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JOYY Reports First Quarter 2026 Financial Results: Total Revenue Up 12.4% YoY, Substantially Expanding Shareholder Returns

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SINGAPORE, May 25, 2026 /PRNewswire/ — JOYY Inc. (NASDAQ: JOYY) (“JOYY” or the “Company”), a leading global technology company, today announced its unaudited financial results for the first quarter ended March 31, 2026.

In the first quarter, JOYY’s globally diversified ecosystem continued to take shape, with its three business pillars—social entertainment, advertising, and e-commerce—bolstering one another in a self-reinforcing strategic flywheel. The Company’s total revenues for the quarter grew 12.4% year over year to US$555.7 million, the highest year-over-year growth rate the Company has delivered in recent years. Social entertainment revenue was US$400.4 million, up 3.2% year over year, while the Company’s second growth engine, BIGO Ads ad tech and SHOPLINE e-commerce, continued to scale with strong momentum. BIGO Ads contributed US$124.8 million, up 55.6% year over year, while SHOPLINE revenue increased 16.1% year over year to US$30.5 million. In the first quarter, non-GAAP[1] operating income and non-GAAP[1] EBITDA came in at US$38.0 million and US$45.7 million, up 22.5% and 13.2% year over year, respectively. Operating cash inflow for the quarter was US$46.0 million.

Simultaneously, JOYY announced a new share repurchase program, under which the Company is authorized to repurchase up to US$600 million of its shares until the end of 2028, and a new quarterly dividend program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The new shareholder return program, totaling US$1.5 billion, represents a significant increase compared to the previous program (US$900 million)  announced in 2025. From January 1 to May 22, 2026, JOYY had returned a total of US$156.8 million to shareholders through US$87.9 million in share repurchases and US$68.9 million in dividends, under its 2025 program.

Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, “We delivered a strong start to 2026. Total revenues for the first quarter reached US$555.7 million, up by 12.4% year over year, our strongest year-over-year growth rate in recent years. This quarter marks the first time we are reporting results under our new three-segment structure: Social Entertainment, BIGO Ads, and SHOPLINE. Our AI-driven globally diversified ecosystem is taking shape with social entertainment, advertising, and e-commerce reinforcing one another in a powerful strategic flywheel. With AI serving as the backbone of our entire operations—driving content recommendation, advertising efficiency, and merchant intelligence across all three segments—our business pillars form a closed-loop system that deepens our competitive moat and drives long-term value creation for JOYY and our shareholders.”

First Quarter 2026 Financial Highlights

Net revenues in the first quarter of 2026 were US$555.7 million, representing an increase of 12.4% from US$494.4 million in the first quarter of 2025.

– Social Entertainment revenue increased by 3.2% to US$400.4 million from US$387.8 million in the first quarter of 2025.

– BIGO Ads revenue increased by 55.6% to US$124.8 million from US$80.2 million in the first quarter of 2025.

– SHOPLINE revenue increased by 16.1% to US$30.5 million from US$26.3 million in the first quarter of 2025.

Operating income was US$6.8 million.
 Non-GAAP[1] operating income was US$38.0 million, representing an increase of 22.5% from US$31.0 million in the first quarter of 2025.

Non-GAAP[1] EBITDA was US$45.7 million, representing an increase of 13.2% from US$40.4 million in the first quarter of 2025.

Net cash as of March 31, 2026 was US$3,175.1 million.

Net cash from operating activities was US$46.0 million.

First Quarter 2026 Business Highlights

Social Entertainment Business

In the first quarter, global average mobile MAUs reached 276.3 million, up 6.1% year over year and 1.5% quarter over quarter. Social entertainment revenue increased by 3.2% year over year to US$400.4 million, with livestreaming revenue up 2.4% year over year. Core livestreaming paying users grew 5.9% year over year.

