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JOYY Reports First Quarter 2024 Financial Results: Net Profit up 34.8% Year Over Year, BIGO Sustains Revenue Growth

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SINGAPORE, May 28, 2024 /PRNewswire/ — JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global leading technology company, announced its unaudited financial results for the first quarter of 2024.

During the first quarter, JOYY’s revenue came in at US$564.6 million. The Company’s core business segment BIGO continued its topline recovery trend, generating revenues of US$505.2 million, a year-over-year increase of 8.0%. JOYY recorded net profit and non-GAAP net profit1 of US$ 45.3 million and US$67.2 million, with GAAP and non-GAAP net margins1 of 8.0% and 11.9%, respectively. The BIGO segment’s net profit and non-GAAP net profit1 reached US$61.0 million and US$71.2 million, with GAAP and non-GAAP net profit margins1 of 12.1% and 14.1%, respectively. JOYY sustained its positive operating cash flows, generating US$75.0 million in the first quarter.

Mr. David Xueling Li, Chairman and Chief Executive Officer of JOYY, commented, “We are off to a good start in 2024, executing on our strategic priorities and delivering results that exceeded our expectations. During the quarter, BIGO maintained its topline recovery momentum, with its revenues increasing by 8.0% year over year, driven by a steady 6.9% increase in paying users. In addition, as we continued to strategically expand and diversify our revenue streams, BIGO’s non-livestreaming revenues grew substantially year over year. Ongoing cost discipline and efficiency improvement contributed to year-over-year increases of 61.8% and 34.8% in GAAP and non-GAAP net profits at the group level, respectively. Backed by our robust cash flow and strong financial position, we remain committed to returning value to our shareholders. In the first quarter of 2024, we repurchased an additional US$54.5 million worth of our shares, reflecting our confidence in the company’s long-term prospects. Looking ahead, we will continue to enhance our product experience and drive operational innovations to generate a sustainable and profitable growth for our global business.”

First Quarter 2024 Financial Highlights

Net revenues for the first quarter of 2024 were US$564.6 million.Net income attributable to controlling interest of JOYY in the first quarter was US$45.3 million, compared to US$28.0 million in the corresponding period of 2023.Non-GAAP net income1 attributable to controlling interest and common shareholders of JOYY in the first quarter was US$67.2 million, compared to US$49.9 million in the corresponding period of 2023.

First Quarter 2024 Business Highlights

In the first quarter, Bigo Live’s revenue continued its year-over-year rebound. Specifically, revenue from developed countries grew by 14.8%, accompanied by a 17.2% increase in paying users in these regions. During the quarter, Bigo Live remained focused on its user acquisition strategy, channeling more resources into developed countries and regions to enhance monetization efficiency, resulting in an 8.9% year-over-year MAU growth in these countries and regions.

Bigo Live continued to grow its content and optimize services for creators. In the first quarter, it organized a variety of innovative online and offline marketing initiatives. In February, Bigo Live participated in the Sanremo Music Festival, the world-famous Italian song contest and awards ceremony. As a partner organizer, Bigo Live showcased ten of its most talented streamers in a two-hour music extravaganza that was streamed worldwide.

Bigo Live launched an intelligent management system for streamers and agencies, which significantly streamlined the contracting and management processes. This efficiency boost led to a 4.9% quarter-over-quarter increase in newly contracted streamers. Family-based operational activities also played a key role this quarter, strengthening social bonds within Bigo Live’s user community. On a sequential basis, its approach yielded a 1.1% increase in paying Family users, a 1.5% rise in contracted streamers within Families, and a 3.2% uptick in daily active users in Family groups. Bigo Live also simplified and upgraded its product features, which resulted in sequential increases of 1.1% in next-day user retention and of 5.4% in average viewer time spent per live session. Enhancements to livestreaming room tools and interactive features contributed to a 5.3% sequential rise in average duration per live session and a 4.4% sequential increase in the number of users going live in multi-guest rooms.

In the first quarter, Likee’s revenue continued to recover year over year and it maintained its profitability. Advertising revenue grew by 1.1 times on an annual basis, and DAUs in the core European market maintained sequential growth.

Likee’s recent launch of interactive gaming features has been instrumental in breaking the ice and fostering connections between users, leading to substantial growth in paying users. During the first quarter, Likee launched a series of engaging online and offline community events for creators, users, and brands. These included the global Likee Party and the MENA Gala in the Middle East co-hosted with Bigo Live. As Likee continued to enhance its creator services and expanded its monetization tools and incentives for premium creators, its number of core creators increased by 13.6% quarter-over-quarter.

