JOYY Inc (JOYY) Income Statement
JOYY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsJOYY revenue and net income
Where JOYY's revenue goes
2025Each bar shows an amount and its share of revenue. JOYY kept 98.8% of revenue as net income.
JOYY profit margins
JOYY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −5.1% | −4.1% | +74.7% | — |
| Gross profit | −5.4% | −3.6% | +84.8% | — |
| Operating income | +17.1% | −5.2% | — | — |
| Net income | — | +153.4% | +95.2% | — |
| EPS (diluted) | +8.1% | +27.9% | +10.2% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
JOYY quarterly EPS vs estimates
JOYY beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 18, 2026 (estimate $1.16).
JOYY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.12B | $2.24B | $2.27B | $2.41B | $2.62B | $130.7M | $18.4M | $269.6M | $170.0M | $139.9M |
| Cost of revenue | $1.36B | $1.43B | $1.45B | $1.56B | $1.78B | $95.3M | $16.1M | $163.4M | $105.7M | $84.9M |
| Gross profit | $762.6M | $806.2M | $813.0M | $852.1M | $837.9M | $35.4M | $2.3M | $106.2M | $64.2M | $55.0M |
| Research & development | $247.1M | $278.7M | $295.5M | $261.8M | $279.8M | $34.3M | $11.4M | $18.2M | $14.0M | $13.0M |
| Sales, general & admin | $462.0M | $485.9M | $492.2M | $141.8M | $221.7M | $19.7M | $19.0M | $12.7M | $10.0M | $8.5M |
| Total operating expenses | $706.8M | $758.5M | $778.0M | $786.6M | $949.5M | $110.1M | $30.2M | $43.5M | $27.5M | $27.4M |
| Operating income | $55.8M | $47.7M | $35.0M | $65.6M | −$111.6M | −$74.8M | −$27.9M | $62.8M | $36.7M | $27.6M |
| Interest income | $162.6M | $175.6M | $185.2M | $93.1M | $91.2M | — | — | — | — | — |
| Interest expense | $517,364 | $4.8M | $10.4M | $12.8M | $14.5M | $38.1M | $1.3M | $4.9M | $11.7M | $15.0M |
| Income before taxes | $227.7M | −$229.2M | $291.3M | $136.1M | −$103.8M | −$12.9M | $15.2M | $68.0M | $37.1M | $27.9M |
| Income taxes | $16.4M | $13.5M | $18.9M | $34.6M | $25.7M | −$2.9M | $1.5M | $9.7M | $5.8M | $4.2M |
| Net income | $2.10B | −$146.2M | $301.8M | $128.9M | −$80.3M | $74.0M | $49.0M | $58.4M | $31.6M | $24.5M |
| EBITDA | $322.5M | −$120.1M | $430.9M | $810.7M | $119.8M | $14.0M | $15.5M | $73.5M | $44.3M | $34.3M |
| EPS (diluted) | $5.32 | $4.92 | $3.50 | $2.54 | $0.88 | $3.27 | $6.68 | $6.87 | $4.06 | $3.20 |
| Gross margin | 35.9% | 36.0% | 35.8% | 35.3% | 32.0% | 27.1% | 12.5% | 39.4% | 37.8% | 39.3% |
| Operating margin | 2.6% | 2.1% | 1.5% | 2.7% | −4.3% | −57.2% | −151.3% | 23.3% | 21.6% | 19.7% |
| Net margin | 98.8% | −6.5% | 13.3% | 5.3% | −3.1% | 56.6% | 266.3% | 21.7% | 18.6% | 17.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $591.7M | $555.7M | $581.9M | $540.2M | $507.8M | $494.4M | $549.4M | $558.7M | $565.1M | $564.6M | $569.8M | $567.1M |
| Cost of revenue | $389.8M | $366.4M | $376.3M | $347.1M | $322.5M | $315.7M | $345.7M | $350.5M | $366.2M | $369.2M | $368.4M | $357.9M |
| Gross profit | $201.9M | $189.3M | $205.6M | $193.1M | $185.2M | $178.6M | $203.8M | $208.1M | $198.9M | $195.4M | $201.5M | $209.2M |
| Research & development | $53.1M | $61.2M | $61.5M | $63.1M | $60.1M | $62.4M | $67.5M | $72.4M | $69.9M | $69.0M | $72.6M | $71.6M |
| Sales, general & admin | $135.2M | $122.2M | $126.3M | $111.1M | $119.8M | $104.8M | $111.1M | $119.6M | $128.8M | $126.4M | $126.8M | $119.7M |