For flagship product Bigo Live, the Company improved its streamer incentive structure, launched targeted support programs for high-quality content categories, and integrated new AI capabilities. These initiatives drove ongoing gains in both content engagement and payment conversion. Number of active streamers increased 1.5% quarter over quarter, and average effective streaming hours per streamer rose 1.4% quarter over quarter. The Company has now fully rolled out AI smart tools for streamers across core markets, meaningfully improving interaction efficiency. In April, AI-generated interactive virtual gifts accounted for 34% of total virtual gift consumption on Bigo Live.

On the operating side, Bigo Live successfully hosted BIGO Awards Gala 2026 in South Korea along with regional galas in countries including Indonesia and the Philippines during the first quarter. These events underscore Bigo Live’s continued commitment to recognizing creator excellence, strengthening regional creator ecosystems, and connecting diverse communities worldwide. Bigo Live continued to pursue content innovation and successfully launched the inaugural BIGO Content Award in North America, drawing over 300 top-tier, highly active streamers to drive measurable growth in DAUs and user retention. Additionally, Bigo Live launched a Ramadan-themed initiative featuring a digital revival of traditional content, which drove user engagement during a key cultural period and reinforced its capability to deliver scalable and localized content experiences across diverse markets.

BIGO Ads Advertising Technology Business

In the first quarter, broader traffic coverage, multi-vertical advertiser expansion, and ongoing algorithm optimization fueled the growth momentum of JOYY’s ad tech business. BIGO Ads generated US$124.8 million in advertising revenue, up 55.6% year over year, with third-party Audience Network ad revenue delivering 78.8% year-over-year growth.

On the supply side, SDK traffic maintained strong growth, up 109% year over year in the first quarter. On the demand side, the Company’s strategic presence across multiple verticals drove an enrichment of its advertiser mix and enhanced ecosystem density. This multi-vertical approach not only accelerated data accumulation and algorithmic iteration, but also strengthened its traffic bidding capabilities. Notably, web-based demand grew 90% year over year and delivered positive sequential growth, while IAA demand sustained 97% year-over-year growth. Geographically, BIGO Ads continued to prioritize high-value developed markets. North America remains its largest market, while Western Europe delivered notable momentum, with revenue up 27% quarter over quarter.

On the algorithm side, BIGO Ads is steadily and prudently scaling its computing infrastructure and strengthening its R&D talent base. By integrating data feedback from advertisers across channels and leveraging the dual growth of traffic scale and advertiser density, BIGO Ads has built a rich behavioral data layer. This enables multi-dimensional, precise user profiling and real-time model iteration, which in turn improves ad delivery efficiency.

SHOPLINE E-Commerce Business

In the first quarter, SHOPLINE delivered strong results. Revenue was US$30.5 million, up 16.1% year over year, with gross margin expanding further to 51.5%. Revenue growth from cross-border merchants remained robust, sustaining over 60% year-over-year growth. This is the first quarter the Company is reporting SHOPLINE as a standalone segment, underscoring the Company’s diversified growth.

As global commerce enters the omnichannel era, merchants increasingly desire autonomy and full-funnel data ownership. The Company is building SHOPLINE as an AI-native, one-stop omnichannel commerce infrastructure that offers merchants a fully open and connectable retail operating system. Through deep integration of payment, logistics, and marketing modules, SHOPLINE empowers merchants across every stage of their journey, from store setup and transactions to fulfillment and full-lifecycle customer retention.

SHOPLINE is accelerating the integration of a suite of AI-powered capabilities. These tools will drive SHOPLINE’s evolution from an enablement tool to an AI-driven commerce engine. AI-powered traffic allocation and automated decision-making will unlock new growth opportunities and new levels of precision across omnichannel retail.

This press release includes certain non-GAAP financial measures as additional clarifying items to aid investors in further understanding the Company’s performance and the impact that these items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. 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 2026 Unaudited Financial Results” issued by the Company on May 26, 2026.

 

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SOURCE JOYY Inc.

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Hong Kong: The New Dubai for Global Founders? Osome Backs the Next Wave

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July 27, 2026

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SINGAPORE, HONG KONG and DUBAI, UAE, July 27, 2026 /PRNewswire/ — Osome, the AI company management platform trusted by 50,000+ tech founders, is expanding support for global founders exploring Hong Kong alongside the UAE, offering another attractive environment for ambitious companies.

