Advertisement
U.S. markets close in 3 hours 37 minutes
  • S&P 500

    5,250.90
    +2.41 (+0.05%)
     
  • Dow 30

    39,780.33
    +20.25 (+0.05%)
     
  • Nasdaq

    16,379.05
    -20.47 (-0.12%)
     
  • Russell 2000

    2,133.05
    +18.70 (+0.88%)
     
  • Crude Oil

    82.59
    +1.24 (+1.52%)
     
  • Gold

    2,234.80
    +22.10 (+1.00%)
     
  • Silver

    24.86
    +0.11 (+0.44%)
     
  • EUR/USD

    1.0801
    -0.0028 (-0.26%)
     
  • 10-Yr Bond

    4.1910
    -0.0050 (-0.12%)
     
  • GBP/USD

    1.2636
    -0.0002 (-0.02%)
     
  • USD/JPY

    151.2600
    +0.0140 (+0.01%)
     
  • Bitcoin USD

    70,751.00
    +1,835.45 (+2.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,965.30
    +33.32 (+0.42%)
     
  • Nikkei 225

    40,168.07
    -594.66 (-1.46%)
     

HUYA Plunges On 25% Topline Decline, Warning On Near Term Challenges

  • HUYA Inc (NYSE: HUYA) is down over 15% in Tuesday's trading session following its Q4 results. The company warned that it might face continued pressure from the volatile market environment in the near term.

  • HUYA's fourth-quarter FY22 revenue declined 25.2% year-on-year to $304.79 million, marginally missing the consensus of $304.92 million.

  • Segments: HUYA's Live streaming revenues declined by 24.4% Y/Y to $286.37 million due to lower average spending per paying user on Huya Live.

  • HUYA's advertising and other revenues declined 35.1% Y/Y to $18.42 million due to weak demand for advertising services.

  • Drivers: Average mobile MAUs of Huya Live was 85.5 million in Q4 FY22, compared with 85.4 million in Q4 FY21. The total number of paying users of Huya Live was 5.5 million in Q4, down from 5.6 million a year ago.

  • Margin: HUYA's gross margin loss was (13.5)% versus 0% a year ago due to lower revenues and increased content costs related to e-sports content.

  • HUYA's adjusted EPS loss of $(0.26) beat the consensus loss of $(0.30).

  • HUYA held $1.56 billion in cash and equivalents.

  • Rongjie Dong, CEO of Huya, said, "While we may face continued pressure from the volatile market environment in the near term, we are shoring up our long-term prospects. We will continue to reinforce Huya's core competencies and actively explore a diversified business ecosystem for new growth opportunities while maintaining our leadership position in the game live streaming market."

  • Price Action: HUYA's shares traded lower by 15.7% at $3.31 on the last check Tuesday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article HUYA Plunges On 25% Topline Decline, Warning On Near Term Challenges originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement