Shulou(Shulou.com)11/24 Report--

CTOnews.com November 15 news, Huya TV today announced the third quarter of 2022 financial results as of September 30.

Huya's total net revenue in the third quarter was 2.3785 billion yuan ($334.4 million), compared with 2.9755 billion yuan in the same period in 2021, according to the financial report. The net profit attributed to Huya was 60.4 million yuan ($8.5 million), compared with 524.4 million yuan in the same period in 2021. Under non-Non-GAAP, the net profit attributable to Huya was 106.1 million yuan ($14.9 million), compared with 180 million yuan in the same period in 2021.

Huya TV's average mobile MAU (monthly active users) was 86 million in the third quarter of 2022, compared with 85.1 million in the same period in 2021. Huya TV had 5.5 million paying users in the third quarter of 2022, compared with 6 million in the same period in 2021.

CTOnews.com learned that Huya TV announced that live broadcast revenue was 2.0171 billion yuan ($283.6 million) in the third quarter of 2022 and 2.6019 billion yuan in the same period in 2021, mainly due to the recent macro and regulatory environment that adversely affected the mood of the company's paying users, resulting in a decrease in the number of paying users and a decline in Huya TV's average expenditure per paying user.

Advertising and other revenue in the third quarter of 2022 was 361.4 million yuan ($50.8 million), compared with 373.7 million yuan in the same period in 2021, mainly due to weak demand for advertising services due to the challenging macro environment. Content licensing revenue made a relatively significant contribution to advertising and other revenue in the third quarter of 2022, mainly because the sub-franchise revenue of e-sports broadcasting rights was recognized based on the event schedule and experience fluctuations between periods.

The revenue cost in the third quarter of 2022 was 2.0362 billion yuan ($286.2 million), down 17.6 percent from 2.4715 billion yuan in the same period in 2021, mainly due to lower revenue sharing fees and content costs as well as bandwidth costs.

Revenue-sharing fees and content costs fell 15.7% to 1.7898 billion yuan ($51.6 billion) in the third quarter of 2022 from 2.1236 billion yuan in the same period in 2021, mainly due to a reduction in revenue-sharing fees resulting from a decline in live streaming revenue. and lower costs associated with content creators.

Bandwidth costs fell by 35.4% from 178 million yuan in the same period in 2021 to 115 million yuan ($16.2 million) in the third quarter of 2022, mainly due to improvements in bandwidth cost management and technological improvements. and the company's overseas business focus on key markets has led to a reduction in overseas bandwidth use.

Gross profit in the third quarter of 2022 was 342.4 million yuan ($48.1 million), compared with 504 million yuan in the same period in 2021, mainly due to a decline in income. The gross profit margin in the third quarter of 2022 was 14.4% and 16.9% in the same period in 2021.

Research and development costs fell 16.7 per cent from 206.2 million yuan in the same period in 2021 to 171.8 million yuan ($24.1 million) in the third quarter of 2022, mainly due to reductions in personnel-related costs and share compensation costs.

Sales and marketing expenses fell by 45.8% from 229.4 million yuan in the same period in 2021 to 124.3 million yuan ($17.5 million) in the third quarter of 2022, mainly due to a reduction in marketing and promotion expenses and personnel-related expenses.

Management fees fell 1.8 per cent to 78.7 million yuan ($11.1 million) in the third quarter of 2022 from 80.1 million yuan in the same period in 2021.

Other income was 43.9 million yuan ($6.2 million) in the third quarter of 2022, compared with 94.8 million yuan in the same period in 2021, mainly due to reduced tax rebates and government subsidies.

Operating income was 11.6 million yuan ($1.6 million) in the third quarter of 2022, compared with 83.1 million yuan in the same period in 2021.

Interest and short-term investment income in the third quarter of 2022 were 71.7 million yuan ($10.1 million), compared with 62.6 million yuan in the same period in 2021.

Income tax expenses for the third quarter of 2022 were 19.6 million yuan ($800000), compared with 40.6 million yuan for the same period in 2021, mainly due to a decrease in taxable income.

The share of equity investment income (excluding income tax) was RMB 50,000 in the third quarter of 2022 and RMB 378.7 million in the same period in 2021, mainly due to investment income related to the sale of equity investments in the third quarter of 2021.

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