For entrepreneurs drawn to Dubai’s low-tax, business-friendly environment, Hong Kong offers many of the same advantages. Under its territorial tax system, profits sourced outside Hong Kong are 100% tax-exempt, with no capital gains, dividend or VAT tax. It also allows 100% foreign ownership, operates under common law, and maintains a stable currency pegged to the US dollar.

Where Hong Kong stands apart is its gateway to Asia’s innovation economy. Its proximity to Shenzhen’s manufacturing base and links to mainland China through CEPA give hardware, IoT, robotics and e-commerce businesses direct access to the Greater Bay Area. Unlike Dubai’s financial free zones, Hong Kong’s common law framework applies across the entire city. It also ranks third globally and first in Asia-Pacific on the Global Financial Centres Index, compared with Dubai’s seventh.

For founders choosing between global hubs, selecting a location is only the first step. Operating across jurisdictions brings added complexity around incorporation, accounting, tax and compliance. Across Singapore, Hong Kong, the UK and the UAE, Osome enables founders to incorporate companies in as fast as 7 days while managing back-office operations, including accounting, bookkeeping and compliance.

As companies become increasingly global, founders are also looking for smarter ways to manage these operations. Osome is also embedding AI into company management through its Model Context Protocol (MCP) server, turning founders’ preferred AI assistants into a business command center. Through Claude, ChatGPT, and Gemini, founders can securely retrieve transactions, shareholder records, financial reports, and other company data from a single AI interface.

Eugenio Ferrante, CEO of Osome, said, “Founders expanding across the UAE and Hong Kong are not held back by ambition, but by administrative drag. A few years ago, managing entities in more than 1 market meant hiring separate accountants, navigating endless email chains, and losing 40 hours a month to basic compliance. “We built our platform and MCP integration to help founders manage cross-border operations through AI. Global expansion should take days, not months.”

About Osome

Osome is an AI company-management platform combining human expertise with automation for incorporation, accounting and tax compliance. Since 2017, it has served 50,000+ startups in Singapore, Hong Kong, the UK and the UAE. Learn more at osome.com.

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SOURCE Osome Ltd

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Mapex AI Accelerates Global Growth in Geospatial Intelligence through Strategic Government Projects and International Partnerships

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July 27, 2026

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NOIDA, India, July 27, 2026 /PRNewswire/ — Mapex AI Private Limited, a leading geospatial technology company, continues to strengthen its global presence by delivering innovative, enterprise-grade geospatial solutions that transform complex spatial data into actionable intelligence.

The Company has developed deep expertise in delivering GIS-based Master Planning, Land Information Systems, Property Tax Solutions, Utility Mapping, Digital Twins, Navigation, High-Precision Surveys, Enterprise GIS, and Geospatial Data Infrastructure to support India’s flagship digital governance and infrastructure programmes.

In the past year, Mapex AI has been awarded several large-scale government projects across India, further demonstrating its capabilities in delivering mission-critical geospatial solutions. The Company is supporting emergency response systems under the Dial 112 initiative through advanced geospatial technologies that enhance situational awareness and operational efficiency. Under the Government of India’s AMRUT 2.0 Mission, Mapex AI is deploying advanced drone technologies to capture high-resolution aerial imagery and develop three-dimensional (3D) urban geospatial models, enabling evidence-based planning and the creation of sustainable, future-ready cities.

Mapex AI is also supporting state governments under the Digital India Land Records Modernization Programme (DILRMP) by deploying AI-powered geospatial surveys for land resource management. These solutions help modernize land administration, improve data accuracy, and promote transparency in governance through advanced spatial intelligence.

Expanding beyond India, Mapex AI has successfully delivered AI-powered geospatial services to international partners in Australia and Taiwan, supporting the creation of high-definition GIS maps through 360-degree imagery capture and advanced spatial data processing. The Company has further strengthened its national footprint through empanelment with premier government organizations, including State Space Application Centres, State Development Corporations, and Public Sector Undertakings (PSUs) reinforcing Mapex AI’s capability to execute large-scale geospatial, surveying, mapping, drone, and enterprise GIS projects across multiple sectors.

