Executing the three aforementioned growth strategies, we achieved solid operational performance during the second quarter of 2020. View All. Moreover, our user data analytics has led us to upgrade a number of features in HAGO such as party chat room and user groups in order to enhance user experience, stimulate social interaction, improve user community and group penetration, enhance HAGO's social nature and increase its user stickiness. As a result, the event struck a societal nerve, enticed a large number of female Russian users to voluntarily create and share short-form videos and generated more than 200 million cumulative views on the platform, thus making a perfect stage for bolstering our partner's brand exposure in the local market. That's why we're seeing participation from the DAUs or Bigo Live is much higher than any other live streaming platform in China. Furthermore, we plan to enhance our monetization capability in areas including advertisement and e-commerce.

Our next question comes from Yiwen Zhang from Citi. You can change your choices at any time by visiting Your Privacy Controls. Under this policy, quarterly dividend will be set at approximately $25 million in each fiscal quarter. The company is engaged in creating and sharing entertainment content and activities. [Operator Instructions] After the management's prepared remarks, there will be a question-and-answer session. After our live streaming celebrity variety show, Idol Friday, became a smach hit upon launch has continued to attract additional viewers in the second quarter.

Changed the name as “Huanjujituan”, and the English name is “Joyy Inc.”, “Huya”was listed (NYSE: HUYA), its market cap hit over 10 billion in the first year of its IPO, Launched “Yijian”, an online commerce platform, Registered users of YY reached one billion, “100 Education”and “Huya”were officially founded, Hunan TV assigned “YY”as the official communication platform for the singing competition "Happy Boys", YY Group was listed (NASDAQ:YY) and its new brand name “Huanjushidai”was announced at the same time, Launched YY Education, started a new business in the education domain, Launched web and mobile version of “YY”, a new star of live streaming industry was born, YY Client served two million users simultaneously on line, Unique visitors of “Duowan.com” exceeded 20 million, Unique visitors of “Duowan.com” exceeded 10 million. We commit to accelerate our globalization process and expand our international influence, so as to become a global leading video-based social media platform. Thank you, everyone, for joining our call today. Before it's here, it's on the Bloomberg Terminal. In terms of our cash position, we do have lot of cash onshore and offshore particularly after we sell a portion of Huya shares to Tencent. And Likee has above 5 times the MAU size of Bigo Live, if we take reference of China situation, short video makes much more live streaming revenue than pure live streaming platforms. is responsible for overseeing the methodology that supports the quantitative fair value. Let me address the question. But in general, Likee, I might say, is still on the way, so we foresee Likee's revenue monetization for the second half this year will ramp up.

There is no one analyst in which a Quantitative Star Rating and Fair Value Estimate is Gross margin in the second quarter of 2020 decreased to 35.5% from 41.7% in the same period of 2019. And then in terms of competitive landscape, again, Bigo Live has achieved potential upgrade growth in users and revenues.

Ladies and gentlemen, thank you for standing by, and welcome to the JOYY Inc.'s Second Quarter 2020 Earnings Call. Please go ahead. Despite the uncertain and challenging macro environment during the second quarter, we grew our net revenues by 36.3% year-over-year to RMB5.84 billion, in particular, Bigo's live streaming revenues grew by 158.8% year-over-year to RMB2.95 billion, contributing more than half of the group's total live streaming revenues for the first time ever. Diluted net income from continuing operations per ADS in the second quarter of 2020 was RMB7.39 compared to diluted net loss from continuing operations per ADS RMB0.28 in the same period of 2019. JOYY INC. : Trading strategies, financial analysis, commentaries and investment guidance for JOYY INC. Stock | Nasdaq: YY | Nasdaq
We believe that we will be able to generate recurring revenue from live streaming, advertising and e-commerce as our global user base grows. From live streaming, short form video, social network, e-commerce, education and Internet finance. Net margin was 10.6% in the second quarter of 2020, compared to negative 0.1% in the corresponding period of 2019, mainly due to the income from fair value change in investment. I was just wondering whether the management can share some color on the monetization level driver of Bigo Live in the next few years. Thank you, Lei. Cumulative Growth of a $10,000 Investment in Stock Advisor, JOYY Inc (YY) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $YY, YY Inc (YY) Q4 2019 Earnings Call Transcript, YY Inc (YY) Q2 2019 Earnings Call Transcript, YY Inc (YY) Q1 2019 Earnings Call Transcript, Copyright, Trademark and Patent Information. Our total net revenues for the second quarter increased by 36.3% year-over-year to RMB5.84 billion, exceeding both the high end of our previous guidance range and Street consensus. We truly believe all those kind of AI technologies and expertise actually can be reused into the e-commerce arena, which will also create a very unique competitive edge compared with other e-commerce companies.

