"Total net revenues climbed 15% year over year to RMB 1.73 billion in the first quarter of 2026, underscoring Huya's ability to grow even as the domestic live-streaming market slows. Management framed this as evidence that the company's pivot toward games, advertising and new formats is gaining traction and broadening its top-line drivers."
"Game-related services, advertising and other revenues surged 69% year over year to a record RMB 627 million, now accounting for 36% of total revenue. This record mix shift signals that Huya is becoming less dependent on virtual gifting and traditional live streaming, with higher-potential game publishing and ad models taking center stage."
"Gross profit rose 34% from a year earlier to RMB 253 million, lifting gross margin to 14.6% from 12.5% as the revenue mix improved. On a non-GAAP basis, gross margin reached 14.8%, suggesting that scaling higher-margin businesses is already feeding through to the bottom line despite rising content costs."
"Non-GAAP net income attributable to Huya came in at RMB 21 million, equivalent to non-GAAP diluted net income of RMB 0.09 per ADS, marking a clear improvement versus last year. The non-GAAP operating loss narrowed sharply to RMB 3 million from RMB 36 million, indicating that operating leverage is beginning to emerge as new businesses scale."
Total net revenues increased 15% year over year to RMB 1.73 billion in the first quarter of 2026. Game-related services, advertising, and other revenues grew 69% year over year to a record RMB 627 million, reaching 36% of total revenue. Gross profit rose 34% to RMB 253 million, and gross margin expanded to 14.6% from 12.5% as the revenue mix improved. Non-GAAP net income attributable to Huya was RMB 21 million, with non-GAAP diluted net income of RMB 0.09 per ADS. Non-GAAP operating loss narrowed to RMB 3 million from RMB 36 million, indicating operating leverage as new businesses scale.
Read at TipRanks Financial
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