HUYA Inc. Reports Second Quarter 2022 Unaudited Financial Results

Rhea-AI Summary

HUYA Inc. reported a challenging second quarter for 2022, with total net revenues of RMB2,275.2 million (US$339.7 million), down from RMB2,962.4 million in Q2 2021. The company experienced a net loss of RMB19.4 million (US$2.9 million) compared to a net income of RMB186.3 million in the same quarter last year. Average mobile MAUs increased 7.7% year-over-year to 83.6 million, but live streaming revenues dropped to RMB2,051.9 million due to decreased spending per user amidst macroeconomic pressures. The gross profit stood at RMB219.1 million with a gross margin of 9.6%.

Positive

• None.

Negative

• Total net revenues decreased to RMB2,275.2 million, down from RMB2,962.4 million in Q2 2021.
• Reported a net loss of RMB19.4 million, a stark contrast to RMB186.3 million net income in Q2 2021.
• Live streaming revenues fell to RMB2,051.9 million, primarily due to decreased average spending per user.
• Gross profit decreased to RMB219.1 million from RMB581.3 million year-over-year.
• Gross margin declined to 9.6% from 19.6% in the previous year.
• Net loss per ADS was RMB0.08, compared to net income per ADS of RMB0.77 in the prior year.

GUANGZHOU, China, Aug. 16, 2022 /PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2022.

Second Quarter 2022 Highlights

• Total net revenues for the second quarter of 2022 were RMB2,275.2 million (US$339.7 million), compared with RMB2,962.4 million for the same period of 2021.
• Net loss attributable to HUYA Inc. was RMB19.4 million (US$2.9 million) for the second quarter of 2022, compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of 2021.
• Non-GAAP net income attributable to HUYA Inc.^[1] was RMB5.9 million (US$0.9 million) for the second quarter of 2022, compared with RMB250.1 million for the same period of 2021.
• Average mobile MAUs^[2] of Huya Live for the second quarter of 2022 increased by 7.7% to 83.6 million from 77.6 million for the same period of 2021.
• Total number of paying users^[3] of Huya Live for the second quarter of 2022 was 5.6 million, compared with 5.6 million for the same period of 2021.

"Our steady focus on content enrichment and product upgrades continues to drive value for our users and pave the way for our sustainable, long-term growth. For the second quarter of 2022, Huya Live's mobile MAUs maintained solid momentum, growing 7.7% year-over-year to 83.6 million," said Mr. Rongjie Dong, Chief Executive Officer of Huya. "While the turbulence in the macro and regulatory environment has decelerated our monetization in the short term, we remain confident in the broad-based strength of our solid business foundation that underpins our ability to satisfy our users' core needs. As a leader in the game live streaming market in China, we are constantly iterating our technology and products to provide high-quality, compliant content for our users and amplify our value proposition with our stakeholders across the game industry value chain."

Ms. Ashley Xin Wu, Vice President of Finance of Huya, commented, "Against the backdrop of macro headwinds, our revenues were approximately RMB2.3 billion for the second quarter of 2022, and our gross profit came in at RMB219.1 million as we continued our strategic efforts in ramping up investment in new and relevant content. We believe we are well-positioned to drive continued momentum in our user community expansion. Despite external uncertainties, we remain diligent in improving our operational efficiency and optimizing our business expenses in a nimble way, delivering 17.0% quarter-over-quarter and 21.6% year-over-year deductions in total operating expenses. Going forward, we aim to further strengthen our monetization capabilities, improve our cost and expense structure, and solidify our business fundamentals to achieve sustainable business development over the long term."

[1] "Non-GAAP net income attributable to HUYA Inc." is defined as net (loss) income attributable to HUYA Inc. excluding (i) share-based compensation expenses, (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. For more information, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release.

[2] Refers to average monthly active users on mobile apps. Average mobile MAUs for any period is calculated by dividing (i) the sum of active users on the mobile apps for each month during such relevant period, by (ii) the number of months during such relevant period.

[3] Refers to the sum of user accounts that purchased various products and services on our platform at least once during such relevant period.

Second Quarter 2022 Financial Results

Total net revenues for the second quarter of 2022 were RMB2,275.2 million (US$339.7 million), compared with RMB2,962.4 million for the same period of 2021.

