- Net revenue jumped by 111.5% from Q1 2017 at RMB 843.6M (about $134.5M)
- Average Mobile MAUs increased by 25% year-on-year, now at 41.5 million
- It has turned its net losses into net profits of RMB 31.4 million within a year
On May 11, 2018, Huya became China’s first listed game live streaming platform, after a bout of uncertainties in the Chinese live-streaming market due to heated competition and looming regulations.
Huya is a spinoff from YY Inc, a Nasdaq-listed prominent social platform giant, which also engages in live streaming and online broadcasting businesses.
In the past quarter, according to the Guangzhou-based company’s recent earnings result, it grew its mobile MAU by 25% to 41.5 million, and thanks to the growth in active user numbers, coupled with its diversified content strategy, Huya doubled its revenue to 843.6M yuan (about $134.5M), out of which, most from live streaming businesses, stands at RMB792.8 million (US$126.4 million).
Importantly, Huya managed to reap a profit, with revenue increasing by 111.5% to RMB31.4 million (US$5.0 million) as opposed to a net loss of RMB41.7 million in the same period of 2017.
Currently, with 92.9 million monthly active users, it claims to be the largest of its kind.
According to Huya’s prospectus, China’s gaming market is expected to grow approximately by 42% up to 917 million from 2017 to 2022.
Leveraging on the fact that China is the world’s largest gaming market in terms of revenue and gamers, Huya is set to continue achieving higher conversion rate of paying users via continuous engagement strategies, lowering down its costs through operational efficiencies and considering other revenue models.