Joyy Inc., a Singapore-based technology company listed on NASDAQ as $JOYY, reported its unaudited financial results for the first quarter of 2025. The company saw a 25.3% year-over-year increase in non-live streaming revenues, reaching $494.4 million. However, its overall revenues fell 12% to over $494 million. Joyy’s non-GAAP profit rose 25% to $31 million compared to the same period last year. Meanwhile, Chinese short-video platform Kuaishou Technology reported a 10.9% increase in first-quarter revenue to CNY 32.6 billion ($4.5 billion) and a 4% rise in adjusted net profit to CNY 4.5 billion ($636 million). The company’s average daily active users grew 3.6% to a record 408 million. Revenue from Kuaishou’s AI tool, Kling, exceeded CNY 150 million ($20 million) during the quarter. Despite beating revenue and adjusted net income expectations, Kuaishou missed on adjusted earnings per share. The company indicated plans to increase spending on AI development to address concerns over the monetization of its AI tools.