Live streaming revenues were RMB2,051.9 million (US$306.3 million) for the second quarter of 2022, compared with RMB2,579.2 million for the same period of 2021, primarily due to decreased average spending per paying user on Huya Live, as the recent macro and regulatory environment adversely affected the sentiment of the Company's paying users.

Advertising and other revenues were RMB223.3 million (US$33.3 million) for the second quarter of 2022, compared with RMB383.2 million for the same period of 2021, primarily due to the decrease in content sub-licensing revenues, as well as soft demand for advertising services resulting from the challenging macro environment.

Cost of revenues decreased by 13.6% to RMB2,056.1 million (US$307.0 million) for the second quarter of 2022 from RMB2,381.1 million for the same period of 2021, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs.

Revenue sharing fees and content costs decreased by 13.3% to RMB1,767.8 million (US$263.9 million) for the second quarter of 2022 from RMB2,039.2 million for the same period of 2021, primarily due to the decrease in revenue sharing fees associated with declined live streaming revenues.

Bandwidth costs decreased by 9.9% to RMB154.4 million (US$23.0 million) for the second quarter of 2022 from RMB171.4 million for the same period of 2021, primarily due to improved bandwidth cost management and continued technology enhancement efforts.

Gross profit was RMB219.1 million (US$32.7 million) for the second quarter of 2022, compared with RMB581.3 million for the same period of 2021, primarily due to lower revenues. Gross margin was 9.6% for the second quarter of 2022, compared with 19.6% for the same period of 2021.

Research and development expenses decreased by 19.0% to RMB168.4 million (US$25.1 million) for the second quarter of 2022 from RMB207.9 million for the same period of 2021, primarily due to the decrease in share-based compensation expenses.

Sales and marketing expenses decreased by 40.0% to RMB100.3 million (US$15.0 million) for the second quarter of 2022 from RMB167.0 million for the same period of 2021, primarily due to decreased marketing and promotion fees as well as personnel-related expenses.

General and administrative expenses increased by 13.5% to RMB81.8 million (US$12.2 million) for the second quarter of 2022 from RMB72.1 million for the same period of 2021, primarily due to the increase in professional service fees and personnel-related expenses.

Other income was RMB50.3 million (US$7.5 million) for the second quarter of 2022, compared with RMB47.6 million for the same period of 2021.

Operating loss was RMB81.1 million (US$12.1 million) for the second quarter of 2022, compared with operating income of RMB181.9 million for the same period of 2021.

Interest and short-term investments income were RMB65.6 million (US$9.8 million) for the second quarter of 2022, compared with RMB57.7 million for the same period of 2021.

Income tax expenses were RMB1.3 million (US$0.2 million) for the second quarter of 2022, compared with RMB58.3 million for the same period of 2021, primarily due to the lower taxable income.

Net loss attributable to HUYA Inc. was RMB19.4 million (US$2.9 million) for the second quarter of 2022, compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of 2021.

Non-GAAP net income attributable to HUYA Inc., which excludes share-based compensation expenses, was RMB5.9 million (US$0.9 million) for the second quarter of 2022, compared with RMB250.1 million for the same period of 2021, which excludes share-based compensation expenses, gains on fair value change of investments and equity investees' investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes.

Diluted net loss per American depositary share ("ADS") was RMB0.08 (US$0.01) for the second quarter of 2022, compared with diluted net income per ADS of RMB0.77 for the same period of 2021. Each ADS represents one Class A ordinary share of the Company.

Non-GAAP diluted net income per ADS was RMB0.02 (US$0.004) for the second quarter of 2022, compared with RMB1.04 for the same period of 2021.

As of June 30, 2022, the Company had cash and cash equivalents, short-term deposits and short-term investments of RMB10,716.7 million (US$1,600.0 million), compared with RMB10,473.4 million as of March 31, 2022.

Conference Call

The Company's management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on August 16, 2022 (7:00 p.m. Beijing/Hong Kong time on August 16, 2022).

For participants who wish to join the call, please complete online registration using the link provided below 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

Participant Online Registration: https://register.vevent.com/register/BIa451f7eabc6c4462aa4aa81302702803  

Once complete the registration, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the personal PIN as instructed to connect to the call.

