HUYA Inc. Reports Second Quarter 2023 Unaudited Financial Results

Rhea-AI Summary

HUYA Inc. announces unaudited financial results for Q2 2023. Total net revenues were RMB1,821.4 million ($251.2 million), compared to RMB2,275.2 million in Q2 2022. Net income was RMB23.2 million ($3.2 million), compared to a net loss of RMB19.4 million in Q2 2022. Non-GAAP net income was RMB115.1 million ($15.9 million), compared to RMB5.9 million in Q2 2022. Average mobile MAUs for Huya Live in Q2 2023 was 82.9 million, a slight improvement from the previous quarter.

GUANGZHOU, China, Aug. 15, 2023 /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, 2023.

Second Quarter 2023 Highlights

• Total net revenues for the second quarter of 2023 were RMB1,821.4 million (US$251.2 million), compared with RMB2,275.2 million for the same period of 2022.
• Net income attributable to HUYA Inc. was RMB23.2 million (US$3.2 million) for the second quarter of 2023, compared with a net loss attributable to HUYA Inc. of RMB19.4 million for the same period of 2022.
• Non-GAAP net income attributable to HUYA Inc.^[1] was RMB115.1 million (US$15.9 million) for the second quarter of 2023, compared with RMB5.9 million for the same period of 2022.
• Average mobile MAUs^[2] of Huya Live for the second quarter of 2023 was 82.9 million, compared with 83.6 million for the same period of 2022.

"Although the impact of increasing offline recreational activities among our users continued into the second quarter of 2023, we maintained a stable user base through our ongoing efforts to enrich e-sports, game and entertainment content. We are pleased to report that Huya Live's average mobile MAUs reached 82.9 million for the second quarter, a slight improvement from 82.1 million for the previous quarter," said Mr. Junhong Huang, Acting Co-Chief Executive Officer and Senior Vice President of Huya. "As we drive our strategic transformation, we will build on our well-established user community and content ecosystem, striving to expand our role in the game industry. With our commitment to offering more game-related services going forward, we believe Huya is well positioned to serve the interests of more users, content creators and industry partners, underpinning our sustainable business development."

Ms. Ashley Xin Wu, Acting Co-Chief Executive Officer and Vice President of Finance of Huya, commented, "In the second quarter, we continued to make progress in optimizing costs and expenses. While our second quarter total net revenues were RMB1.8 billion amid the soft industry environment, our gross margin increased to 15.0%, and net income reached RMB23.2 million. Even though our proactive business adjustments enacted for our strategic transformation may cause some near-term volatility in our operating and financial metrics, we are confident about Huya's long-term prospects as we are forging a more balanced development pathway with a more diverse revenue mix."

[1] "Non-GAAP net income attributable to HUYA Inc." is defined as net income (loss) attributable to HUYA Inc. excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, and impairment loss of investments, to the extent applicable. For more information, please refer to the section titled "Use of Non-GAAP Financial Measures" and the table captioned "HUYA Inc. Unaudited 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.

Second Quarter 2023 Financial Results

Total net revenues for the second quarter of 2023 were RMB1,821.4 million (US$251.2 million), compared with RMB2,275.2 million for the same period of 2022.

Live streaming revenues were RMB1,715.7 million (US$236.6 million) for the second quarter of 2023, compared with RMB2,051.9 million for the same period of 2022, primarily due to a decrease in the number of quarterly paying users^[3] on Huya Live to 4.6 million for the second quarter of 2023 from 5.6 million for the same period of 2022. The decline in the number of quarterly paying users was primarily attributable to the soft macro and industry environment, as well as the increase in offline entertainment activities, which adversely affected the time spent by long-tail users on Huya's platform.

Advertising and other revenues were RMB105.8 million (US$14.6 million) for the second quarter of 2023, compared with RMB223.3 million for the same period of 2022, primarily due to a significant decrease in content sub-licensing revenues.

