My first question is about the second half outlook for Bigo, in particular, how we should think about the business trend in developed and emerging market in the second half? And second question is on whether -- on the e-commerce business, I was wondering whether the management can share more color on that. 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.
Morningstar Quantitative ratings for equities (denoted on this page by) are generated using an algorithm that compares companies that are not under analyst coverage to Gross margin in the second quarter of 2020 decreased to 35.5% from 41.7% in the same period of 2019. The entry barrier for live streaming is much lower. We expect that growth momentum to continue. JOYY Inc is a social media platform. 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. For the Likee business, as you can see, Likee's MAU has reached 150 million in the second quarter, given all the geopolitical risk, we have adopt various strategy in different markets.
Accordingly, we will be distributing a dividend of $0.31 per ADS in the second quarter of 2020. We believe that video has become the mainstream medium for disseminating information over the Internet. View All.
It was listed on the NASDAQ on November 21, 2012. Thank you. The company offers Live streaming platforms, Short-form video platforms, and other products. Joyy develops and deliver a … Before we jump into details about the business development in order to provide everyone with a better picture of our quarterly performance, I would like to remind you that starting from this quarter we have deconsolidated Huya's financial results and listed them as discontinued operations. JOYY Inc. © 2020 GlobeNewswire, Inc. All Rights Reserved. Right now, judging from the recent performance and taking into account of the labor situation across the world, we think Bigo can generate somewhere close to 100% revenue growth on a year-on-year basis for 2020 and that obviously is driven by the increased expansion to developed market and also the existing market as well. Non-GAAP diluted net income from continuing operations per ADS increased by 27.2% to RMB5.57 from RMB4.38 in the same period of 2019.
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.
Bigo Live's mobile MAUs increased by 41.3% year-over-year and 10% quarter-over-quarter to 29.4 million with paying user base also grew as a result of our efforts in cultivating users' paying habits on the platform. As a result, Likee's total MAUs surged by 86.2% year-over-year and 14.2% quarter-over-quarter to 150.3 million in the period. JOYY Inc’s share price is determined by its bid-ask spread, which is the difference between the price that buyers are willing to pay and the price that sellers are willing to accept.JOYY Inc’s price can fluctuate throughout the course of each trading day—when you buy JOYY Inc through Stash, we execute the market order during our next available trading window (we have two a day). JOYY Inc (NASDAQ:YY)Q2 2020 Earnings CallAug 13, 2020, 9:00 p.m. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. And that's why we are confident even after COVID-19 we will be able to drive the user base and monetization in the areas that we are not impacted by the regulations. What is the -- what are the major growth countries in such a strong growth?
Please go ahead. Besides the online charity concert, we also joined hands with live streaming hosts around the world to launch a series of online activities to bring comfort and joy to our users in need. For the gross margin, Chen, I think that will be relatively stable for Bigo overseas because the main cost of goods items are revenue sharing which we foresee to be stable.
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. Let me address the first one and Xueling will address the second. Thank you, Daniel. Please go ahead.
JOYY Inc. (NASDAQ:YY) Q2 2020 Earnings Conference Call August 12, 2020 9:00 PM ET Company Participants. We are also convinced that for the coming generations of Internet users, video will become the dominant format for social networking, content production and content resumption. For example, through Bigo Live, our global live streaming platform, we plan to expand to more regions and further reduce reliance on any single market. So, we will raise up our full year guidance for Bigo's total revenue, which previously we communicated to the market is around 65%, 70% year-on-year growth. In terms of business expansion, we will continue to focus our efforts for live streaming and short-form video user acquisition. See you at the top! So, we will observe the future consolidation plan under Tencent regards Huya and Douyu, and we will benefit from any potential synergies coming out of those transactions. JOYY Inc. (NASDAQ:YY) saw a significant growth in short interest in September. In summary, we firmly upheld our dual-engine growth strategy during the quarter.
Now, as JOYY's CFO, I will talk about the financial results.
But right now because we raised the revenue forecast for Bigo as a total. BAR enables users to -- and hosts to share updates with one another in a increasingly frictionless manner. 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. That's all the time we have for questions today. GUANGZHOU, China, Dec. 24, 2019 (GLOBE NEWSWIRE) -- JOYY Inc. (Nasdaq: YY) (“JOYY” or the “Company”), a global social media platform, today announced that it has changed its name from “YY Inc.” to “JOYY Inc.,” effective December 20, 2019. Thank you, operator. And we remain very focused on driving our revenue from the four key markets that Bigo Live operates, as we explained before that includes Southeast Asia market and the Middle East, include North America and Western Europe and will remain very committed for the diversified regional exposure. 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. Its products include YY Live, Bigo Live, Huya, Likee, imo, and Hago. Investor Relations ContactJOYY Inc.Matthew ZhaoTel: +86 (20) 8212-0000Email: IR@YY.com, ICR, Inc.Jack WangTel: +1 (646) 915-1611Email: IR@YY.com. Lei Zhang -- Bank of America Merrill Lynch -- Analyst. Thank you. Let me address the questions. Thank you, operator. There are several reasons for that. I will hand back to management for their closing remarks. David Xueling Li -- Chairman and Chief Executive Officer.
Today, there are over 7,000 employees in JOYY Group, and 65% of them are engineers. This site is protected by reCAPTCHA and the Google
I will now turn the call over to our Chairman and CEO, Mr. David Xueling Li. employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.'s Code of Ethics Let me answer your question in terms of the strategy about e-commerce. So, apart from that, how would you consider cash usage or somewhere you consider ramp up the user acquisition in short video or where you consider to develop new product [Indecipherable].
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