A live webcast of the earnings call will be accessible at https://ir.huya.com and a replay of the webcast will be available following the session.

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China's young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya's open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that the consolidated statement of changes in shareholders' equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) attributable to HUYA Inc., non-GAAP net income (loss) attributable to ordinary shareholders, non-GAAP basic and diluted net income (loss) per ordinary shares, and non-GAAP basic and diluted net income (loss) per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is net income (loss) attributable to HUYA Inc. excluding share-based compensation expenses, gains on fair value change of investments and equity investee's investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. Non-GAAP net income (loss) attributable to ordinary shareholders is net income (loss) attributable to ordinary shareholders excluding share-based compensation expenses, gains on fair value change of investments and equity investee's investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. Non-GAAP basic and diluted net income (loss) per ADS is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income (loss) per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, and (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business, and (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "HUYA Inc. Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.6981 to US$1.00, the noon buying rate in effect on June 30, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Huya's strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Huya's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huya's goals and strategies; Huya's future business development, results of operations and financial condition; the expected growth of the game live streaming market; the expectation regarding the rate at which to gain active users, especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China; the impact of the COVID-19 to Huya's business operations and the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com 

The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com  

In the United States:

The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com

 

 

 

HUYA INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share data and per ADS data)
		As of December 31,		As of June 30,
		2021		2022		2022
		RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		1,790,784		2,068,235		308,779
Restricted cash		55,670		9,543		1,425
Short-term deposits		8,351,945		8,646,060		1,290,823
Short-term investments		816,331		2,442		365
Accounts receivable, net		88,034		57,397		8,569
Amounts due from related parties, net		148,560		161,490		24,110
Prepayments and other current assets, net		664,945		790,213		117,976
Total current assets		11,916,269		11,735,380		1,752,047
Non-current assets
Deferred tax assets		20,245		54,358		8,115
Investments		608,617		899,284		134,260
Property and equipment, net		79,611		129,101		19,274
Intangible assets, net		83,942		72,090		10,763
Right-of-use assets, net		395,371		380,032		56,737
Prepayments and other non-current assets		150,887		132,148		19,729
Total non-current assets		1,338,673		1,667,013		248,878
Total assets		13,254,942		13,402,393		2,000,925
Liabilities and shareholders' equity
Current liabilities
Accounts payable		12,579		37,164		5,548
Advances from customers and deferred revenue		459,509		431,952		64,489
Income taxes payable		5,944		28,258		4,219
Accrued liabilities and other current liabilities		1,845,452		1,569,763		234,360
Amounts due to related parties		216,128		166,010		24,785
Lease liabilities due within one year		36,473		39,806		5,943
Total current liabilities		2,576,085		2,272,953		339,344
Non-current liabilities
Lease liabilities		45,084		29,200		4,359
Deferred tax liabilities		4,597		20,533		3,065
Deferred revenue		118,975		93,564		13,969
Total non-current liabilities		168,656		143,297		21,393
Total liabilities		2,744,741		2,416,250		360,737

 

 

 

HUYA INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (All amounts in thousands, except share, ADS, per share data and per ADS data)
		As of December 31,		As of June 30,
		2021		2022		2022
		RMB		RMB		US$
Shareholders' equity
Class A ordinary shares (US$0.0001 par value;    750,000,000 shares authorized as of December    31, 2021 and June 30, 2022,respectively;    86,993,764 and 88,833,919 shares issued and    outstanding as of December 31, 2021 and June    30, 2022, respectively)		58		59		9
Class B ordinary shares (US$0.0001 par value;    200,000,000 shares authorized as of December    31, 2021 and June 30, 2022, respectively;    151,076,517 and 150,386,517 shares issued and    outstanding as of December 31, 2021 and June    30, 2022, respectively)		99		98		15
Additional paid-in capital		11,764,059		11,847,729		1,768,819
Statutory reserves		122,429		122,429		18,278
Accumulated deficit		(1,300,144)		(1,322,824)		(197,492)
Accumulated other comprehensive income		(76,300)		338,652		50,559
Total shareholders' equity		10,510,201		10,986,143		1,640,188
Total liabilities and shareholders' equity		13,254,942		13,402,393		2,000,925

