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

According to CTOnews.com news on November 14, Huya announced today that total net income for the third quarter of 2023 was 1.648 billion yuan ($225.8 million), compared with 2.379 billion yuan for the same period in 2022.

Net income attributable to Huya was 12.1 million yuan ($1.7 million) in the third quarter of 2023, compared with 60.4 million yuan in the same period in 2022.

Non-GAAP net income attributable to the company was 103.3 million yuan ($14.2 million) in the third quarter of 2023, compared with 106.1 million yuan in the same period in 2022.

Huya TV's average number of monthly mobile active users was unchanged at 86 million in the third quarter of 2023, compared with 86 million in the same period in 2022.

Wu Xin, Co-CEO and Vice President of Tiger Agency, said: "against the background of a weak industry environment and our active business adjustment, our total net income in the third quarter of 2023 was about RMB 1.6 billion. In the third quarter, our gross profit margin was 13.9%, and our total operating expenses decreased by 20.7% compared with the same period last year, reflecting our continuous operational optimization efforts. In addition, in mid-August 2023, we announced that we authorized a share buyback program of up to $100 million over a 12-month period, with $9 million of stock repurchased by the end of the third quarter. Looking ahead, we remain committed to further improving our financial fundamentals while increasing shareholder value. "

CTOnews.com learned from the financial report that live broadcast revenue was 1.5317 billion yuan ($209.9 million) in the third quarter of 2023, compared with 2.0171 billion yuan in the same period in 2022, mainly due to a decrease in the number of quarterly paying users in Tiger teeth, which decreased from 5.5 million in the same period in 2022 to 4.2 million in the third quarter of 2023.

Advertising and other revenue in the third quarter of 2023 was 116.1 million yuan ($15.9 million), compared with 361.4 million yuan in the same period in 2022, mainly due to a sharp decline in content licensing revenue.

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