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JOYY (YY) Set to Report Q3 Earnings: What's in the Cards?
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JOYY (YY - Free Report) is expected to release its third-quarter 2022 results on Nov 28.
For third-quarter 2022, JOYY expects revenues between $561.5 million and $593.5 million.
The Zacks Consensus Estimate is currently pegged at $580.16 million, indicating a decline of 10.82% from the year-ago quarter’s levels.
The Zacks Consensus Estimate for third-quarter earnings is currently pegged at 52 cents per share, constant for the past 30 days. JOYY reported earnings of 42 cents in the year-ago quarter.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 570.83%.
Let’s see how things have shaped up for JOYY prior to this announcement.
Factors to Note
The current macroeconomic conditions with high inflation, and increased interest rates are likely to have negatively impacted consumer spending in the third quarter of 2022.
Its products, such as Likee and Hago, which are still loss-making, could have hindered growth in the to-be-reported quarter.
In the second quarter, BIGO Live’s live-streaming revenues and paying users decreased 10.22% and 8.1%, respectively, on a year-over-year basis. This was due to the global macroeconomic uncertainties and the appreciation of the U.S. dollar against certain other local currencies that negatively affected users’ paying activities, as well as the seasonality during the two Ramadan holidays in the Middle East.
However, BIGO Live’s monthly active users (MAUs) reached 32.6 million, up 10.6% year over year, in the second quarter.
In the last reported quarter, global average mobile MAUs declined 11.2% year over year to 273.1 million due to the decrease in average mobile MAUs of Likee and Hago as the company reduced spending on user acquisition via advertisement.
Nonetheless, JOYY’s innovative product launches in the second quarter, incorporating Bigo Live‘s virtual live and community, Likee’s Loop, interest-based community feature, and HAGO’s 3D HAGO space, which serve to improve the quality and the efficiency of users' social experience, are expected to have driven revenues in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
JOYY has an Earnings ESP of 0.00% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Splunk , Intuit (INTU - Free Report) and AutoZone (AZO - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Splunk has an Earnings ESP of +9.43 and carries a Zacks Rank #3. The company is slated to report its third-quarter fiscal 2023 results on Nov 30. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 164.4%. You can seethe complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Splunk’s fiscal third-quarter bottom line stands at earnings of 23 cents per share, indicating a robust improvement from the year-ago quarter’s loss of 37 cents per share. Revenues are estimated to grow 27.3% year over year to $845.9 million.
Intuit is slated to report its first-quarter fiscal 2023 results on Nov 29. The company has an Earnings ESP of +3.15% and carries a Zacks Rank #3 at present. INTU's earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing the same on one occasion, the average surprise being 13.8%.
The Zacks Consensus Estimate for Intuit’s quarterly earnings is pegged at $1.17 per share, suggesting a year-over-year decline of 23.5%. Its quarterly revenues are estimated to increase 24.4% year over year to $2.5 billion.
AutoZone has an Earnings ESP of +2.91% and carries a Zacks Rank #3. The company is slated to report its first-quarter fiscal 2023 results on Dec 6. AZO's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16.6%.
For the fiscal first quarter, the Zacks Consensus Estimate for AutoZone’s earnings is pegged at $24.82 per share, indicating a 3.4% year-over-year decrease. Revenues are expected to grow 4.2% to $3.82 billion.
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JOYY (YY) Set to Report Q3 Earnings: What's in the Cards?
JOYY (YY - Free Report) is expected to release its third-quarter 2022 results on Nov 28.
For third-quarter 2022, JOYY expects revenues between $561.5 million and $593.5 million.
The Zacks Consensus Estimate is currently pegged at $580.16 million, indicating a decline of 10.82% from the year-ago quarter’s levels.
The Zacks Consensus Estimate for third-quarter earnings is currently pegged at 52 cents per share, constant for the past 30 days. JOYY reported earnings of 42 cents in the year-ago quarter.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 570.83%.
Let’s see how things have shaped up for JOYY prior to this announcement.
Factors to Note
The current macroeconomic conditions with high inflation, and increased interest rates are likely to have negatively impacted consumer spending in the third quarter of 2022.
Its products, such as Likee and Hago, which are still loss-making, could have hindered growth in the to-be-reported quarter.
JOYY Inc. Sponsored ADR Price and EPS Surprise
JOYY Inc. Sponsored ADR price-eps-surprise | JOYY Inc. Sponsored ADR Quote
In the second quarter, BIGO Live’s live-streaming revenues and paying users decreased 10.22% and 8.1%, respectively, on a year-over-year basis. This was due to the global macroeconomic uncertainties and the appreciation of the U.S. dollar against certain other local currencies that negatively affected users’ paying activities, as well as the seasonality during the two Ramadan holidays in the Middle East.
However, BIGO Live’s monthly active users (MAUs) reached 32.6 million, up 10.6% year over year, in the second quarter.
In the last reported quarter, global average mobile MAUs declined 11.2% year over year to 273.1 million due to the decrease in average mobile MAUs of Likee and Hago as the company reduced spending on user acquisition via advertisement.
Nonetheless, JOYY’s innovative product launches in the second quarter, incorporating Bigo Live‘s virtual live and community, Likee’s Loop, interest-based community feature, and HAGO’s 3D HAGO space, which serve to improve the quality and the efficiency of users' social experience, are expected to have driven revenues in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
JOYY has an Earnings ESP of 0.00% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Splunk , Intuit (INTU - Free Report) and AutoZone (AZO - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Splunk has an Earnings ESP of +9.43 and carries a Zacks Rank #3. The company is slated to report its third-quarter fiscal 2023 results on Nov 30. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 164.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Splunk’s fiscal third-quarter bottom line stands at earnings of 23 cents per share, indicating a robust improvement from the year-ago quarter’s loss of 37 cents per share. Revenues are estimated to grow 27.3% year over year to $845.9 million.
Intuit is slated to report its first-quarter fiscal 2023 results on Nov 29. The company has an Earnings ESP of +3.15% and carries a Zacks Rank #3 at present. INTU's earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing the same on one occasion, the average surprise being 13.8%.
The Zacks Consensus Estimate for Intuit’s quarterly earnings is pegged at $1.17 per share, suggesting a year-over-year decline of 23.5%. Its quarterly revenues are estimated to increase 24.4% year over year to $2.5 billion.
AutoZone has an Earnings ESP of +2.91% and carries a Zacks Rank #3. The company is slated to report its first-quarter fiscal 2023 results on Dec 6. AZO's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16.6%.
For the fiscal first quarter, the Zacks Consensus Estimate for AutoZone’s earnings is pegged at $24.82 per share, indicating a 3.4% year-over-year decrease. Revenues are expected to grow 4.2% to $3.82 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.