HUYA Inc. Reports Third Quarter 2023 Unaudited Financial Results

Rhea-AI Summary

HUYA Inc. (NYSE: HUYA) announced unaudited financial results for Q3 2023, with total net revenues at RMB1,647.8 million (US$225.8 million). The company recorded net income of RMB12.1 million (US$1.7 million) and non-GAAP net income of RMB103.3 million (US$14.2 million). Average mobile MAUs for Huya Live remained flat at 86.0 million. The company is focusing on strategic transformation, aiming for a shift in commercialization focus with more game-related services.

Positive

• Huya's non-GAAP net income of RMB103.3 million for Q3 2023 is a positive indication of the company's ability to adapt to the changing industry environment and its strategic transformation.
• The decrease in total net revenues and paying users is a negative point, reflecting the impact of the soft macro and industry environment on Huya's operations.

Negative

• None.

GUANGZHOU, China, Nov. 14, 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 third quarter ended September 30, 2023.

Third Quarter 2023 Highlights

• Total net revenues for the third quarter of 2023 were RMB1,647.8 million (US$225.8 million), compared with RMB2,378.5 million for the same period of 2022.
• Net income attributable to HUYA Inc. was RMB12.1 million (US$1.7 million) for the third quarter of 2023, compared with RMB60.4 million for the same period of 2022.
• Non-GAAP net income attributable to HUYA Inc.^[1] was RMB103.3 million (US$14.2 million) for the third quarter of 2023, compared with RMB106.1 million for the same period of 2022.
• Average mobile MAUs^[2] of Huya Live for the third quarter of 2023 remained flat at 86.0 million, compared with 86.0 million for the same period of 2022.

Mr. Junhong Huang, Acting Co-Chief Executive Officer and Senior Vice President of Huya, commented, "Our Huya Live's average mobile MAUs reached 86.0 million in the third quarter of 2023, growing by 3.7% quarter-over-quarter thanks to our diversified e-sports tournaments and entertainment programming during the summer season. As we continue to enrich our content ecosystem and strengthen our user base, we are also advancing our strategic transformation targeting a shift in our commercialization focus with more game-related services. During the quarter, we focused on establishing terms of cooperation with game studios and building the business infrastructure required to support these new services. We are confident that through strong strategic execution, we will expand Huya's presence in the game value chain and drive more balanced and sustainable business growth in the long term."

"Against the backdrop of a soft industry environment and our proactive business adjustments, our total net revenues for the third quarter of 2023 were approximately RMB1.6 billion," said Ms. Ashley Xin Wu, Huya's Acting Co-Chief Executive Officer and Vice President of Finance. "In the third quarter, we recorded a gross margin of 13.9%, and decreased total operating expenses by 20.7% year-over-year, reflecting our continuous operational optimization efforts. Furthermore, in mid-August 2023, we announced the authorization for a share repurchase program of up to US$100 million over a 12-month period and have repurchased US$9 million of our shares as of the end of the third quarter. Looking ahead, we remain committed to further improving our financial fundamentals while enhancing shareholder value."

[1] "Non-GAAP net income attributable to HUYA Inc." is defined as net 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. 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.

Third Quarter 2023 Financial Results

Total net revenues for the third quarter of 2023 were RMB1,647.8 million (US$225.8 million), compared with RMB2,378.5 million for the same period of 2022.

Live streaming revenues were RMB1,531.7 million (US$209.9 million) for the third quarter of 2023, compared with RMB2,017.1 million for the same period of 2022, primarily due to a decrease in the number of quarterly paying users^[3] on Huya Live to 4.2 million for the third quarter of 2023 from 5.5 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, the Company's proactive business adjustments in support of its strategic transformation and prudent operations, and 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 RMB116.1 million (US$15.9 million) for the third quarter of 2023, compared with RMB361.4 million for the same period of 2022, primarily due to a significant decrease in content sub-licensing revenues.

Cost of revenues decreased by 30.3% to RMB1,419.5 million (US$194.6 million) for the third quarter of 2023 from RMB2,036.2 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 31.2% to RMB1,231.8 million (US$168.8 million) for the third quarter of 2023 from RMB1,789.8 million for the same period of 2022, primarily due to the decrease in revenue sharing fees associated with the decline in live streaming revenues, as well as lower costs related to e-sports content and content creators.

Bandwidth costs decreased by 27.8% to RMB83.0 million (US$11.4 million) for the third quarter of 2023 from RMB115.0 million for the same period of 2022, primarily due to improved bandwidth cost management, favorable pricing terms and continued technology enhancement efforts.