Cost of revenues decreased by 24.7% to RMB1,548.4 million (US$213.5 million) for the second quarter of 2023 from RMB2,056.1 million for the same period of 2022, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs.

Revenue sharing fees and content costs decreased by 24.3% to RMB1,337.7 million (US$184.5 million) for the second quarter of 2023 from RMB1,767.8 million for the same period of 2022, primarily due to the decrease in revenue sharing fees associated with the decline in live streaming revenues, and lower costs related to e-sports content as well as content creators.

Bandwidth costs decreased by 34.3% to RMB101.4 million (US$14.0 million) for the second quarter of 2023 from RMB154.4 million for the same period of 2022, primarily due to improved bandwidth cost management and continued technology enhancement efforts.

Gross profit was RMB273.0 million (US$37.7 million) for the second quarter of 2023, compared with RMB219.1 million for the same period of 2022. Gross margin was 15.0% for the second quarter of 2023, compared with 9.6% for the same period of 2022, primarily due to decreased revenue sharing fees and content costs as a percentage of total net revenues.

Research and development expenses decreased by 14.3% to RMB144.3 million (US$19.9 million) for the second quarter of 2023 from RMB168.4 million for the same period of 2022, primarily due to decreased personnel-related expenses.

Sales and marketing expenses increased by 6.1% to RMB106.4 million (US$14.7 million) for the second quarter of 2023 from RMB100.3 million for the same period of 2022, primarily due to increased promotion fees.

General and administrative expenses decreased by 8.5% to RMB74.9 million (US$10.3 million) for the second quarter of 2023 from RMB81.8 million for the same period of 2022, primarily due to decreased personnel-related expenses and share-based compensation expenses.

Other income was RMB23.8 million (US$3.3 million) for the second quarter of 2023, compared with RMB50.3 million for the same period of 2022, primarily due to lower indirect tax refunds and government subsidies.

Operating loss was RMB28.8 million (US$4.0 million) for the second quarter of 2023, compared with RMB81.1 million for the same period of 2022.

Interest and short-term investments income were RMB125.3 million (US$17.3 million) for the second quarter of 2023, compared with RMB65.6 million for the same period of 2022, primarily due to increased interest rates and improved management of deposit products.

Impairment loss of investments was RMB65.1 million (US$9.0 million) for the second quarter of 2023, compared with nil for the same period of 2022, primarily due to the recognition of impairment charges on several equity investments.

Net income attributable to HUYA Inc. was RMB23.2 million (US$3.2 million) for the second quarter of 2023, compared with a net loss attributable to HUYA Inc. of RMB19.4 million for the same period of 2022.

Non-GAAP net income attributable to HUYA Inc. was RMB115.1 million (US$15.9 million) for the second quarter of 2023, compared with RMB5.9 million for the same period of 2022.

Basic and diluted net income per American depositary share ("ADS") were RMB0.10 (US$0.01) and RMB0.09 (US$0.01), respectively, for the second quarter of 2023. Basic and diluted net loss per ADS were each RMB0.08 for the second quarter of 2022. Each ADS represents one Class A ordinary share of the Company.

Non-GAAP basic and diluted net income per ADS were RMB0.47 (US$0.07) and RMB0.47 (US$0.06), respectively, for the second quarter of 2023. Non-GAAP basic and diluted net income per ADS were each RMB0.02 for the second quarter of 2022.

As of June 30, 2023, the Company had cash and cash equivalents, short-term deposits and long-term deposits of RMB10,846.4 million (US$1,495.8 million), compared with RMB10,347.6 million as of March 31, 2023.

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

Share Repurchase Program

On August 15, 2023, the Company's board of directors authorized a share repurchase program under which the Company may repurchase up to US$100 million of its ADSs or ordinary shares over the next 12 months. The share repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund repurchases made under this program from its existing funds.

Conference Call

The Company's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on August 15, 2023 (8:00 p.m. Beijing/Hong Kong time on August 15, 2023).