Hago sustained positive operating cash flow during the first quarter. Hago’s implementation of more gamified interactions and paid features has effectively boosted user engagement and monetization. A standout success was the rollout of the “Fly Across the World” event, spanning Hago’s major operating countries. By participating in the event, users could “travel” virtually to various countries, collect treasures, claim and nurture their travel companion pets, and tip virtual gifts tailored to each location’s unique culture and traditions. The event received enthusiastic feedback, with nearly one-third of Hago’s total paid users participating. During the first quarter, user engagement on Hago also increased notably, with daily average time spent in social channels rising by 2.8% to 102 minutes, and time spent in multi-guest audio livestreaming rooms up by 2.9% from the previous quarter.

In parallel with its innovative product marketing strategies, JOYY remains steadfast in its commitment to integrating the principles of sustainable development into the core of its local operations worldwide. In March, BIGO launched a series of regional events in the Middle East and Southeast Asia to celebrate Ramadan, fostering a sense of community among users during this festive period. BIGO also forged partnerships with several international charitable organizations, including the Indonesian Cancer Foundation, Saudi Arabia’s Namaa National Association, Bangladesh’s JAAGO Foundation, and Pakistan’s Alkhidmat Foundation. Together, BIGO and these charities initiated a number of charitable donation activities on BIGO’s platforms, inspiring hundreds of thousands of its users to join the cause and provide assistance to local families, patients, and children in need.

JOYY has also actively engaged in dialogues with government agencies, industry leaders, entrepreneurs, and other stakeholders in its key markets to align the Company’s regional operations with the economic and sustainable development goals of local communities. For example, in January, BIGO attended the Jordan-Singapore Tech Alliance Forum, where BIGO and the Information and Communications Technology Association of Jordan jointly signed an MoU. This partnership aims to promote regional technological innovation and facilitate economic growth. In March, BIGO participated in LEAP, the largest technology exhibition in the Middle East, where it showcased its technologies and AI-driven solutions. BIGO’s presence at this prestigious event underscores the Company’s support for the region’s sustainable development and commitment to promoting entrepreneurship, innovation, and digital transformation.

1. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled “JOYY Reports First Quarter 2024 Unaudited Financial Results” issued by the Company on May 29, 2024.

 

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SOURCE JOYY Inc.

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FULTON FINANCIAL CORPORATION APPOINTS DAVID S. SCHULZ TO BOARD OF DIRECTORS

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July 21, 2026

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LANCASTER, Pa., July 21, 2026 /PRNewswire/ — Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the appointment of David S. Schulz as a member of its board of directors (the “Board”) for a term commencing September 14, 2026 and expiring at Fulton’s 2027 annual meeting of shareholders.

“We’re excited to welcome Dave to Fulton’s board of directors,” said Curt Myers, Fulton Chairman, CEO, and President. “Dave brings extensive financial leadership experience gained through more than a decade of service with publicly traded companies. His expertise in finance, strategic planning, risk, and mergers and acquisitions will provide valuable perspective as we continue to execute our growth strategy and create long-term value for our shareholders, customers and communities.”

With the addition of Schulz, Fulton’s Board will have 11 members, and he will serve on the Audit and Risk committees. Schulz has also been appointed to the board of directors of Fulton’s banking subsidiary, Fulton Bank, N.A.

Schulz served as Senior Vice President and Chief Financial Officer of Wesco International, Inc. (“Wesco”) from 2016 to June 2020, Executive Vice President and Chief Financial Officer of Wesco from June 2020 to February 2026 and as Executive Vice President and Special Advisor to the CEO of Wesco from February 2026 until his retirement on May 31, 2026. 

Prior to joining Wesco, Schulz served as Senior Vice President and Chief Operating Officer of Armstrong Flooring, Inc. and was previously Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc. and Vice President of Finance of the Armstrong Building Products division.

Before joining Armstrong World Industries in 2011, he held various financial leadership roles with Procter & Gamble and The J.M. Smucker Company. He was also an officer in the United States Marine Corps.

In 2025, Schulz joined the board of Sterling Infrastructure, Inc., and he was appointed as chair of the audit committee in 2026. He also serves on the company’s compensation and talent development committee.

ABOUT FULTON FINANCIAL CORPORATION

Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,400 employees and operates more than 215 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. Additional information on Fulton can be found at https://investor.fultonbank.com.

Contact: Steve Trapnell
717-291-2739

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SOURCE Fulton Financial Corporation

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Octavio Marquez Elected to MSA Safety Board of Directors

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July 21, 2026

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PITTSBURGH, July 21, 2026 /PRNewswire/ — The Board of Directors of MSA Safety Inc. (NYSE: MSA), a global leader in the development of advanced industrial safety technology products and solutions, today announced that Octavio Marquez, president and chief executive officer of Diebold Nixdorf, has been elected to the company’s Board of Directors. His election was part of the MSA Board’s regular succession plans.

