JOYY Inc. (JOYY) Gross Margin (2011 - 2025)

Joyy (JOYY) has reported Gross Margin for 15 consecutive years, with 35.34% the latest figure, recorded in Q4 2025.

• In Q4 2025, Gross Margin fell 175.0% year-over-year to 35.34%; the TTM figure through Dec 2025 stood at 35.9% (down 13.0% YoY), while the FY2025 annual figure was 35.9%, down 13.0% from the prior year.
• Gross Margin came in at 35.34% for Q4 2025 at Joyy, down from 35.75% in the prior quarter.
• The five-year high for Gross Margin was 37.53% in Q3 2022, with the low at 30.74% in Q2 2021.
• Average Gross Margin over 5 years is 35.04%, with a median of 35.35% recorded in 2023.
• Across the five-year window, Gross Margin surged 590 bps in 2022 and sank 175 bps in 2025, its largest moves.
• Year by year, Gross Margin stood at 33.68% in 2021, then increased by 4 bps to 35.1% in 2022, then climbed by 1 bps to 35.36% in 2023, then gained by 5 bps to 37.09% in 2024, then declined by 5 bps to 35.34% in 2025.
• According to Business Quant data, Gross Margin over the past three periods registered 35.34%, 35.75%, and 36.48% for Q4 2025, Q3 2025, and Q2 2025 respectively.