Business
JOYY Shares Surge Over 17% as Strong Q1 Revenue Growth and $1.5 Billion Shareholder Return Plan Spark Optimism
NEW YORK — Shares of JOYY Inc. jumped more than 17% in midday trading Wednesday after the Singapore-based technology company reported first-quarter results that showed its fastest year-over-year revenue growth in recent years and unveiled an expanded $1.5 billion shareholder return program.
The stock climbed to $63.95, up $9.53 or 17.50%, as of about 1:15 p.m. EDT, with heavy volume reflecting strong investor reaction to the earnings beat and capital return announcement. The move followed a more modest session the prior day, highlighting the market’s focus on the company’s progress in diversifying its business.
JOYY, known for its global social entertainment platforms including Bigo Live, reported net revenues of $555.7 million for the quarter ended March 31, 2026, up 12.4% from $494.4 million a year earlier. The figure exceeded analyst consensus estimates around $543 million and marked the highest year-over-year growth rate in recent periods.
Social entertainment revenue, the company’s core segment, rose 3.2% to $400.4 million. BIGO Ads, its advertising technology business, surged 55.6% to $124.8 million, while SHOPLINE, the e-commerce platform, grew 16.1% to $30.5 million. The results reflect JOYY’s shift toward a three-pillar structure where social entertainment, advertising and e-commerce reinforce one another.
Non-GAAP operating income increased 22.5% to $38.0 million, and non-GAAP EBITDA rose 13.2% to $45.7 million. Operating cash flow came in at $46.0 million, contributing to a solid net cash position of $3.18 billion at quarter-end.
“We delivered a strong start to 2026,” said Ting Li, JOYY’s chairperson and chief executive officer. “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.”
The company also announced a new shareholder return initiative totaling $1.5 billion through 2028, including up to $600 million in share repurchases and approximately $900 million in quarterly dividends. This expands on a previous $900 million program and underscores confidence in its cash generation capabilities.
From January to late May 2026, JOYY had already returned $156.8 million to shareholders under the prior program, including $87.9 million in repurchases and $68.9 million in dividends.
Business Momentum Across Segments
JOYY’s social entertainment business showed signs of stabilization and modest recovery. Global average mobile monthly active users reached 276.3 million, up 6.1% year-over-year. Core livestreaming paying users grew 5.9%. Bigo Live benefited from improved streamer incentives, AI tools for content creation and targeted regional events, including galas in South Korea, Indonesia and the Philippines.
BIGO Ads continued its rapid expansion, driven by broader traffic coverage, multi-vertical advertiser growth and algorithm optimizations. Third-party Audience Network revenue jumped 78.8%. SDK traffic grew 109% year-over-year, with strong gains in North America and Western Europe.
SHOPLINE, now reported as a standalone segment, posted healthy growth with gross margins expanding to 51.5%. Cross-border merchant revenue rose more than 60%, as the platform positions itself as an AI-native omnichannel commerce infrastructure.
Analysts have generally viewed the results positively. The company provided second-quarter revenue guidance of $562 million to $581 million, above consensus estimates around $559 million.
Company Background and Strategy
Founded in 2005 and listed on Nasdaq in 2012, JOYY operates a portfolio of social platforms focused on live streaming and short-form video. Its flagship Bigo Live serves users across more than 150 countries, emphasizing real-time interaction and creator economies. The company has increasingly invested in AI to enhance content recommendation, ad targeting and merchant tools.
Headquartered in Singapore with significant operations in Asia, JOYY has navigated a challenging post-pandemic environment for social entertainment while building advertising and e-commerce as growth engines. The integration of AI across segments aims to create a self-reinforcing ecosystem that deepens user engagement and monetization opportunities.
Wall Street has shown optimism. Multiple analysts maintain “Buy” ratings, with average price targets suggesting substantial upside from recent levels. The stock has traded in a 52-week range of roughly $42 to $71.
Market Reaction and Outlook
The sharp intraday gain reflects relief that social entertainment has returned to growth while newer businesses accelerate. Investors appear to appreciate the combination of operational progress, a robust balance sheet and aggressive capital returns in an environment where many tech companies face scrutiny over profitability and growth sustainability.
However, challenges remain. The social sector is highly competitive, with platform fatigue and regulatory risks in key markets. Currency fluctuations, particularly in emerging markets where JOYY derives significant revenue, could pressure results. The company has noted foreign exchange impacts in past quarters.
Broader market context also plays a role. Technology shares have been volatile amid interest rate expectations and economic data, but consumer-facing internet platforms with strong cash flows have found favor.
