Huya Inc ( (HUYA) ) has released its Q3 earnings. Here is a breakdown of the information Huya Inc presented to its investors.
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HUYA Inc. is a prominent game live streaming platform in China, offering a dynamic ecosystem for game enthusiasts and collaborating with game companies and e-sports organizers. In its third-quarter 2024 financial results, HUYA Inc. reported total net revenues of RMB1,537.7 million, indicating a decrease from the previous year. However, game-related services, advertising, and other revenues saw significant growth, contributing 26.7% to the total net revenues. The company’s net income attributable to HUYA Inc. increased to RMB23.6 million from RMB10.5 million in the same quarter of 2023, reflecting a positive trend in profitability.
Key financial metrics highlighted a robust performance in game-related services with a 209.3% year-over-year growth, showcasing HUYA’s successful partnerships with game studios. Despite a decline in live streaming revenues attributed to macroeconomic challenges, the company managed to reduce operating expenses by 20.9% year-over-year, demonstrating efficiency improvements. The average mobile MAUs slightly decreased to 84.0 million, while the number of paying users increased by 9.5% to 4.6 million.
HUYA’s strategic initiatives included a significant share repurchase program, with US$61.1 million worth of ADSs repurchased by September 2024. The company also distributed special cash dividends amounting to approximately US$400 million, reflecting its commitment to shareholder returns. These efforts, alongside the ongoing development of partnerships and in-house content, position HUYA for sustained growth in the game live streaming and related services sectors.
Looking ahead, HUYA Inc. aims to leverage its strategic transformations and partnerships to drive long-term business development. The company remains focused on enhancing its operational performance and creating value for shareholders, while navigating the challenges of the current economic landscape.
