Financial Data and Key Metrics Changes - In Q3 2024, total net revenues were 558.7million,adecreasefrom567.1 million in the same period last year [28] - BIGO segment revenues were 496million,showingaslightyear−over−yearincrease[28]−Groupnon−GAAPoperatingprofitwas34.9 million, up 16.4% quarter-over-quarter [6][33] - GAAP net income attributable to controlling interest was 60.6million,downfrom72.9 million in the same period of 2023 [33] - Group's non-GAAP net income margin was 10.9%, compared to 14.3% in the same period of 2023 [36] Business Line Data and Key Metrics Changes - BIGO's non-livestreaming revenue grew 15.5% quarter-over-quarter to 78.2million,primarilydrivenbyadvertising[14]−Likee′sadvertisingrevenueincreased33.4117.8 million worth of shares in Q3, totaling 243.7millionforthefirstthreequartersof2024[37]−Thebalancesheetremainshealthywithastrongnetcashpositionof3.3 billion as of September 30, 2024 [36] Q&A Session Summary Question: 2025 outlook on user and revenue trends - Management noted that BIGO's non-livestreaming revenue continued to grow, while live streaming revenue experienced a decline due to content cost optimization and adjustments to non-core products [44][45] - They expect BIGO's paying users to return to growth in 2025, with non-livestreaming revenue maintaining double-digit growth [48][49] Question: General monetization trends across key regions in FY 2025 - Developed countries are expected to continue providing growth momentum, with a focus on high monetization potential regions [62] Question: Progress in capital return and share repurchase program - The company has been active in shareholder return initiatives, repurchasing 12% of total shares outstanding as of the end of last year [68] Question: Outlook for advertising and new initiatives into 2025 - BIGO's advertising revenue showed robust growth, with Likee's advertising revenue growing significantly [72] - Future growth will depend on expanding DAU and refining operations to increase market share [75]