Commenting on Company’s growth, Co-Founder & CEO Surendra Nath Das said: 

“Geospatial intelligence is becoming the foundation of smarter governance and sustainable infrastructure development. At Mapex AI, we are committed to delivering innovative, technology-driven solutions that empower governments and enterprises to make faster, more informed decisions. As India accelerates its digital transformation journey, we remain focused on developing scalable geospatial platforms that create lasting value for governments, businesses, and citizens while contributing to sustainable economic growth.”

Driven by innovation, Mapex AI invests in Artificial Intelligence (AI), automation, cloud computing, drone technologies, remote sensing, and geospatial intelligence to develop scalable, future-ready solutions.

Media Contact: 

Mapex AI Private Limited
Website: www.mapex.ai 
Email: contact@mapex.ai 

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India Electrical Switches Market to Reach USD 1,864.83 Million by 2032 – Credence Research

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July 27, 2026

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PUNE, India, July 27, 2026 /PRNewswire/ — The “India Electrical Switches Market – Growth, Share, Opportunities & Competitive Analysis, 2026–2032” report has been added to the Credence Research Inc. offering.

The India Electrical Switches Market was valued at USD 1,056.93 million in 2025 and is projected to reach USD 1,864.83 million by 2032, registering a CAGR of approximately 8.36% from 2026 to 2032. Market growth is supported by expanding residential construction, commercial development, infrastructure modernization, and rising demand for modular, smart, touch-enabled, and aesthetically designed switches. Increasing consumer awareness, urban electrification, organized retail expansion, and growing adoption of home automation systems are strengthening demand across both mature metropolitan markets and emerging tier 2 and tier 3 cities.

Key Takeaways

The India Electrical Switches Market is projected to grow from USD 1,056.93 million in 2025 to USD 1,864.83 million by 2032 at a CAGR of approximately 8.36%.Residential construction, commercial real estate, infrastructure investment, and institutional development remain major sources of electrical switch demand.Modular and smart switches are gaining adoption as consumers prioritize safety, convenience, visual appeal, and compatibility with connected home systems.West India leads with a 35.48% share, followed by South India at 26.54%, North India at 23.47%, and East India at 14.50%.Organized retail, project sales, and e-commerce channels are expanding market access and supporting wider availability of branded switches.

Scope & Segmentation – India Electrical Switches Market

The report provides a comprehensive analysis of the India Electrical Switches Market, covering revenue forecasts from 2026 to 2032. It evaluates market drivers, trends, challenges, growth opportunities, competitive dynamics, and regional developments influencing demand across residential, commercial, industrial, institutional, and infrastructure applications.

The study examines how changing consumer preferences, smart home adoption, electrical safety awareness, premium housing development, and organized distribution are transforming the competitive landscape. It also evaluates demand across economy, mid-range, premium, and luxury product categories and analyzes the growing role of modular, smart, touch, and multifunctional switching systems.

The India Electrical Switches Market is segmented based on type, mechanism, end-user, price range, sales channel, and region.

By Type, the market includes Modular Switches, Conventional Switches, Smart Switches, Touch Switches, Push Button Switches, and Other Switches.By Mechanism, the market includes One-Way and Bidirectional/Intermediate Multifunctional switches.By End-User, the market includes Residential, Commercial, Industrial, Institutional, and Infrastructure & Utilities.By Price Range, the market includes Economy, Mid-Range, Premium, and Luxury/Designer products.By Sales Channel, the market includes Retail Hardware Stores, Modern Retail/Home Improvement Stores, OEMs & Project Sales, and E-Commerce.By Region, the market is analyzed across North India, South India, West India, and East India.

Access crucial information at unmatched prices!