Looking forward to the third quarter of 2020, we expect our net revenues to be between RMB5.85 billion and RMB6 billion, excluding the revenue contribution from Huya in the same period of last year, representing a year-over-year increase between 26.7% to 29.9%. In terms of M&As, we don't foresee that we will do big scale M&A thus far.

And the second one is on the margin outlook.

And my second question is related to the post-COVID situation, any user metrics you can share after the lock down is over? Announces Transfer of Shares of HUYA Inc. to Tencent Read All. In terms of our expansion strategy for Bigo, as I've laid out, we'll remain very focused for globalization and we want to diversify our original exposure to compensation some of the geopolitical risks. Please go ahead. Please go ahead. Secondly, wondering what's your plan for the remaining shares you have for Huya. I have two questions. JOYY Inc. (NASDAQ:YY) saw a significant growth in short interest in September. So, all in all, we understand the e-commerce business and we actually had a very strong patience to continue to develop our e-commerce business in the next three to five years. We still want to organically grow our business on a global scale. It features a virtual currency which users earn through activities such as karaoke or creating tutorial videos and which is later converted to real cash. And so that's why typically you see the ARPU, the paying amount per paying user in Bigo Live is much higher in China. Find the latest Earnings Report Date for JOYY Inc. American Depositary Shares (YY) at Nasdaq.com. Thank you, Daniel. Our next question comes from Lei Zhang from Bank of America Merrill Lynch. Let me address the questions.

Based on an average daily volume of 841,700 shares, the short-interest ratio is presently 4.3 days.

ET. JOYY aims at two core strategies, “Globalization” and “Artificial Intelligence”. © Copyright 2020 Morningstar, Inc. All rights reserved. Please go ahead. Thank you, Thomas. So, this quarter Bigo live streaming grow by close to 50%. JOYY Inc. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Non-GAAP net margin increased to 8.5% in the second quarter of 2020 from 8.3% in the same period of 2019. Thank you very much. HAGO's MAUs also remained relatively stable at 31.7 million.

First, regarding the progress of the monetization of Likee, as we explained to investors before, we are foreseeing 10% of Bigo coming from Likee this year.

It has over 300 million users. JOYY Inc is a social media platform. And for -- in terms of the development of the e-commerce business, we actually had a long-term commitment in terms of further develop of e-commerce.

Our long-term business plan remains intact. The thirdly, JOYY, we are a company which is driven by the AI technology and AI innovation through of our development in the short-form video arena, and we actually have been accumulated a massive capability in terms of -- which is related to the AI technology, for example, like voice recognition, face recognition, as well as the object recognition et cetera. In light of the rapidly changing market dynamics due to the COVID-19 and recent geopolitical uncertainties, we have been actively reviewing our global dual-engine growth strategy. It was listed on the NASDAQ on November 21, 2012. Our non-GAAP operating income for the second quarter, which excludes share-based compensation expenses, amortization of intangible assets from business acquisitions, as well as impairment of goodwill and investments, and gain on disposal of subsidiaries and business, increased by 24.6% to RMB509.3 million from RMB408.7 million in the same period of 2019. JOYY has created an online community for global video and live streaming users. Bandwidth costs increased to RMB280.7 million from RMB228.1 million in the same period of 2019 as the overseas user base and time spent continued to expand following the consolidation of Bigo. We will -- after the sale of the shares, we still have around 16% of the shares in Huya.

The Company’s highly engaged users contribute to a vibrant social community by creating, sharing, and enjoying a vast range of entertainment content and activities. The name change has no effect on the Company’s ticker symbol. Yeah. Matthew Zhao -- General Manager of Investor Relations. When autocomplete results are available use up and down arrows to review and enter to select. In addition, as we advanced each of our businesses and full value, we are always looking for ways to increase returns to our shareholders.
Our non-GAAP operating margin for the second quarter was 8.7% compared to 9.5% in the same period of 2019. Thank you management and congrats on a very strong quarter. In the second half the Bigo as -- in total for the segment will be breakeven, thanks to the tremendous revenue growth and operating leverage across many segments. and Personal Securities Trading Policy in carrying out his responsibilities. Thank, Alex. Thank you, operator. As a result, over 50% of Bigo Live's users accessed BAR during the second quarter. In addition, JOYY Inc. (formerly known as YY Inc.) completed the acquisition of Bigo in March 2019. fair value, and uncertainty rating. And that's why we -- in order to maximize shareholder value, we have announced the three-year regular dividend payout as a way to return some of those value to shareholders. ET. Thank you, Alex.

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