JOYY executives expressed confidence in the strategic flywheel. AI investments are expected to drive further efficiency in content, advertising and commerce, potentially supporting sustained growth into the second half of 2026 and beyond.
The company plans to continue hosting regional events and rolling out AI features for streamers and merchants to maintain engagement momentum.
As of midday Wednesday, the rally had pushed JOYY’s market capitalization above $3 billion. Trading volume was elevated compared to recent averages, signaling broad participation.
Looking ahead, JOYY’s ability to execute on its $1.5 billion return program while investing in growth will be key. The second-quarter guidance suggests continued momentum, though management will need to navigate macroeconomic uncertainties and competitive dynamics.
For a company that has evolved from primarily a live-streaming player to a diversified tech ecosystem, Wednesday’s results and stock reaction underscore improving investor sentiment around its long-term positioning. Whether the momentum sustains will depend on consistent delivery in upcoming quarters.
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Donovan Mitchell Sidesteps LeBron James Reunion Speculation After Knicks Sweep Cavaliers
CLEVELAND — Donovan Mitchell declined to engage with questions about a potential LeBron James return to the Cleveland Cavaliers following the team’s four-game Eastern Conference finals sweep at the hands of the New York Knicks.
The Cavaliers were eliminated from the postseason Monday night with a 130-93 home loss in Game 4 at Rocket Mortgage FieldHouse. The defeat completed a 4-0 series loss to the Knicks, who advanced to the NBA Finals for the first time since 1999.
After the game, Mitchell was asked about speculation that James could leave the Los Angeles Lakers this offseason and make a third stint with the Cavaliers. The 29-year-old guard made it clear the topic was not one he wished to address.
“We just ended the game,” Mitchell said. “That is not for me. I’m not trying to get a headline, that’s not for me. I’m not going to answer that. That’s a (Cavaliers president of basketball operations) Koby Altman question. It’s a (Cavaliers general manager) Mike Gansey question because I know no matter what I say, no matter how I say it, and how I try to navigate it, it’s going to be a thing. So, I’m sorry, I’m not going to give you anything.”
James, who turned 41 in December, is set to become an unrestricted free agent this summer. The Akron native led the Cavaliers to their only NBA championship in 2016 and remains deeply revered by the city’s fans. He averaged 20.9 points, 7.2 assists and 6.1 rebounds per game for the Lakers during the 2025-26 regular season.
Mitchell instead focused on the current roster and the lessons learned from the series. He expressed confidence that the group could improve and reach the NBA Finals in the future.
“I have no doubt that this group can get there,” Mitchell said. “I’ve said that all year. The biggest thing is you just use it as a learning lesson. It’s a tough learning lesson, but now we know. This team that we just faced had to go through this. Maybe not this way, but they’ve been together, they’ve been a core group and had to go through this tough experience. So, this is our turn.”
The Cavaliers acquired James Harden in February, creating a backcourt trio of Mitchell, Harden and Darius Garland. Harden is expected to opt out of his current contract and sign a new multi-year deal with Cleveland this summer.
Mitchell voiced strong support for coach Kenny Atkinson, who has faced criticism from some fans after the sweep. “I’m sorry for the city of Cleveland,” Mitchell added. “For it to be like this and the sweep. That’s a—. But I told y’all last year, and I’ll say again, we’ll be back. We’ll be ready. We’ll be hungry. And we’ll be locked in.”
The Knicks dominated the series after an overtime victory in Game 1. New York won the next three games by double digits, including Monday’s 37-point blowout. Jalen Brunson earned Eastern Conference finals MVP honors as the Knicks advanced to face either the Oklahoma City Thunder or San Antonio Spurs in the NBA Finals.
Cleveland’s season ended with disappointment despite a strong regular campaign that positioned them as one of the East’s top teams. Mitchell delivered consistent performances throughout the postseason, but the supporting cast struggled to match New York’s intensity and depth.
The series exposed areas where the Cavaliers need improvement, particularly in half-court execution and physicality against elite competition. Mitchell’s belief in the core suggests the front office may prioritize continuity rather than major roster overhauls this offseason.
James’ potential return would represent a seismic shift for the franchise. His presence could provide veteran leadership and scoring punch, but it would also require significant salary cap maneuvering and roster adjustments. Cleveland’s current group has chemistry built over multiple seasons, and disrupting that dynamic carries risks.
Mitchell’s refusal to speculate on James reflects a professional approach focused on the present. By deferring to front office executives, he avoided creating additional headlines during an emotional night for the organization and its fans.
The Cavaliers will enter the offseason with important decisions ahead. Mitchell becomes extension-eligible, and retaining both him and Harden will be priorities. The team must also evaluate supporting pieces and potential draft assets to address weaknesses exposed in the postseason.