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/BIcf80892cbf63431d9fde07053cb07bd4

Once registration is complete, 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 loss, non-GAAP net income attributable to HUYA Inc., non-GAAP net income attributable to ordinary shareholders, non-GAAP basic and diluted net income per ordinary shares, and non-GAAP basic and diluted net income 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 loss is operating loss excluding share-based compensation expenses. Non-GAAP net income attributable to HUYA Inc. is net (loss) income attributable to HUYA Inc. excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, and impairment loss of investments, to the extent applicable. Non-GAAP net income attributable to ordinary shareholders is net (loss) income attributable to ordinary shareholders excluding share-based compensation expenses, gain on fair value change of investments, net of income taxes, and impairment loss of investments, to the extent applicable. Non-GAAP basic and diluted net income per ADS is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, (ii) gain on fair value change of investments, net of income taxes, and (iii) impairment loss of investments, 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 measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures represent 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) gain on fair value change of investments, net of income taxes, and (iii) impairment loss of investments, 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 (loss) 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 a non-GAAP financial measure in isolation from or as an alternative to the financial measures 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. Unaudited 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 RMB7.2513 to US$1.00, the noon buying rate in effect on June 30, 2023, 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 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 

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com 

In the United States:

Piacente Financial Communications  
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,
		2022		2023		2023
		RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		655,241		692,089		95,443
Restricted cash		4,050		21,217		2,926
Short-term deposits		9,018,298		8,330,606		1,148,843
Short-term investments		3,117		-		-
Accounts receivable, net		75,898		69,204		9,544
Amounts due from related parties, net		59,702		54,454		7,510
Prepayments and other current assets, net		637,225		593,253		81,813
Total current assets		10,453,531		9,760,823		1,346,079
Non-current assets
Long-term deposits		1,072,548		1,823,741		251,505
Investments		906,215		937,104		129,233
Property and equipment, net		200,893		248,564		34,279
Intangible assets, net		57,810		46,912		6,469
Right-of-use assets, net		345,136		325,646		44,909
Prepayments and other non-current assets		110,874		105,661		14,571
Total non-current assets		2,693,476		3,487,628		480,966
Total assets		13,147,007		13,248,451		1,827,045
Liabilities and shareholders' equity
Current liabilities
Accounts payable		22,517		55,423		7,643
Advances from customers and deferred revenue		445,620		395,322		54,517
Income taxes payable		28,924		41,608		5,738
Accrued liabilities and other current liabilities		1,592,455		1,303,155		179,713
Amounts due to related parties		81,814		91,838		12,665
Lease liabilities due within one year		29,801		15,926		2,196
Total current liabilities		2,201,131		1,903,272		262,472
Non-current liabilities
Lease liabilities		8,617		5,441		750
Deferred tax liabilities		20,533		20,533		2,832
Deferred revenue		73,354		60,594		8,356
Total non-current liabilities		102,504		86,568		11,938
Total liabilities		2,303,635		1,989,840		274,410

 

 

 

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,
		2022		2023		2023
		RMB		RMB		US$
Shareholders' equity
Class A ordinary shares (US$0.0001 par value;      750,000,000 shares authorized as of December      31, 2022 and June 30, 2023, respectively;      89,401,484 and 90,302,271 shares issued and      outstanding as of December 31, 2022 and June      30, 2023, respectively)		60		60		8
Class B ordinary shares (US$0.0001 par value;      200,000,000 shares authorized as of December      31, 2022 and June 30, 2023, respectively;      150,386,517 and 150,386,517 shares issued and      outstanding as of December 31, 2022 and June      30, 2023, respectively)		98		98		14
Additional paid-in capital		11,922,820		11,990,406		1,653,553
Statutory reserves		122,429		122,429		16,884
Accumulated deficit		(1,786,800)		(1,718,785)		(237,031)
Accumulated other comprehensive income		584,765		864,403		119,207
Total shareholders' equity		10,843,372		11,258,611		1,552,635
Total liabilities and shareholders' equity		13,147,007		13,248,451		1,827,045

