The financial report shows that Huya's third-quarter revenue reached 1.54 billion yuan, a decrease of 0.76% year-on-year.
According to the 36kr Finance and Economics App, Huya (HUYA.US) released the third-quarter 2024 financial report before the U.S. stock market open on November 12. The report shows that Huya's third-quarter revenue reached 1.54 billion yuan (RMB), a decrease of 0.76% year-on-year. Among them, revenue from gaming-related services, advertising, and other businesses increased by 209.3% year-on-year to 0.41 billion yuan.
In the third quarter, live streaming revenue was 1.1275 billion yuan, compared to 1.5317 billion yuan in the same period of 2023, mainly due to the continued impact of the macroeconomic and industry environment, as well as proactive business adjustments taken by the company to support strategic transformation and prudent operation.
Under non-U.S. GAAP, the net income attributable to Huya for the quarter was 78 million yuan, compared to 0.1067 billion yuan in the same period last year; diluted earnings per ADS were 0.34 yuan, compared to 0.44 yuan in the same period last year.
In the third quarter of 2024, Huya's mobile MAU (Monthly Active Users) reached 84 million, compared to 86 million in the same period of 2023, with a year-on-year growth of 9.5% to 4.6 million paying users.
As of September 30, 2024, the company had cash and cash equivalents, short-term deposits, short-term investments, and long-term deposits totaling 8.0784 billion yuan.
Huya's Co-CEO and CFO, Peng Lei, stated: "In the third quarter, Huya's total revenue was 1.54 billion yuan. Live streaming revenue continued to be influenced by macro and industry environments; at the same time, to support strategic transformation, the company proactively adjusted the business structure, with gaming-related services, advertising, and other revenue showing positive growth trends, making a more meaningful contribution to overall revenue. By improving efficiency, total operating expenses decreased by 20.9% year-on-year, and operational performance remained stable. In terms of shareholder returns, as of the end of September 2024, we repurchased 61.1 million dollars' worth of Huya shares through the share buyback plan. This year, Huya also returned approximately 0.4 billion dollars to shareholders through two rounds of special cash dividends. Huya will strive to strengthen financial and operational performance, creating greater value for shareholders."