JOYY Inc. (NASDAQ:YY) Q2 2023 Earnings Call Transcript

To sum up, we’ll continue to value profit and cash flow self-sufficiency and we will drive further improvement in our operational efficiency. And at group level, we expect to remain profitable and continue to generate positive operating cash flow. Thank you. Next question, please.

Operator: Thank you. Your next question comes from Yiwen Zhang with China Renaissance. Please go ahead.

Yiwen Zhang: [Foreign Language] My question is on shareholder return. So can you update us on our latest progress on share buyback and how should we think about future buyback space? Thank you.

Alex Liu: [Foreign Language] [Interpreted] Thank you for your question. This is Alex. In Q2, as mentioned last quarter, we substantially accelerated our share repurchases and buyback approximately 214 million of our shares during the quarter. So for the first half of this year in total, including our share buybacks and dividends, we have returned around 300 million to our shareholders. You may also infer our commitments to reward the long-term support of our shareholders from that number. As of the end of Q2, we still have around 570 million unutilized quota under our current share repurchase program. We will continue to actively utilize share buyback in the following quarters to reward support of our shareholders. Thank you.

Jane Xie: So that was the end of our call. Thank you so much for joining today. We look forward to speaking with everyone next quarter. Thank you.

Operator: That does conclude our conference for today. Thank you for participating. You may now disconnect.