On the evening of November 14, 2023 Beijing time (morning of November 14, 2023 Eastern time), Huya Company (NYSE: HUYA) released its third quarter financial report for 2023. According to the financial report, the total revenue of Huya Company in the third quarter of 2023 was 1.65 billion yuan; Under non US GAAP, the net profit attributable to Huya Company for the quarter was 103 million yuan. In terms of user data, in the third quarter of 2023, the mobile MAU (monthly average active users) of Huya Live increased by 3.7% month on month to 86 million.
Achieve profitability in the third quarter and steadily promote strategic transformation
Huang Junhong, Acting Co CEO and Senior Vice President of Huya Company, stated: Benefiting from the diverse summer esports and entertainment programs, in the third quarter of 2023, Huya's live streaming mobile MAU reached 86 million, an increase of 3.7% month on month. While continuously enriching the content ecosystem and consolidating the user base, we are also promoting strategic transformation, shifting Huya's commercialization focus to more game related services. This quarter, we mainly focused on promoting partnerships with game studios and building support for these new initiatives The business infrastructure required for type 1 services. Through strong strategic execution, we are confident in further expanding Huya's influence in the gaming industry and promoting more balanced and long-term sustainable business development
Wu Xin, Acting Co CEO and Vice President of Finance of Huya Company, stated: Affected by industry environmental factors and the company's proactive business adjustments, Huya's total revenue in the third quarter of 2023 was approximately 1.65 billion yuan. According to US GAAP, the company achieved a gross profit margin of 13.9% in the quarter and a year-on-year decrease of 20.7% in total operating expenses, reflecting Huya's effectiveness in continuously optimizing operations. In addition, in mid August of this year, Huya announced a repurchase of up to $100 million worth of shares in the next 12 months Plan for tickets. As of the end of the third quarter, we have repurchased $9 million worth of Tiger Tooth stocks. Looking ahead, Huya Company will be committed to further consolidating its financial foundation and enhancing shareholder value
According to the financial report, the total revenue of Huya Company in the third quarter of 2023 was 1.648 billion yuan (226 million US dollars). Under non US GAAP, excluding non recurring gains and losses such as equity incentive expenses and investment impairment losses, the net profit attributable to Huya Company is 103 million yuan ($14.2 million).
In terms of revenue composition, in the third quarter of 2023, Huya Company's revenue from live streaming was 1.532 billion yuan ($210 million), and its revenue from advertising and other businesses was 116 million yuan ($15.9 million).
According to US GAAP, in the third quarter of 2023, Huya Company's gross profit was 228 million yuan ($31.3 million), with a gross profit margin of 13.9%, and the net profit attributable to Huya Company was 12.1 million yuan ($1.7 million).
As of September 30, 2023, Huya Company has cash, cash equivalents, short-term deposits, and long-term deposits totaling 10.601 billion yuan (1.453 billion US dollars). (CIS)