0433 GMT - JOYY's near-term outlook may be supported by the advertising business and strong shareholder returns, says Deutsche Bank Research analyst Leo Chiang in a research note. Non-live-streaming revenue growth is likely to accelerate in 2Q, particularly in terms of ads, driven by favorable seasonality and the company's increasing emphasis on this business, Chiang says. Still, the analyst lowers the FY 2025 revenue forecast by 3% on a weaker live-streaming outlook, but keeps the adjusted net profit estimate largely unchanged to reflect a better margin outlook. The investment bank says the company's strong shareholder returns are attractive. It maintains a buy rating with a target price of $60.00. The ADRs last traded at $7.03. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
June 04, 2025 00:33 ET (04:33 GMT)
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