 

 

 

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, 2022		March 31, 2023		June 30, 2023		June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2023
		RMB		RMB		RMB		US$		RMB		RMB		US$
Net revenues
Live streaming		2,051,920		1,859,924		1,715,684		236,604		4,203,624		3,575,608		493,099
Advertising and others		223,254		89,318		105,757		14,585		536,101		195,075		26,902
Total net revenues		2,275,174		1,949,242		1,821,441		251,189		4,739,725		3,770,683		520,001
Cost of revenues(1)		(2,056,054)		(1,692,765)		(1,548,407)		(213,535)		(4,187,028)		(3,241,172)		(446,978)
Gross profit		219,120		256,477		273,034		37,654		552,697		529,511		73,023
Operating expenses(1)
Research and development expenses		(168,411)		(152,443)		(144,339)		(19,905)		(364,662)		(296,782)		(40,928)
Sales and marketing expenses		(100,264)		(91,235)		(106,411)		(14,675)		(245,329)		(197,646)		(27,257)
General and administrative expenses		(81,839)		(67,684)		(74,858)		(10,323)		(162,613)		(142,542)		(19,657)
Total operating expenses		(350,514)		(311,362)		(325,608)		(44,903)		(772,604)		(636,970)		(87,842)
Other income, net		50,283		4,176		23,786		3,280		78,561		27,962		3,856
Operating loss		(81,111)		(50,709)		(28,788)		(3,969)		(141,346)		(79,497)		(10,963)
Interest and short-term investments income		65,633		96,355		125,313		17,281		124,835		221,668		30,569
Gain on fair value change of investments		-		-		-		-		7,602		-		-
Impairment loss of investments		-		-		(65,115)		(8,980)		-		(65,115)		(8,980)
Foreign currency exchange (losses) gains,       net		(2,860)		463		(2,634)		(363)		(2,924)		(2,171)		(299)
(Loss) income before income tax expenses		(18,338)		46,109		28,776		3,969		(11,833)		74,885		10,327
Income tax expenses		(1,295)		(1,281)		(5,589)		(771)		(10,696)		(6,870)		(947)
(Loss) income before share of income (loss)      in equity method investments, net of      income taxes		(19,633)		44,828		23,187		3,198		(22,529)		68,015		9,380
Share of income (loss) in equity method      investments, net of income taxes		267		-		-		-		(151)		-		-
Net (loss) income attributable to HUYA Inc.		(19,366)		44,828		23,187		3,198		(22,680)		68,015		9,380
Net (loss) income attributable to ordinary      shareholders		(19,366)		44,828		23,187		3,198		(22,680)		68,015		9,380

 

 

 

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, 2022		March 31, 2023		June 30, 2023		June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2023
			RMB		RMB		RMB		US$		RMB		RMB		US$
Net (loss) income per ADS*
—Basic			(0.08)		0.18		0.10		0.01		(0.09)		0.28		0.04
—Diluted			(0.08)		0.18		0.09		0.01		(0.09)		0.28		0.04
Net (loss) income per ordinary share
—Basic			(0.08)		0.18		0.10		0.01		(0.09)		0.28		0.04
—Diluted			(0.08)		0.18		0.09		0.01		(0.09)		0.28		0.04
Weighted average number of ADS used in      calculating net (loss) income per ADS
—Basic			241,341,080		242,786,352		243,751,192		243,751,192		240,549,059		243,271,438		243,271,438
—Diluted			241,341,080		246,437,853		246,832,447		246,832,447		240,549,059		246,657,234		246,657,234
**   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, 2022		March 31, 2023		June 30, 2023		June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2023
			RMB		RMB		RMB		US$		RMB		RMB		US$
Cost of revenues			3,667		8,264		5,347		737		16,779		13,611		1,877
Research and development expenses			7,275		19,940		12,897		1,779		30,526		32,837		4,528
Sales and marketing expenses			249		1,227		716		99		1,893		1,943		268
General and administrative expenses			14,045		11,262		7,806		1,076		32,791		19,068		2,630

