Zhitong Finance learned that HUYA.US (HUYA.US) announced financial results for the first quarter of 2024. According to financial reports, total revenue for Q1 was 1.5 billion yuan, better than market expectations; under non-GAAP (non-GAAP), net profit attributable to Huya for the quarter was 92.5 million yuan. In terms of user data, in the first quarter of 2024, the mobile MAU (average number of monthly active users) of Huya Live increased year-on-year to 82.6 million. Non-GAAP earnings per ADS of $0.05 were better than market expectations.

Financial reports show that in the first quarter of 2024, Huya's total revenue was 1,504 billion yuan (208 million US dollars). Under non-US GAAP, net profit attributable to Huya was 92.5 million yuan (12.8 million US dollars) after excluding non-recurring gains and losses such as equity incentive expenses and amortization of intangible assets resulting from business acquisitions.

In terms of revenue composition, in the first quarter of 2024, Huya's revenue from live streaming was 1,260 million yuan (US$175 million), and revenue from game-related services, advertising and other businesses was 244 million yuan (US$33.7 million).

According to US GAAP, in the first quarter of 2024, Huya's gross profit was 221 million yuan (30.5 million US dollars), and gross margin increased to 14.7% from 13.7% in the same period last year. Net profit attributable to Huya Company was 71 million yuan (9.8 million US dollars), an increase of 79.3% over the same period last year.

As of March 31, 2024, Huya had cash, cash equivalents, short-term deposits, short-term investments and long-term deposits totaling 9.420 billion yuan (US$1,305 billion).

As of press release, Huya's stock price was up 2% in the premarket.