JOYY (NASDAQ:JOYY), a leading global technology company operating popular social media platforms including Bigo Live and Likee, reported fourth-quarter 2025 revenue of $581.9 million on Wednesday.
The results represent a 5.9% increase year-over-year and a 7.7% sequential improvement, driven by the continued globalization of its livestreaming ecosystem and a breakout performance in its advertising business.
Livestreaming remained the company's primary engine, contributing $394.4 million to the quarterly total.
However, the most significant growth catalyst was the BIGO Ads segment, which saw revenue jump 61.5% year-over-year to $128.1 million.
This diversification into high-margin advertising helped push full-year 2025 revenue to $2.12 billion, signaling a successful transition toward a more balanced monetization model beyond user tipping.
Profitability metrics showed similar momentum.
Non-GAAP operating income rose 10.8% to $150.8 million, while non-GAAP EBITDA reached $189.8 million.
The company's disciplined cost management and the scaling of its Bigo Live operations in emerging markets contributed to an overall expansion in margins.
Financially, JOYY maintains one of the strongest balance sheets in the social media sector.
The company ended 2025 with $3.26 billion in net cash, a position it is aggressively using to reward investors.
In 2025 alone, JOYY returned approximately $332 million to shareholders through dividends and share repurchases.