entertainment segment but also tapping into new revenue streams. This strategic evolution is crucial for sustaining long-term growth in the competitive global technology landscape. Investors and market analysts will be watching closely to see if JOYY can maintain this momentum in the coming quarters.
