Huya's Q1 2023 financial report: total revenue of 1.95 billion yuan, with mobile MAU reaching 82.1 million yuan

On May 16th, Hu Ya Company (NYSE: HUYA) announced its first quarter financial report for 2023. According to the financial report, the total revenue of Huya Company in the first quarter was 1

On May 16th, Hu Ya Company (NYSE: HUYA) announced its first quarter financial report for 2023. According to the financial report, the total revenue of Huya Company in the first quarter was 1.95 billion yuan.

According to US GAAP, in the first quarter of 2023, Huya Company's gross profit was 256 million yuan ($37.3 million), and the net profit attributable to Huya Company was 44.8 million yuan ($6.5 million). Under non US GAAP, the net profit attributable to Huya Company for the quarter was 85.5 million yuan.

In terms of user data, in the first quarter of 2023, the average monthly active users of Huya Live Mobile MAU increased to 82.1 million year-on-year.

Dong Rongjie, CEO of Huya Company, stated: Although the first quarter of each year is usually the off-season for live streaming activities, and there has been an increase in offline entertainment activities for users in the first quarter of this year, the MAU of Huya Live Mobile has still slightly increased year-on-year in that quarter, reaching 82.1 million. Huya Company, with its attractive esports and entertainment content, continuously optimizes its products to enhance interactive functions, and maintains a stable level of user participation. We closely monitor the changes in the dynamic market environment And strive to quickly and flexibly improve content and operational strategies to better meet user needs. With the recent approval of more games, we plan to promote diversified operational activities and deepen cooperation with game manufacturers to seize the opportunities brought by the release of new games, thereby further consolidating Huya's position in the game live streaming market and enhancing its influence in the game value chain

Wu Xin, Vice President of Finance at Huya Company, stated: Affected by macro environment and seasonal factors, the total revenue of Huya Company in the first quarter of 2023 was approximately 1.95 billion yuan. As we strengthen our cost optimization efforts, especially in terms of content costs, the gross profit margin in the first quarter has rebounded to a level close to the same period last year. At the same time, we continue to improve operational efficiency, and the total operating expenses for the quarter decreased by 26.2% year-on-year. Therefore, under the US general accounting standards, this quarter The quarterly net profit was 44.8 million yuan. Looking ahead, we will strive to maintain the current progress and further promote cost optimization and efficiency improvement, consolidating the financial foundation for the company's long-term development

In terms of revenue composition, in the first quarter of 2023, Huya Company's revenue from live streaming was 1.86 billion yuan ($271 million), and its revenue from advertising and other businesses was 89.3 million yuan ($13 million).

As of March 31, 2023, Huya Company has cash, cash equivalents, short-term deposits, short-term investments, and long-term deposits totaling 10.348 billion yuan (1.507 billion US dollars). (One Orange)