首页 News 正文

Q4 and full year financial reports of Huanju Group: revenue decline, net profit surge, slow recovery of BIGO business

楚一帆
197 0 0

This is the third year that Huanju Group has achieved continuous positive profitability.
On the evening of March 18, 2024 Eastern Time, Huanju Group (NASDAQ: YY) released its financial reports for the fourth quarter and full year of 2023. This was also the first time that Huanju Group had released its financial reports after Baidu announced its abandonment of the acquisition of YY Live. In 2023, Huanju Group achieved a revenue of 2.27 billion US dollars, a year-on-year decrease of 5.9%, with a revenue of 570 million US dollars in the fourth quarter; However, the annual net profit increased by 47% year-on-year to $293 million.
Before the financial report was released, the closing price of Huanju Group was $33.37 per share, an increase of 3.44% from the previous day, with a total market value of $2.029 billion. Its post market price increased by 2.04% after the financial report was released.
It is worth noting that since Baidu announced the termination of its acquisition of YY Live, the stock price of Huanju Group has not turned around after a sharp drop - after a 14.7% drop on January 2, its per share price has not returned to $35.
According to the financial report, BIGO, the largest business unit of Huanju Group, is steadily attracting users and creators. In the fourth quarter, BIGO's global business continued to recover, with revenue increasing by 3.1% year-on-year and paying users increasing by 7.9% year-on-year. Among them, BIGO's live social product, Bigo Live, saw a year-on-year increase of 4.5% in MAU in the fourth quarter to 38.4 million. Bigo Live has turned its attention to non professional broadcasters and launched new creator incentive programs in various regions around the world, emphasizing support for amateur broadcasters and UGC content. As of the end of 2023, it has attracted over 300000 amateur broadcasters to register. According to the 2024 Mobile Market Report released by market analysis firm data.ai, according to the scale of consumer spending in 2023, Bigo Live continues to rank second in the global social sector.
In addition, the interest social product Likee under this section launched a graphic and text publishing function in the fourth quarter, and introduced new models such as paid collection and single episode payment. The number of paid live streaming users has maintained a month on month growth for four consecutive quarters throughout the year. In the fourth quarter, the average usage time per person increased by 2.7% month on month, and user activity (DAU/MAU) increased by 2.2% month on month.
However, the key word for the BIGO sector in 2023 is still "recovery", and its future profitability is still unknown. Although BIGO's fourth quarter revenue increased by 3% year-on-year, its annual revenue still fell from $1.997 billion in 2022 to $1.92 billion in 2023, and its adjusted net profit remained at $288 million, unchanged year-on-year.
Overall, although Huanju Group optimistically points out that it has achieved profitability for three consecutive years, an inevitable fact is that profitability remains a thorny issue for Huanju Group. In the three consecutive years of profitability, the adjusted net profit margin of the BIGO business sector in 2022 reached 14.4%, a year-on-year increase of 6.6 percentage points; In 2023, the net profit margin quickly stagnated, only increasing by 0.6 percentage points year-on-year.
To address the issue of weak main business, Huanju Group is also attempting to enrich its revenue structure. According to the official statement, the proportion of non live streaming revenue of the group will increase to 12.7% in 2023, accumulating strength for the group's long-term development.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

  • 【科技记者古尔曼:苹果计划于12月第一周发布iOS 18.2系统更新 带来更多人工智能功能】科技记者古尔曼透露,苹果计划于12月第一周发布iOS 18.2系统更新。iOS 18.2将为iPhone 15 Pro机型和所有iPhone 16机型带来更多 ...
    cristianna
    昨天 17:32
    支持
    反对
    回复
    收藏
  •   交易所监管文件显示,当地时间11月1日,亚马逊创始人杰夫·贝索斯拟出售约1635万股亚马逊股票,预计套现约30.5亿美元。今年7月,贝索斯已申请额外出售约2500万股亚马逊股票,按当时股价计算可套现约50亿美元。 ...
    blueskybb
    3 天前
    支持
    反对
    回复
    收藏
  •   近日,爱立信中国区总裁方迎在接受《经济参考报》记者采访时表示,5G技术在全球范围内得到了迅速发展,但面临商业潜力未能充分挖掘、网络运营难度较以往更高两大挑战。因此,运营商在继续5G网络部署的同时,应关 ...
    blueskybb
    昨天 15:05
    支持
    反对
    回复
    收藏
  •   近日,凯撒海湾目的地(山东)运营管理有限责任公司(简称“凯撒海湾”)与携程旅悦集团签署战略合作协议,双方将围绕“海上目的地运营”、“旅游产品与服务创新”、“研学旅行”、“日韩及海外旅游市场开拓”等 ...
    llyyy2008
    3 天前
    支持
    反对
    回复
    收藏
楚一帆 注册会员
  • 粉丝

    0

  • 关注

    0

  • 主题

    38