Gross profit was RMB228.2 million (US$31.3 million) for the third quarter of 2023, compared with RMB342.4 million for the same period of 2022. Gross margin was 13.9% for the third quarter of 2023, compared with 14.4% for the same period of 2022, primarily due to lower total net revenues.

Research and development expenses decreased by 17.5% to RMB141.8 million (US$19.4 million) for the third quarter of 2023 from RMB171.8 million for the same period of 2022, primarily due to decreased personnel-related expenses and share-based compensation expenses.

Sales and marketing expenses decreased by 23.7% to RMB94.9 million (US$13.0 million) for the third quarter of 2023 from RMB124.3 million for the same period of 2022, primarily due to decreased marketing and promotion fees, as well as personnel-related expenses.

General and administrative expenses decreased by 23.1% to RMB60.5 million (US$8.3 million) for the third quarter of 2023 from RMB78.7 million for the same period of 2022, primarily due to decreased share-based compensation expenses.

Other income was RMB40.2 million (US$5.5 million) for the third quarter of 2023, compared with RMB43.9 million for the same period of 2022, primarily due to lower indirect tax refunds and government subsidies.

Operating loss was RMB28.7 million (US$3.9 million) for the third quarter of 2023, compared with operating income of RMB11.6 million for the same period of 2022.

Interest and short-term investments income was RMB128.4 million (US$17.6 million) for the third quarter of 2023, compared with RMB71.7 million for the same period of 2022, primarily due to increased interest rates and improved management of deposit products.

Impairment loss of investments was RMB80.8 million (US$11.1 million) for the third quarter of 2023, compared with nil for the same period of 2022, primarily due to the recognition of impairment charges on certain equity investments.

Net income attributable to HUYA Inc. was RMB12.1 million (US$1.7 million) for the third quarter of 2023, compared with RMB60.4 million for the same period of 2022.

Non-GAAP net income attributable to HUYA Inc. was RMB103.3 million (US$14.2 million) for the third quarter of 2023, compared with RMB106.1 million for the same period of 2022.

Basic and diluted net income per American depositary share ("ADS") were each RMB0.05 (US$0.01) for the third quarter of 2023. Basic and diluted net income per ADS were each RMB0.25 for the third quarter of 2022. Each ADS represents one Class A ordinary share of the Company.

Non-GAAP basic and diluted net income per ADS were each RMB0.42 (US$0.06) for the third quarter of 2023. Non-GAAP basic and diluted net income per ADS were each RMB0.44 for the third quarter of 2022.

As of September 30, 2023, the Company had cash and cash equivalents, short-term deposits and long-term deposits of RMB10,601.1 million (US$1,453.0 million), compared with RMB10,846.4 million as of June 30, 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 a 12-month period. As of September 30, 2023, the Company had repurchased 3.5 million ADSs with a total aggregate consideration of US$9.0 million under this program.

Earnings Webinar

The Company's management will host a Tencent Meeting Webinar at 7:00 a.m. U.S. Eastern Time on November 14, 2023 (8:00 p.m. Beijing/Hong Kong time on November 14, 2023), to review and discuss the Company's business and financial performance.

For participants who wish to join the webinar, please complete the online registration in advance using the links provided below. Upon registration, participants will receive an email with webinar access information, including meeting ID, meeting link, dial-in numbers, and a unique attendee ID to join the webinar.

Participant Online Registration:

Chinese Mainland^[4]:   https://meeting.tencent.com/dw/G4NhW2ht90d4
International:               https://voovmeeting.com/dw/G4NhW2ht90d4

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

[4] For the purpose of this announcement only, Chinese Mainland excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region of the People's Republic of China, and Taiwan.

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 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 income (loss) is operating income (loss) excluding share-based compensation expenses. Non-GAAP net income attributable to HUYA Inc. is net 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 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, (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 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 RMB7.2960 to US$1.00, the noon buying rate in effect on September 29, 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 September 30,
		2022		2023		2023
		RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		655,241		825,610		113,159
Restricted cash		4,050		19,580		2,684
Short-term deposits		9,018,298		7,657,042		1,049,485
Short-term investments		3,117		-		-
Accounts receivable, net		75,898		66,392		9,100
Prepaid assets and amounts due from related    parties, net		59,702		107,298		14,706
Prepayments and other current assets, net		637,225		663,650		90,961
Total current assets		10,453,531		9,339,572		1,280,095
Non-current assets
Long-term deposits		1,072,548		2,118,497		290,364
Investments		906,215		855,124		117,204
Property and equipment, net		200,893		262,559		35,987
Intangible assets, net		57,810		39,777		5,452
Right-of-use assets, net		345,136		321,519		44,068
Prepayments and other non-current assets		110,874		122,892		16,844
Total non-current assets		2,693,476		3,720,368		509,919
Total assets		13,147,007		13,059,940		1,790,014
Liabilities and shareholders' equity
Current liabilities
Accounts payable		22,517		19,442		2,665
Advances from customers and deferred revenue		445,620		369,091		50,588
Income taxes payable		28,924		46,371		6,356
Accrued liabilities and other current liabilities		1,592,455		1,254,236		171,910
Amounts due to related parties		81,814		111,405		15,269
Lease liabilities due within one year		29,801		10,471		1,435
Total current liabilities		2,201,131		1,811,016		248,223
Non-current liabilities
Lease liabilities		8,617		8,405		1,152
Deferred tax liabilities		20,533		20,533		2,814
Deferred revenue		73,354		51,243		7,023
Total non-current liabilities		102,504		80,181		10,989
Total liabilities		2,303,635		1,891,197		259,212

