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Benzinga
Benzinga
Business
Anusuya Lahiri

HUYA Misses Q1 Revenue Amid Live Streaming Crackdown, COVID Resurgence

  • HUYA Inc (NYSE:HUYAreported a first-quarter FY22 revenue decline of 5.4% year-on-year to $388.8 million, missing the consensus of $435.6 million.
  • Segments: HUYA's Live streaming revenues declined by 10.1% Y/Y to $339.4 million due to lower average spending per paying user on Huya Live.
  • HUYA's advertising and other revenues rose 47.2% Y/Y to $49.4 million, driven by content sub-licensing revenues.
  • Also Read: More Trouble Brews For Alibaba, TikTok And Others As China Intensify Livestream Crackdown
  • Drivers: Average mobile MAUs of Huya Live rose 8.5% Y/Y to 81.9 million. The total number of paying users of Huya Live was flat Y/Y at 5.9 million.
  • Margin: HUYA's gross margin contracted 620 bps to 13.5% due to higher revenue-sharing fees and content costs. 
  • HUYA's adjusted EPS of $0.03 beat the consensus of $0.01.
  • HUYA held $1.65 billion in cash and equivalents.
  • "Our operational results this quarter reflect the outcome of our continuous focus on content enrichment and user engagement as we grew our mobile MAUs by 8.5% year-over-year to reach 81.9 million amid a challenging macro environment," CEO Rongjie Dong said. 
  • Price Action: HUYA's shares closed higher by 0.51% at $3.91 on Monday.
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