Joyy (JOYY) Operating Expenses (2011 - 2025)
Joyy (JOYY) posted quarterly Operating Expenses of -$187.8 million for Q4 2025, up 70.35% year-over-year from -$110.3 million in Q4 2024, and down 7.81% quarter-over-quarter from -$174.2 million in Q3 2025.
Joyy (JOYY) Operating Expenses (2011 - 2025) Analysis & Trends
Joyy's Operating Expenses history runs 15 years deep, the most recent figure standing at -$187.8 million for Q4 2025.
- In Q4 2025, Operating Expenses rose 70.35% year-over-year to -$187.8 million; the TTM figure through Dec 2025 stood at -$709.1 million (up 41.85% YoY), while the FY2025 annual figure was $709.1 million, down 41.85% from the prior year.
- Operating Expenses for Q4 2025 stood at -$187.8 million, down from -$174.2 million in the prior quarter.
- The five-year high for Operating Expenses was -$167.2 million in Q1 2025, with the low at -$633.5 million in Q4 2024.
- The 5-year median for Operating Expenses is -$197.0 million (2024), against an average of -$225.3 million.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses plunged 217.65% in 2024, then surged 70.35% in 2025.
- Joyy's Operating Expenses stood at -$168.2 million in 2021, then tumbled by 37.41% to -$231.2 million in 2022, then rose by 13.73% to -$199.4 million in 2023, then slumped by 217.65% to -$633.5 million in 2024, then soared by 70.35% to -$187.8 million in 2025.
- Business Quant data shows JOYY's Operating Expenses at -$187.8 million in Q4 2025, -$174.2 million in Q3 2025, and -$179.8 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,255.28 Bn | 3,826.24 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,552.50 Bn | 1,462.24 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Taboola.com | 1,147.41 Bn | 1,147.28 Bn | 139.48 Mn | 132.22 Mn |
| 4 | Baidu | 288.87 Bn | 284.38 Bn | 1.88 Mn | 4.19 Bn |
| 5 | Spotify Technology | 104.29 Bn | 94.05 Bn | 1.75 Bn | 512.79 Mn |
| 6 | Joyy | 78.58 Bn | 77.69 Bn | 205.64 Mn | -187.82 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 303,858.00 |
| 8 | Nebius | 49.09 Bn | 39.47 Bn | 295.20 Mn | 527.00 Mn |
| 9 | 30.80 Bn | 28.01 Bn | 734.60 Mn | 573.19 Mn | |
| 10 | Tencent Music Entertainment | 27.36 Bn | 24.66 Bn | 514.00 Mn | -176.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -187.82 Mn |
| Sep 30, 2025 | -174.22 Mn |
| Jun 30, 2025 | -179.85 Mn |
| Mar 31, 2025 | -167.25 Mn |
| Dec 31, 2024 | -633.48 Mn |
| Sep 30, 2024 | -191.96 Mn |
| Jun 30, 2024 | -198.67 Mn |
| Mar 31, 2024 | -195.42 Mn |
| Dec 31, 2023 | -199.43 Mn |
| Sep 30, 2023 | -191.26 Mn |
| Jun 30, 2023 | -191.71 Mn |
| Mar 31, 2023 | -205.34 Mn |
| Dec 31, 2022 | -231.15 Mn |
| Sep 30, 2022 | -202.21 Mn |
| Jun 30, 2022 | -184.97 Mn |
| Mar 31, 2022 | -200.56 Mn |
| Dec 31, 2021 | -168.23 Mn |
| Sep 30, 2021 | -208.68 Mn |
| Jun 30, 2021 | -314.01 Mn |
| Mar 31, 2021 | -279.01 Mn |