Request your sample report today and start making informed decisions powered by Credence Research Inc. – https://www.credenceresearch.com/report/india-electrical-switches-market 

Why This Report Matters

This report provides a detailed view of a rapidly evolving electrical products market supported by construction growth, electrification, and rising demand for modern switching solutions.It helps decision-makers understand how modular design, smart home integration, safety requirements, and premiumization are influencing product selection.The study evaluates regional market shares, growth rates, and absolute revenue opportunities across North, South, West, and East India.For manufacturers, distributors, retailers, contractors, real estate developers, and investors, the report provides actionable intelligence to support product planning, distribution expansion, and long-term market strategy.

Market Overview

Industry Landscape and Value Chain AssessmentSupply-Side EvaluationDemand-Side EvaluationStakeholder MappingPorter’s Five Forces ReviewPESTLE Environment AssessmentMarket Forecast and Future DirectionShort-Term Forecast, 0–2 YearsMid-Term Forecast, 3–5 YearsLong-Term Forecast, 5–10 YearsMarket Entry and Expansion Strategy

Market Insights

Customer and End-User AnalysisCustomer Experience ComparisonGrowth Opportunity AssessmentChannel and Distribution ReviewPricing Movement AnalysisRegulatory and Compliance ReviewSustainability and ESG AssessmentRisk and Disruption AnalysisInvestment Return and Cost Evaluation

Key Attributes

Attribute

Details

Market Size 2025

USD 1,056.93 Million

Market Size 2032

USD 1,864.83 Million

CAGR

8.36 %

Forecast Period

2026–2032

Base Year

2025

Segmentation Covered

Type, Mechanism, End-User, Price Range, Sales Channel, Region

Key Regions

North India, South India, West India, East India

Major Players

Legrand India, Schneider Electric India, Anchor by Panasonic, Havells India Limited, GM Modular Pvt. Ltd., Goldmedal Electricals Pvt. Ltd., Wipro Consumer Lighting, V-Guard Industries Ltd., Polycab India Limited, BCH Electric Limited, ABB India, Lauritz Knudsen Electrical & Automation, RR Kabel Limited, Finolex Cables, GreatWhite Global Pvt. Ltd.

Segmentation

By Type

Modular SwitchesConventional SwitchesSmart SwitchesTouch SwitchesPush Button and Other Switches

By Mechanism

One-WayBidirectional/Intermediate Multifunctional

By End-User

ResidentialCommercialIndustrialInstitutionalInfrastructure & Utilities

By Price Range

EconomyMid-RangePremiumLuxury/Designer

By Sales Channel

Retail Hardware StoresModern Retail/Home Improvement StoresOEMs & Project SalesE-Commerce

By Region

North IndiaSouth IndiaWest IndiaEast India

Regional Growth Reflects Construction Expansion, Urban Electrification, and Smart Product Adoption

West India leads the India Electrical Switches Market with a 35.48% share. The region is projected to generate an absolute revenue growth opportunity of USD 267.28 million between 2025 and 2032, expanding at a CAGR of 7.70%. Maharashtra and Gujarat remain the primary demand centers due to large residential projects, commercial development, industrial activity, and infrastructure investment. Mumbai, Pune, Ahmedabad, Surat, and other urban markets also support strong demand for premium, smart, modular, and aesthetically designed switches.South India holds the second-largest regional share at 26.54%. The region is expected to create an absolute revenue opportunity of USD 224.34 million from 2025 to 2032, registering a CAGR of 8.83%. Growth is driven by rapid urban development, IT parks, data centers, institutional construction, manufacturing facilities, and premium residential projects across Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Kerala. High consumer awareness and strong organized retail penetration support adoption of modular, smart, touch, and designer switches.

Market Challenges Include Price Competition, Unorganized Supply, and Technology Integration Costs

The India Electrical Switches Market faces strong price competition, particularly in the economy and mid-range segments. Regional and unorganized manufacturers compete aggressively on pricing, which can pressure margins for branded companies and slow consumer migration toward higher-quality products in price-sensitive markets.

Counterfeit and low-quality electrical products also create safety concerns and affect brand trust. Limited awareness of product certification, electrical safety standards, and long-term durability can encourage customers to select lower-cost alternatives, especially in smaller cities and rural markets.

