On the evening of May 13th (morning of May 13th Eastern Time), Huya Company released its first quarter financial report for 2024. According to the financial report, in the first quarter of 2024, Huya Company's total revenue was 1.5 billion yuan; Under non US GAAP, the net profit attributable to Huya Company for the quarter was 92.5 million yuan. In terms of user data, in the first quarter of 2024, Huya Live's mobile MAU (monthly active users) increased year-on-year to 82.6 million.
Huang Junhong, Co CEO and Senior Vice President of Huya Company, stated that in the constantly changing industry environment in the first quarter of 2024, we have driven comprehensive progress of the company through strong strategic execution. In this quarter, we upgraded our products for Huya Live and held a series of innovative cross platform esports competitions and operational activities, further enhancing the content and brand influence of the Huya platform. Therefore, the MAU of Huya Live Mobile increased slightly year-on-year to 82.6 million.
Wu Xin, Co CEO and Vice President of Finance of Huya Company, said, "Huya Company's total revenue in the first quarter was about 1.5 billion yuan, with revenue from gaming related services, advertising, and other businesses accounting for 16.2% of the total revenue, higher than 5.2% in the same period last year. Due to the increased contribution of businesses with higher gross profit margins to overall revenue and our continuous efforts in cost optimization, the gross profit margin in the first quarter increased to 14.7%. With further improvement in operational efficiency, the company's total operating expenses decreased by 17.8% year-on-year."