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HUYA Inc (NYSE:HUYA) reported Q3 2023 revenue of $225.8 million, beating the consensus of $210.33 million.
The Chinese game live-streaming platform's adjusted EPS of $0.06 was better than the consensus loss of $(0.03).
Live streaming revenues declined 24.1% Y/Y due to fewer paying users on Huya Live. Also, advertising and other revenues were down 67.9% Y/Y on a considerable decline in content sub-licensing revenues.
The average mobile MAUs of Huya Live was flat Y/Y at 86 million in Q3.
The total number of paying users of Huya Live was 4.2 million in Q3, down from 5.5 million a year ago.
The gross margin was 13.9%, a contraction from 14.4% a year ago primarily due to lower total net revenues.
HUYA held $1.5 billion in cash and equivalents at the end of the quarter.
Mr. Junhong Huang, Acting Co-CEO, commented, "Our Huya Live's average mobile MAUs reached 86.0 million in the third quarter of 2023, growing by 3.7% quarter-over-quarter thanks to our diversified e-sports tournaments and entertainment programming during the summer season."
The Q4 consensus revenue and EPS are $208.4 million and $(0.12).
Price Action: HUYA shares are trading higher by 0.73% at $3.45 on the last check Tuesday.
Posted In: HUYA
