Why Joyy Stock Thrashed the Market on Thursday

Joyy (NASDAQ: JOYY) is a stock that certainly lived up to its name for investors on Thursday. The Asian social media company's American Depositary Shares (ADSes) rose by 6% in price that trading session, thanks to a pair of beats in its just-reported third quarter. Better-than-expected guidance helped too. Joyy, which reports in U.S. dollars despite being headquartered in Singapore, published those results early Thursday morning. The company's net revenue was $540 million, down from $559 million in the same period a year ago. Yet it was high enough to top the consensus analyst estimate of $531 million and change.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool