GLOBE NEWSWIRE - Nov 18 - Joyy is a global video-based social media platform and the parent company of YY LIVE, BIGO LIVE, Likee, HAGO and YY dating. Q3 net revenue is $926M, up 36% YOY. Net income is $339M, compared to $9.4M in Q3 2019, primarily due to the impact of gain from partial disposal of investments in Huya, a game live streaming platform. Global average mobile MAUs decreased by 4% to 390M, mainly due to the impact of Indian government's measures to block certain Chinese-owned apps, which included Bigo Live, Likee and Hago. Total number of paying users of YY decreased by 4.7% YOY to 4M, mainly due to COVID-19. Mr. David Xueling Li, Chairman and CEO of JOYY, commented, "Despite the negative impact from India blocking certain Chinese-owned apps, our global MAU remained relatively stable, thanks to rapid expansion of our business in other regions, including Europe and East Pacific." Mr. Li continued, "We believe Baidu's strategic acquisition of YY Live is a win-win for both parties, as it will accelerate YY Live's business growth and unlock more value across the domestic entertainment live streaming sector." Baidu said on Monday it is acquiring live-streaming service YY Live for $3.6B in an all-cash deal as the Chinese Internet giant makes a further push to diversify beyond its core search business and play catch-up in video entertainment.