 

 

 

HUYA INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  (All amounts in thousands, except share, ADS, per share data and per ADS data)
		Three Months Ended								Six Months Ended
		June 30, 2021		March 31, 2022		June 30, 2022		June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2022
		RMB		RMB		RMB		US$		RMB		RMB		US$
Net revenues
Live streaming		2,579,178		2,151,704		2,051,920		306,344		4,971,453		4,203,624		627,585
Advertising and others		383,197		312,847		223,254		33,331		595,706		536,101		80,038
Total net revenues		2,962,375		2,464,551		2,275,174		339,675		5,567,159		4,739,725		707,623
Cost of revenues(1)		(2,381,056)		(2,130,974)		(2,056,054)		(306,961)		(4,471,952)		(4,187,028)		(625,107)
Gross profit		581,319		333,577		219,120		32,714		1,095,207		552,697		82,516
Operating expenses(1)
Research and development expenses		(207,899)		(196,251)		(168,411)		(25,143)		(406,970)		(364,662)		(54,443)
Sales and marketing expenses		(167,045)		(145,065)		(100,264)		(14,969)		(311,630)		(245,329)		(36,627)
General and administrative expenses		(72,130)		(80,774)		(81,839)		(12,218)		(156,221)		(162,613)		(24,277)
Total operating expenses		(447,074)		(422,090)		(350,514)		(52,330)		(874,821)		(772,604)		(115,347)
Other income, net		47,643		28,278		50,283		7,507		123,611		78,561		11,729
Operating income (loss)		181,888		(60,235)		(81,111)		(12,109)		343,997		(141,346)		(21,102)
Interest and short-term investments income		57,729		59,202		65,633		9,799		122,859		124,835		18,637
Gain on fair value change of investments		3,593		7,602		-		-		3,593		7,602		1,135
Foreign currency exchange gains (losses),      net		722		(64)		(2,860)		(427)		(1,538)		(2,924)		(437)
Income (loss) before income tax expenses		243,932		6,505		(18,338)		(2,737)		468,911		(11,833)		(1,767)
Income tax expenses		(58,291)		(9,401)		(1,295)		(193)		(97,701)		(10,696)		(1,597)
Income (loss) before share of loss in equity    method investments, net of income taxes		185,641		(2,896)		(19,633)		(2,930)		371,210		(22,529)		(3,364)
Share of income (loss) in equity method    investments, net of income taxes		610		(418)		267		40		579		(151)		(23)
Net income (loss) attributable to HUYA Inc.		186,251		(3,314)		(19,366)		(2,890)		371,789		(22,680)		(3,387)
Net income (loss) attributable to ordinary    shareholders		186,251		(3,314)		(19,366)		(2,890)		371,789		(22,680)		(3,387)

 

 

 

HUYA INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)  (All amounts in thousands, except share, ADS, per share data and per ADS data)
		Three Months Ended								Six Months Ended
		June 30, 2021		March 31, 2022		June 30, 2022		June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2022
		RMB		RMB		RMB		US$		RMB		RMB		US$
Net income (loss) per ADS*
—Basic		0.78		(0.01)		(0.08)		(0.01)		1.57		(0.09)		(0.01)
—Diluted		0.77		(0.01)		(0.08)		(0.01)		1.54		(0.09)		(0.01)
Net income (loss) per ordinary share
—Basic		0.78		(0.01)		(0.08)		(0.01)		1.57		(0.09)		(0.01)
—Diluted		0.77		(0.01)		(0.08)		(0.01)		1.54		(0.09)		(0.01)
Weighted average number of ADS used in    calculating net income per ADS
—Basic		238,105,367		239,746,395		241,341,080		241,341,080		237,358,048		240,549,059		240,549,059
—Diluted		241,536,071		239,746,395		241,341,080		241,341,080		241,727,114		240,549,059		240,549,059
*   Each ADS represents one Class A ordinary share.
(1) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
		Three Months Ended								Six Months Ended
		June 30, 2021		March 31, 2022		June 30, 2022		June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2022
		RMB		RMB		RMB		US$		RMB		RMB		US$
Cost of revenues		12,969		13,112		3,667		547		29,590		16,779		2,505
Research and development expenses		32,226		23,251		7,275		1,086		68,967		30,526		4,557
Sales and marketing expenses		1,670		1,644		249		37		3,561		1,893		283
General and administrative expenses		20,636		18,746		14,045		2,097		45,760		32,791		4,896

