Huya's revenue fell to 1.648 billion yuan in the third quarter of 2023, with live broadcast and advertising revenue decreasing year-on-year

News from this site on November 14, Huya announced today that the total net revenue in the third quarter of 2023 was 1.648 billion yuan (225.8 million U.S. dollars), compared with 2.379 billion yuan in the same period in 2022 RMB.

Net income attributable to Huya in the third quarter of 2023 was 12.1 million yuan ($1.7 million), compared with 60.4 million yuan in the same period of 2022.

Non-GAAP net income attributable to the company was 103.3 million yuan ($14.2 million) in the third quarter of 2023, compared with 106.1 million yuan in the same period in 2022.

Huya Live’s average mobile monthly active users were flat at 86 million in the third quarter of 2023, compared with 86 million in the same period in 2022.

Wu Xin, acting co-CEO and vice president of Huya, said: "Against the backdrop of a weak industry environment and our active business adjustments, our total net revenue in the third quarter of 2023 was approximately RMB 1.6 billion. . In the third quarter, our gross profit margin was 13.9%, and total operating expenses decreased by 20.7% year-over-year, reflecting our continued operational optimization efforts. In addition, in mid-August 2023, we announced that we had authorized 12 A stock repurchase program of up to $100 million was implemented during the month, with $9 million of shares repurchased as of the end of the third quarter. Looking ahead, we remain committed to further improving our financial fundamentals while increasing shareholder value."

This site learned from the financial report that live broadcast revenue in the third quarter of 2023 was RMB 1.5317 billion (USD 209.9 million), while it was RMB 2.0171 billion in the same period of 2022. Mainly due to Huya’s quarterly payment The number of users decreased , with the number of quarterly paid users decreasing from 5.5 million in the same period of 2022 to 4.2 million in the third quarter of 2023.

Advertising and other revenue reached 116.1 million yuan ($15.9 million) in the third quarter of 2023, compared with 361.4 million yuan in the same period in 2022. This is mainly due to the sharp decline in content sublicensing revenue

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