Huanju announced results for the fourth quarter of 2023.
The Zhitong Finance App learned that YY.US (YY.US) announced results for the fourth quarter of 2023. According to financial reports, Huanju's Q4 net revenue was US$569.8 million, down 5.8% from US$604.9 million in the same period last year, and US$5.3 million higher than market expectations. Net profit was US$40.89 million, with a net loss of US$390.1 million for the same period last year. Adjusted earnings per ADS were $1.01, compared to $0.65 for the same period last year, which was $0.37 higher than market expectations.
Q4. The core product Bigo Live monthly active users (MAUs) was 38.4 million, up 4.5% from 36.8 million in the same period last year; the Bigo segment paid users reached 1.67 million, an increase of 7.9%; the average revenue per paying user (ARPPU) was 244.8 US dollars, compared to 251.3 US dollars in the same period last year. Furthermore, the average monthly active users of Hago mobile were 4.6 million, compared to 6.7 million in the same period last year. The main reason was the reduction in spending to acquire users through advertisements.
Looking ahead, the company expects net revenue for the first quarter of 2024 to be between $543 million and $560 million.