- HUYA Inc (NYSE:HUYA) reported 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.