 

 

 

HUYA INC. UNAUDITED 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, 2022		March 31, 2023		June 30, 2023		June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2023
		RMB		RMB		RMB		US$		RMB		RMB		US$
Gross profit		219,120		256,477		273,034		37,654		552,697		529,511		73,023
Share-based compensation expenses allocated      in cost of revenues		3,667		8,264		5,347		737		16,779		13,611		1,877
Non-GAAP gross profit		222,787		264,741		278,381		38,391		569,476		543,122		74,900
Operating loss		(81,111)		(50,709)		(28,788)		(3,969)		(141,346)		(79,497)		(10,963)
Share-based compensation expenses		25,236		40,693		26,766		3,691		81,989		67,459		9,303
Non-GAAP operating loss		(55,875)		(10,016)		(2,022)		(278)		(59,357)		(12,038)		(1,660)
Net (loss) income attributable to HUYA Inc.		(19,366)		44,828		23,187		3,198		(22,680)		68,015		9,380
Gain on fair value change of investments, net      of income taxes		-		-		-		-		(6,842)		-		-
Impairment loss of investments		-		-		65,115		8,980		-		65,115		8,980
Share-based compensation expenses		25,236		40,693		26,766		3,691		81,989		67,459		9,303
Non-GAAP net income attributable to HUYA Inc.		5,870		85,521		115,068		15,869		52,467		200,589		27,663
Net (loss) income attributable to ordinary      shareholders		(19,366)		44,828		23,187		3,198		(22,680)		68,015		9,380
Gain on fair value change of investments, net      of income taxes		-		-		-		-		(6,842)		-		-
Impairment loss of investments		-		-		65,115		8,980		-		65,115		8,980
Share-based compensation expenses		25,236		40,693		26,766		3,691		81,989		67,459		9,303
Non-GAAP net income attributable to      ordinary shareholders		5,870		85,521		115,068		15,869		52,467		200,589		27,663
Non-GAAP net income per ordinary share
—Basic		0.02		0.35		0.47		0.07		0.22		0.82		0.11
—Diluted		0.02		0.35		0.47		0.06		0.22		0.81		0.11
Non-GAAP net income per ADS
—Basic		0.02		0.35		0.47		0.07		0.22		0.82		0.11
—Diluted		0.02		0.35		0.47		0.06		0.22		0.81		0.11
Weighted average number of ADS used in      calculating Non-GAAP net income per      ADS
—Basic		241,341,080		242,786,352		243,751,192		243,751,192		240,549,059		243,271,438		243,271,438
—Diluted		241,686,424		246,437,853		246,832,447		246,832,447		241,222,552		246,657,234		246,657,234

 

View original content:https://www.prnewswire.com/news-releases/huya-inc-reports-second-quarter-2023-unaudited-financial-results-301900697.html

SOURCE HUYA Inc.

FAQ

What were HUYA Inc.'s total net revenues for Q2 2023?

HUYA Inc.'s total net revenues for Q2 2023 were RMB1,821.4 million ($251.2 million).

What was HUYA Inc.'s net income for Q2 2023?

HUYA Inc.'s net income for Q2 2023 was RMB23.2 million ($3.2 million).

What was HUYA Inc.'s non-GAAP net income for Q2 2023?

HUYA Inc.'s non-GAAP net income for Q2 2023 was RMB115.1 million ($15.9 million).

What was the average mobile MAUs for Huya Live in Q2 2023?

The average mobile MAUs for Huya Live in Q2 2023 was 82.9 million.

Who is the Acting Co-Chief Executive Officer and Senior Vice President of Huya?

Mr. Junhong Huang is the Acting Co-Chief Executive Officer and Senior Vice President of Huya.

Who is the Acting Co-Chief Executive Officer and Vice President of Finance of Huya?

Ms. Ashley Xin Wu is the Acting Co-Chief Executive Officer and Vice President of Finance of Huya.