“We are very pleased to have the opportunity to add Octavio to the MSA Board,” said Robert A. Bruggeworth, MSA chairman. “He brings a broad range of executive leadership experience, including strategy development, capital allocation, business transformation and serving international markets, which will serve MSA well.”

“Octavio’s perspectives will be an asset to me and our entire Executive Leadership Team,” said Steven C. Blanco, MSA president and CEO. “It is a pleasure to welcome Octavio to MSA, and I look forward to working with him.”

Mr. Marquez joined Diebold Nixdorf in 2014 and has held senior leadership roles across the company’s Global Banking organization and its Americas region, including as executive vice president of Global Banking and senior vice president of the Americas. Before joining Diebold Nixdorf, Mr. Marquez held leadership positions at Dell EMC, Hewlett Packard Enterprise, IBM and NCR.

Diebold Nixdorf automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, its integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of customers every day. Headquartered in North Canton, Ohio, Diebold Nixdorf employs approximately 20,000 employees globally, supporting more than 100 countries.

Mr. Marquez holds a degree in business and finance from Universidad Iberoamericana and has completed executive education programs at MIT Sloan, The Wharton School and The University of Texas at Austin.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

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SOURCE MSA Safety

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BlueFolder Field Service Software Launches New AI-Powered Features to Transform How Teams Work

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July 21, 2026

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New AI capabilities instantly surface customer insights and transform technician notes into actionable summaries to help field service teams work faster, stay aligned, and deliver better service

AUBURN, Ala., July 21, 2026 /PRNewswire/ — BlueFolder field service software recently announced the launch of two powerful new AI features: AI-Powered Customer Summaries and AI-Powered Field Notes Summarization. Together, these capabilities are designed to eliminate the time-consuming, manual work of reviewing fragmented customer records and lengthy technician notes—giving field service teams instant clarity to respond faster, make smarter decisions, and deliver exceptional service.

BlueFolder expands it’s field service and work order management suite with two exciting new AI field service features.

Built directly into the BlueFolder platform, both features leverage artificial intelligence to automatically compile and summarize complex, unstructured data into clear, easy-to-read overviews. The result: technicians, dispatchers, and managers always have the context they need, right when they need it.

AI-Powered Customer Summaries

As field service organizations grow, customer information becomes increasingly scattered across emails, service request logs, and communication histories. BlueFolder’s AI Customer Summary feature addresses this challenge head-on by consolidating those interactions into a single, actionable snapshot.

Instead of manually digging through multiple records before a service call or customer interaction, teams can now access a real-time summary highlighting key concerns, past service activity, and recent updates. The feature goes beyond basic summarization and surfaces critical business insights such as equipment past due for maintenance, approaching warranty expirations, and proactive revenue opportunities, empowering teams to recommend follow-ups or upgrades directly from the customer record.

Built-in traceability links each summary back to its original source communications, so users can validate insights with confidence, ensuring both speed and accuracy in every customer interaction.

AI-Powered Field Notes Summarization

In many service organizations, technicians log updates across multiple visits, often resulting in long, fragmented notes that are difficult to review at a glance. BlueFolder’s AI Field Notes Summarization feature solves this by automatically condensing multiple technician entries into a structured summary that highlights key milestones, actions taken, and next steps.

Rather than scrolling through pages of updates, managers and dispatchers can immediately understand job status and determine what needs to happen next, improving alignment between field and office teams, accelerating decision-making, and reducing miscommunication. The feature is especially valuable for complex or multi-day jobs, where clear continuity and smooth technician handoffs are critical to delivering consistent service. It’s another featuring making BlueFolder’s work order management software capabilities stronger every day.

“History is one of the most powerful tools a service team has — the problem is it’s usually buried. BlueFolder’s new AI features fix that. Your team walks into every interaction already knowing the customer, knowing the equipment, and exactly where things stand. That changes the entire experience,” says John Shaw, VP, Technology, Service Operations.

AI as a Core Part of the BlueFolder Platform

The launch of these two features reflects BlueFolder’s broader commitment to embedding AI throughout its field service management software as an integrated layer of intelligence that makes every workflow smarter. Rather than requiring teams to change how they work, BlueFolder’s AI capabilities are designed to surface the right information at the right moment automatically, within the tools that technicians, dispatchers, and managers already use every day.

“AI is transforming what’s possible in field service, and BlueFolder is answering that call. These features are the result of deep platform expertise and a clear vision for where the industry is headed. We’re embedding intelligence throughout the platform because we know it makes our customers more competitive, more efficient, and better positioned to grow,” says Stephen Myslicki, Group President of Field Services.

Availability

Both AI-Powered Customer Summaries and AI-Powered Field Notes Summarization are available now to BlueFolder customers as optional, easy-to-enable features within the platform. They are part of BlueFolder’s growing suite of AI-driven capabilities designed to help field service organizations operate more efficiently and scale with confidence.

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SOURCE BlueFolder

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