| Total operating expenses | $188.6M | $182.2M | $187.4M | $173.6M | $179.4M | $166.4M | $631.6M | $191.7M | $196.7M | $191.8M | $199.4M | $197.1M |
| Operating income | $13.4M | $7.1M | $18.3M | $19.6M | $5.8M | $12.2M | −$427.9M | $16.4M | $2.3M | $3.5M | $2.1M | $12.0M |
| Interest income | $39.5M | $39.8M | $40.9M | $41.5M | $40.8M | $39.4M | $38.9M | $41.1M | $46.7M | $48.9M | $47.1M | $47.3M |
| Interest expense | $112,185 | $38,000 | $162,706 | $97,128 | $151,000 | $106,000 | $312,000 | $535,000 | $1.9M | $2.1M | $2.1M | $2.1M |
| Income before taxes | $58.7M | $53.0M | $52.6M | $63.0M | $64.1M | $48.1M | −$386.8M | $62.2M | $50.4M | $44.7M | $47.9M | $68.1M |
| Income taxes | $9.9M | $4.8M | $1.4M | $3.8M | $6.1M | $5.2M | $41,000 | $6.3M | $2.6M | $4.5M | $2.3M | $3.0M |
| Net income | $51.9M | $50.7M | $54.3M | $62.0M | $60.8M | $1.92B | −$304.5M | $60.6M | $52.1M | $45.3M | $45.8M | $72.9M |
| EBITDA | $26.9M | $25.1M | $40.8M | $58.8M | $65.4M | $51.5M | $57.1M | $56.0M | $49.5M | $54.2M | $50.0M | $74.6M |
| EPS (diluted) | $0.91 | $1.11 | $1.34 | $1.36 | $1.44 | $1.18 | $1.66 | $1.07 | $1.17 | $1.02 | $0.68 | $1.22 |
| Gross margin | 34.1% | 34.1% | 35.3% | 35.8% | 36.5% | 36.1% | 37.1% | 37.3% | 35.2% | 34.6% | 35.4% | 36.9% |
| Operating margin | 2.3% | 1.3% | 3.1% | 3.6% | 1.1% | 2.5% | −77.9% | 2.9% | 0.4% | 0.6% | 0.4% | 2.1% |
| Net margin | 8.8% | 9.1% | 9.3% | 11.5% | 12.0% | 388.7% | −55.4% | 10.8% | 9.2% | 8.0% | 8.0% | 12.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in JOYY's financial statements (latest annual report filed April 28, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
JOYY financial results
In fiscal year 2025 (ended December 31, 2025), JOYY reported revenue of $2.1 billion, down 5.1% from the year before. It had net income of $2.1 billion, a net profit margin of 98.8%. Diluted earnings per share came to $5.32. Over five years revenue grew at an average rate of 74.7% a year.
See the JOYY stock overview for the latest quote and news, or the JOYY chart for price history and technical indicators.
JOYY income statement FAQ
What is JOYY's annual revenue?
JOYY reported total revenue of $2.1 billion for fiscal year 2025, which ended on December 31, 2025. That was down 5.1% from $2.2 billion the previous year.
Is JOYY profitable?
Yes. JOYY reported net income of $2.1 billion in fiscal 2025, a net profit margin of 98.8%; its operating margin was 2.6%.
What is JOYY's gross margin?
JOYY's gross margin was 35.9% in fiscal 2025: for every $100 of revenue, JOYY kept $36 after the direct cost of its products and services.
How much does JOYY spend on research and development?
JOYY spent $247.1 million on research and development in fiscal 2025, 11.6% of revenue.
How fast is JOYY growing?
Revenue grew 74.7% a year on average over the last five fiscal years, from $130.7 million to $2.1 billion.
What are JOYY's earnings per share?
JOYY earned $5.32 per diluted share in fiscal 2025, compared with $4.92 a year earlier.
When will JOYY report its next earnings?
JOYY is expected to report results for the quarter ending September 30, 2026 on November 18, 2026 after the market closes.
When does JOYY's fiscal year end?
JOYY's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 28, 2026.