 

 

 

HUYA INC. RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except share, ADS, per share data and per ADS data)
		Three Months Ended								Six Months Ended
		June 30, 2021		March 31, 2022		June 30, 2022		June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2022
		RMB		RMB		RMB		US$		RMB		RMB		US$
Gross profit		581,319		333,577		219,120		32,714		1,095,207		552,697		82,516
Share-based compensation expenses allocated    in cost of revenues		12,969		13,112		3,667		547		29,590		16,779		2,505
Non-GAAP gross profit		594,288		346,689		222,787		33,261		1,124,797		569,476		85,021
Operating income		181,888		(60,235)		(81,111)		(12,109)		343,997		(141,346)		(21,102)
Share-based compensation expenses		67,501		56,753		25,236		3,767		147,878		81,989		12,241
Non-GAAP operating income (loss)		249,389		(3,482)		(55,875)		(8,342)		491,875		(59,357)		(8,861)
Net income (loss) attributable to HUYA Inc.		186,251		(3,314)		(19,366)		(2,890)		371,789		(22,680)		(3,387)
Gains on fair value change of investments and    equity investee's investments; and gain    arising from partial disposal of an    investment owned by an equity investee, net of    income taxes		(3,619)		(6,842)		-		-		(3,619)		(6,842)		(1,021)
Share-based compensation expenses		67,501		56,753		25,236		3,767		147,878		81,989		12,241
Non-GAAP net income attributable to HUYA Inc.		250,133		46,597		5,870		877		516,048		52,467		7,833
Net income (loss) attributable to ordinary    shareholders		186,251		(3,314)		(19,366)		(2,890)		371,789		(22,680)		(3,387)
Gains on fair value change of investments and    equity investee's investments; and gain    arising from partial disposal of an    investment owned by an equity investee, net    of income taxes		(3,619)		(6,842)		-		-		(3,619)		(6,842)		(1,021)
Share-based compensation expenses		67,501		56,753		25,236		3,767		147,878		81,989		12,241
Non-GAAP net income attributable to    ordinary shareholders		250,133		46,597		5,870		877		516,048		52,467		7,833
Non-GAAP net income per ordinary share
—Basic		1.05		0.19		0.02		0.004		2.17		0.22		0.03
—Diluted		1.04		0.19		0.02		0.004		2.13		0.22		0.03
Non-GAAP net income per ADS
—Basic		1.05		0.19		0.02		0.004		2.17		0.22		0.03
—Diluted		1.04		0.19		0.02		0.004		2.13		0.22		0.03
Weighted average number of ADS used in     calculating Non-GAAP net income per    ADS
—Basic		238,105,367		239,746,395		241,341,080		241,341,080		237,358,048		240,549,059		240,549,059
—Diluted		241,536,071		241,014,680		241,686,424		241,686,424		241,727,114		241,222,552		241,222,552

 

View original content:https://www.prnewswire.com/news-releases/huya-inc-reports-second-quarter-2022-unaudited-financial-results-301606344.html

SOURCE HUYA Inc.

FAQ

What were Huya's total revenues for Q2 2022?

Huya's total net revenues for Q2 2022 were RMB2,275.2 million (US$339.7 million).

How did Huya perform in terms of net income for Q2 2022?

Huya reported a net loss of RMB19.4 million (US$2.9 million) for Q2 2022.

What was the decline in gross profit for Huya in Q2 2022?

Huya's gross profit for Q2 2022 was RMB219.1 million, a decrease from RMB581.3 million in Q2 2021.

How many average mobile MAUs did Huya have in Q2 2022?

Huya had an average of 83.6 million mobile MAUs in Q2 2022, a 7.7% increase year-over-year.

What were the live streaming revenues for Huya in Q2 2022?

Live streaming revenues for Q2 2022 were RMB2,051.9 million, down from RMB2,579.2 million in the same quarter of 2021.