JOYY Inc. (YY) stock prices were up by 1.28% as of the market closing on August 18th, 2021. This brought the price per share up to USD$41.02 at the end of the trading day. Subsequent premarket fluctuations have seen the stock dip by 6.51%, bringing it down to USD$38.35.
YY Stock’s Revenue Breakdown
Net revenues for the quarter were up by 39.7% for the second quarter of 2021, up to USD$661.7 million. This is comparable to the USD$473.5 million in the prior-year quarter. The year-over-year difference was largely attributable to the growth of live streaming revenues from BIGO. Live streaming revenues were up by 39.7%, coming in at USD$629.6 million in Q2 2021. This is comparable to the USD$450.7 million in the second quarter of fiscal 2020. The year-over-year difference was largely attributable to BIGO’s ongoing expansion of paying users and enhanced monetization capabilities.
Costs of Revenue
YY stock reported a 32.2% year-over-year increase in costs of revenue in the second quarter of fiscal 2021. The 2021 quarter came in at USD$458.3 million, as compared to the USD$346.7 million in the prior-year quarter. Revenue-sharing fees and content costs were up to USD$289.1 million for the second quarter of 2021, up from the USD$198.2 million in the 2020 quarter. This year-over-year difference was largely driven by increases in live streaming revenues generated by the company.
YY Stock’s Operating Loss
The second quarter of fiscal 2021 saw YY stock report an operating loss in the amount of USD$101.1 million This is comparable to the USD$119.9 million reported in the prior-year quarter. Operating loss margin for the 2021 quarter came in at 15.3%, down from the 25.3% reported in the 2020 quarter. The year-over-year difference was largely attributable to BIGO turning a profit in Q2 2021.
Net Loss Reports
Net loss from continuing operations attributable to shareholders came in at USD$109.3 million for Q2 2021. This is comparable to the USD$28.5 million reported in the prior-year quarter. Net loss margin was reported at 16.5% for the 2021 quarter, with the 2020 quarter reporting a net loss margin of 6%.
Future Outlook for YY Stock
The company reported a strong quarter, with YY stock executing its business strategy to facilitate a continued trajectory of success. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