 

 

 

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 September 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 September 30, 2023, respectively;    89,401,484 and 87,545,391 shares issued and    outstanding as of December 31, 2022 and    September 30, 2023, respectively)		60		61		8
Class B ordinary shares (US$0.0001 par value;    200,000,000 shares authorized as of December    31, 2022 and September 30, 2023, respectively;    150,386,517 and 150,386,517 shares issued and    outstanding as of December 31, 2022 and    September 30, 2023, respectively)		98		98		13
Treasury shares		-		(64,747)		(8,874)
Additional paid-in capital		11,922,820		12,000,828		1,644,850
Statutory reserves		122,429		122,429		16,780
Accumulated deficit		(1,786,800)		(1,706,679)		(233,920)
Accumulated other comprehensive income		584,765		816,753		111,945
Total shareholders' equity		10,843,372		11,168,743		1,530,802
Total liabilities and shareholders' equity		13,147,007		13,059,940		1,790,014

 

 

 

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								Nine Months Ended
		September 30, 2022		June 30, 2023		September 30, 2023		September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2023
		RMB		RMB		RMB		US$		RMB		RMB		US$
Net revenues
Live streaming		2,017,128		1,715,684		1,531,711		209,938		6,220,752		5,107,319		700,016
Advertising and others		361,416		105,757		116,083		15,910		897,517		311,158		42,648
Total net revenues		2,378,544		1,821,441		1,647,794		225,848		7,118,269		5,418,477		742,664
Cost of revenues(1)		(2,036,191)		(1,548,407)		(1,419,548)		(194,565)		(6,223,219)		(4,660,720)		(638,805)
Gross profit		342,353		273,034		228,246		31,283		895,050		757,757		103,859
Operating expenses(1)
Research and development expenses		(171,779)		(144,339)		(141,791)		(19,434)		(536,441)		(438,573)		(60,111)
Sales and marketing expenses		(124,293)		(106,411)		(94,897)		(13,007)		(369,622)		(292,543)		(40,096)
General and administrative expenses		(78,653)		(74,858)		(60,463)		(8,287)		(241,266)		(203,005)		(27,824)
Total operating expenses		(374,725)		(325,608)		(297,151)		(40,728)		(1,147,329)		(934,121)		(128,031)
Other income, net		43,949		23,786		40,185		5,508		122,510		68,147		9,340
Operating income (loss)		11,577		(28,788)		(28,720)		(3,937)		(129,769)		(108,217)		(14,832)
Interest and short-term investments income		71,703		125,313		128,415		17,601		196,538		350,083		47,983
Gain on fair value change of investments		-		-		-		-		7,602		-		-
Impairment loss of investments		-		(65,115)		(80,774)		(11,071)		-		(145,889)		(19,996)
Foreign currency exchange losses, net		(3,309)		(2,634)		(1,974)		(271)		(6,233)		(4,145)		(568)
Income before income tax expenses		79,971		28,776		16,947		2,322		68,138		91,832		12,587
Income tax expenses		(19,593)		(5,589)		(4,841)		(664)		(30,289)		(11,711)		(1,605)
Income before share of income (loss) in      equity method investments, net of      income taxes		60,378		23,187		12,106		1,658		37,849		80,121		10,982
Share of income (loss) in equity method      investments, net of income taxes		45		-		-		-		(106)		-		-
Net income attributable to HUYA Inc.		60,423		23,187		12,106		1,658		37,743		80,121		10,982
Net income attributable to ordinary      shareholders		60,423		23,187		12,106		1,658		37,743		80,121		10,982

 

 

 

