Douyu's net profit in the second quarter of 2023 increased by 161% year-on-year to 61.4 million yuan, and advertising and other revenue doubled

According to news from this site on August 14, Douyu today released its unaudited financial report for the second quarter of 2023. Douyu’s average mobile MAU increased to 50.3 million in the second quarter from the previous quarter, with 4 million paying users.

Douyu’s total net revenue in the second quarter was 1.3922 billion yuan, a decrease of 24.1% compared with 1.8332 billion yuan in the same period of 2022; Douyu’s gross profit was 189 million yuan, corresponding to a gross profit margin of 13.6%;Under non-GAAP, net profit increased to 61.4 million yuan, a significant year-on-year increase of 161%.

The following is a summary of the details of Douyu’s second quarter financial report for 2023:

• Revenue from live streaming services was 1.2583 billion yuan, a decrease of 28.8% from 1.7683 billion yuan in the same period last year

• Compared with the same period in 2022, advertising and other revenue increased by 106.5%, reaching 133.9 million yuan, compared with 64.9 million yuan in the same period of 2022

• The cost of revenue fell by 21.1%, from 1.5242 billion yuan in the same period of 2022 to 1.2033 billion yuan

• Compared with the same period in 2022, revenue sharing fees and content costs dropped by 25.4%, from 1.3147 billion yuan to 981.3 million yuan

• Bandwidth cost decreases Compared with the same period in 2022, the gross profit in the same period in 2022 was 309.0 million yuan. In comparison, this year’s gross profit was 309.0 million yuan. The profit was only 188.9 million yuan. At the same time, the gross profit margin has also declined, from 16.9% in the same period in 2022 to 13.6% this year. Sales and marketing expenses fell by 48.0%, from 167.5 million yuan to 87 million yuan. Yuan

• Compared with the same period in 2022, R&D expenditures fell by 30.2%, from 101.9 million yuan to 71 million yuan

• Compared with the same period in 2022 Compared with the same period last year, general and administrative expenses fell by 48.2%, from 90.7 million yuan to 46.9 million yuan

• In the same period of 2022, other operating income was 20.4 million yuan, while this year it was 20.4 million yuan. 8.6 million yuan

• The operating loss for the same period in 2022 was 30.6 million yuan, while this year’s operating loss was 7.5 million yuan

• According to the financial report , as of June 30, 2023, Douyu’s cash equivalents, restricted cash, and short-term and long-term bank time deposits totaled RMB 7.056 billion

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