Cleveland’s front office has built a competitive roster around Mitchell since his acquisition from the Utah Jazz. The addition of Harden signaled an intent to push for a championship window. Whether that window remains open with the current core or requires further changes will be a central topic throughout the summer.
For Mitchell, the focus remains on growth and preparation. He has established himself as one of the league’s premier guards and a leader capable of elevating those around him. His comments after the sweep demonstrated accountability and optimism despite the painful defeat.
The Knicks’ series victory highlighted the gap between the teams at this stage. New York’s experience, depth and defensive intensity proved too much for Cleveland. The Cavaliers will study the matchup closely as they aim to close that gap next season.
James has not publicly commented on his future plans. His decision will be one of the biggest storylines of the offseason, with several contenders expected to pursue the 21-time All-Star. A return to Cleveland would reunite him with Mitchell and create one of the most intriguing partnerships in the Eastern Conference.
As the NBA season winds down, attention shifts to the draft, free agency and potential trades. The Cavaliers enter this period with both promise and uncertainty. Mitchell’s leadership and belief in the group provide a foundation, but execution and roster tweaks will determine if they can take the next step.
The 2025-26 campaign represented progress for Cleveland, but falling short in the conference finals will fuel motivation heading into next year. Mitchell’s message of resilience and future readiness offers hope to a fanbase hungry for sustained success.
For now, the focus remains on reflection and recovery. The Cavaliers will regroup, evaluate the season and prepare for the challenges ahead. Mitchell’s refusal to engage with external noise underscores his commitment to the task at hand and the team he currently leads.
As summer approaches, Cleveland’s basketball future remains fluid. Whether it includes LeBron James or centers on the current core, the organization faces critical decisions that will shape its trajectory for years to come.
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Toyota recalls 43,500 Tundra trucks after engine debris raises stall risk
‘Barron’s Roundtable’ panelists discuss Toyota’s stock hitting an all-time high this week and the impact of EV slowdown on Ford and General Motors.
Toyota is recalling more than 43,000 of its 2024 Tundra pickup trucks because debris left behind during the manufacturing process could contaminate the engine and increase the risk of a crash, according to the National Highway Traffic Safety Administration (NHTSA).
The recall affects approximately 43,566 model year 2024 Toyota Tundra vehicles and is listed under NHTSA recall number 26V320, according to the federal safety agency.
NHTSA said debris inside the engine could cause the main bearing to fail, potentially leading to engine knocking, rough running, stalling or a failure to start altogether.
The agency warned that an engine stall could result in a sudden loss of drive power, increasing the risk of a crash, particularly at higher speeds.
TOYOTA RECALLS MORE THAN 144,000 LEXUS VEHICLES OVER REARVIEW CAMERA FAILURE RISK

Close-up of sign with logo on building facade at the San Francisco regional headquarters of automotive company Toyota in the Bishop Ranch office park in San Ramon, California, October 20, 2017. (Smith Collection/Gado/Getty Images / Getty Images)
The latest recall expands on two previous recalls issued in May 2024 and November 2025 involving certain Toyota and Lexus vehicles with similar engine contamination concerns, according to NHTSA. Those recalls included certain 2022 through 2024 Lexus LX and Toyota Tundra models, along with some 2024 Lexus GX vehicles.
NHTSA’s recall report did not immediately list any crashes, injuries or deaths connected to the issue.
Toyota did not immediately respond to FOX Business’ request for comment.
According to the recall report, a remedy is still being developed. Owners of affected vehicles are expected to receive notification letters by July 6.
TOYOTA RECALLS 73K HYBRID VEHICLES OVER PEDESTRIAN WARNING SOUND ISSUE

A new Toyota Tundra truck for sale at a Toyota dealership in Yuma, Arizona, US, on Monday, March 31, 2025. (Eric Thayer/Bloomberg via Getty Images / Getty Images)
Once Toyota finalizes the repair solution, affected vehicle owners will be able to have the issue fixed free of charge.
Toyota has issued several major recalls in recent months. In March, the automaker recalled more than 550,000 Highlander and Highlander Hybrid vehicles over a seat-back locking issue that could increase the risk of injury during a crash. Toyota also recalled roughly 141,000 Prius and Prius Prime vehicles earlier this year over rear doors that could unexpectedly open while the vehicle was moving.

A model year 2024 Toyota Tundra pickup truck on the road. (Toyota Motor Co. / Fox News)
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Drivers can contact Toyota customer service at 1-800-331-4331 for additional information.
Vehicle owners can also search for their vehicle identification number (VIN) on NHTSA.gov to determine whether their vehicle is included in the recall.
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