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								Nine Months Ended
		September 30, 2022		June 30, 2023		September 30, 2023		September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2023
		RMB		RMB		RMB		US$		RMB		RMB		US$
Net income per ADS*
—Basic		0.25		0.10		0.05		0.01		0.16		0.33		0.05
—Diluted		0.25		0.09		0.05		0.01		0.16		0.32		0.04
Net income per ordinary share
—Basic		0.25		0.10		0.05		0.01		0.16		0.33		0.05
—Diluted		0.25		0.09		0.05		0.01		0.16		0.32		0.04
Weighted average number of ADS used in      calculating net income per ADS
—Basic		242,117,367		243,751,192		244,651,286		244,651,286		241,077,573		243,736,441		243,736,441
—Diluted		242,287,157		246,832,447		246,437,179		246,437,179		241,563,318		246,529,235		246,529,235
*    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								Nine Months Ended
		September 30, 2022		June 30, 2023		September 30, 2023		September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2023
		RMB		RMB		RMB		US$		RMB		RMB		US$
Cost of revenues		9,054		5,347		2,543		349		25,833		16,154		2,214
Research and development expenses		22,289		12,897		7,296		1,000		52,815		40,133		5,501
Sales and marketing expenses		1,507		716		651		89		3,400		2,594		356
General and administrative expenses		12,813		7,806		(68)		(9)		45,604		19,000		2,604

 

 

 

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								Nine Months Ended
		September 30, 2022		June 30, 2023		September 30, 2023		September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2023
		RMB		RMB		RMB		US$		RMB		RMB		US$
Gross profit		342,353		273,034		228,246		31,283		895,050		757,757		103,859
Share-based compensation expenses allocated      in cost of revenues		9,054		5,347		2,543		349		25,833		16,154		2,214
Non-GAAP gross profit		351,407		278,381		230,789		31,632		920,883		773,911		106,073
Operating income (loss)		11,577		(28,788)		(28,720)		(3,937)		(129,769)		(108,217)		(14,832)
Share-based compensation expenses		45,663		26,766		10,422		1,429		127,652		77,881		10,675
Non-GAAP operating income (loss)		57,240		(2,022)		(18,298)		(2,508)		(2,117)		(30,336)		(4,157)
Net income attributable to HUYA Inc.		60,423		23,187		12,106		1,658		37,743		80,121		10,982
Gain on fair value change of investments, net      of income taxes		-		-		-		-		(6,842)		-		-
Impairment loss of investments		-		65,115		80,774		11,071		-		145,889		19,996
Share-based compensation expenses		45,663		26,766		10,422		1,429		127,652		77,881		10,675
Non-GAAP net income attributable to      HUYA Inc.		106,086		115,068		103,302		14,158		158,553		303,891		41,653
Net income attributable to ordinary      shareholders		60,423		23,187		12,106		1,658		37,743		80,121		10,982
Gain on fair value change of investments, net      of income taxes		-		-		-		-		(6,842)		-		-
Impairment loss of investments		-		65,115		80,774		11,071		-		145,889		19,996
Share-based compensation expenses		45,663		26,766		10,422		1,429		127,652		77,881		10,675
Non-GAAP net income attributable to      ordinary shareholders		106,086		115,068		103,302		14,158		158,553		303,891		41,653
Non-GAAP net income per ordinary share
—Basic		0.44		0.47		0.42		0.06		0.66		1.25		0.17
—Diluted		0.44		0.47		0.42		0.06		0.66		1.23		0.17
Non-GAAP net income per ADS
—Basic		0.44		0.47		0.42		0.06		0.66		1.25		0.17
—Diluted		0.44		0.47		0.42		0.06		0.66		1.23		0.17
Weighted average number of ADS used in      calculating Non-GAAP net income per      ADS
—Basic		242,117,367		243,751,192		244,651,286		244,651,286		241,077,573		243,736,441		243,736,441
—Diluted		242,287,157		246,832,447		246,437,179		246,437,179		241,563,318		246,529,235		246,529,235

 

View original content:https://www.prnewswire.com/news-releases/huya-inc-reports-third-quarter-2023-unaudited-financial-results-301987264.html

SOURCE HUYA Inc.

FAQ

What were HUYA Inc.'s total net revenues for Q3 2023?

HUYA Inc.'s total net revenues for Q3 2023 were RMB1,647.8 million (US$225.8 million).

What is the non-GAAP net income for HUYA Inc. in Q3 2023?

The non-GAAP net income for HUYA Inc. in Q3 2023 was RMB103.3 million (US$14.2 million).

What was the average mobile MAUs for Huya Live in Q3 2023?

The average mobile MAUs for Huya Live remained flat at 86.0 million in Q3 2023.

What is HUYA Inc.'s focus for strategic transformation?

HUYA Inc. is focusing on a shift in commercialization focus with more game-related services as part of its strategic transformation.