China Securities Network News (Reporter Wang Hui) On May 29, Beijing time, the US and Chinese concept stocks of Huanju Group (NASDAQ code: YY) released their first quarter financial report for 2024. According to the financial report, in the first quarter of 2024, Huanju Group achieved a revenue of 564.6 million US dollars; Among them, the company's core segment BIGO (a global real-time video social platform) generated revenue of 505.2 million US dollars, a year-on-year increase of 8%. Under non US GAAP accounting standards, the company's net profit in the first quarter increased by 34.8% year-on-year to $67.2 million; The net profit margin of the company reached 11.9% in the current quarter, an increase of 3.4 percentage points year-on-year. In addition, the company achieved a positive operating cash flow of $75 million in the first quarter.
In addition, in the first quarter of 2024, Huanju Group continued to actively promote repurchases, with a cumulative increase of $54.5 million in repurchased shares, reflecting Huanju Group's confidence in the company's long-term growth.