Smart and touch switches face additional adoption barriers linked to higher upfront costs, compatibility requirements, installation complexity, and dependence on stable connectivity. Manufacturers must balance advanced features with affordability and ease of installation to expand beyond premium residential and commercial applications.

Future Outlook

The India Electrical Switches Market is expected to maintain steady growth through 2032 as residential construction, commercial real estate, industrial expansion, and infrastructure modernization continue to generate demand. Modular switches will remain widely adopted due to their safety, flexibility, and modern design, while conventional switches will retain demand in economy-focused and replacement markets.

Smart switches, touch switches, and connected control systems are expected to gain stronger traction as home automation and energy management become more common. Premium residential projects, hotels, offices, hospitals, data centers, and institutional buildings will support demand for feature-rich and aesthetically differentiated products.

E-commerce and modern retail channels will improve product access and price transparency, while OEM and project sales will remain important for large construction and infrastructure contracts. Manufacturers that combine broad distribution, reliable quality, strong branding, and smart product innovation will be best positioned to capture future growth.

Competitive Landscape

The India Electrical Switches Market includes domestic electrical product manufacturers, multinational companies, cable and wiring brands, modular switch specialists, and smart home technology providers. Competition centers on price, safety, design, distribution reach, product durability, smart functionality, and brand recognition.

Leading companies are expanding modular and connected product portfolios while strengthening retail, dealer, electrician, architect, and project-contractor networks. Product differentiation increasingly focuses on aesthetic finishes, touch controls, voice integration, automation compatibility, fire-resistant materials, and energy management features.

Organized manufacturers benefit from quality certification, broad product portfolios, after-sales support, and established project relationships. Regional players compete through lower pricing and local distribution strength, particularly in economy and replacement applications.

Key Player Analysis

Legrand IndiaSchneider Electric IndiaAnchor by PanasonicHavells India LimitedGM Modular Pvt. Ltd.Goldmedal Electricals Pvt. Ltd.Wipro Consumer LightingV-Guard Industries Ltd.Polycab India LimitedBCH Electric LimitedABB IndiaLauritz Knudsen Electrical & AutomationRR Kabel LimitedFinolex CablesGreatWhite Global Pvt. Ltd.

Report Coverage

The research report offers an in-depth analysis based on Type, Mechanism, End-User, Price Range, Sales Channel, and Region. It details leading market players, providing an overview of their businesses, product portfolios, investments, distribution strategies, and key end-user applications.

The report also includes insights into the competitive environment, current market trends, and the primary drivers and challenges influencing market development. It evaluates the effects of smart home adoption, construction activity, product premiumization, organized retail expansion, and changing consumer expectations on the electrical switches industry.

The study further assesses regional demand patterns, absolute revenue opportunities, pricing dynamics, and channel developments across India. It provides strategic recommendations for new entrants and established companies seeking to strengthen their position in the India Electrical Switches Market.

Access crucial information at unmatched prices!

Request your sample report today and start making informed decisions powered by Credence Research Inc. – https://www.credenceresearch.com/report/india-electrical-switches-market 

Shape Your Report to Specific Countries or Regions and Enjoy 30% Off!

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About Us

Credence Research Inc is a global market intelligence and consulting firm founded in 2015. It delivers deep market insights, quantitative analysis, and strategic guidance to business leaders, investors, governments, NGOs, and non-profit groups worldwide. The company helps organizations evaluate markets, understand trends, reduce risk, and make data-driven decisions that support growth and competitive strategy. Credence Research is known for rigorous research methods and comprehensive analytics.

The firm produces detailed reports covering market size, forecasts, growth drivers, trends, and competitive landscapes across many industries. Each report often includes frameworks like PESTLE and Porter’s Five Forces to give a complete view of market dynamics and future potential. Credence Research also provides tailored consulting services, due diligence support, go-to-market planning, and pre-IPO research to strengthen client strategies and investment narratives. Its insights come from both primary and secondary research, expert interviews, and advanced data modelling. The firm’s client base spans Europe, the Americas, Asia-Pacific, and the Middle East/Africa.

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