Huya Inc. Releases Q2 2024 Financial Report with Strong Results

On the afternoon of August 13, news came that Huya Inc. released its financial report for the second quarter of 2024. The report shows that in the second quarter of 2024, Huya Inc.'s total revenue reached 1.54 billion yuan ($217.14 million).

In terms of revenue composition, in the second quarter of 2024, Huya Inc.'s revenue from live streaming was 1.233 billion yuan ($173.29 million), and the revenue from game-related services, advertising and other businesses was 309 million yuan ($43.36 million).

According to the US Generally Accepted Accounting Principles (GAAP), in the second quarter of 2024, Huya Inc.'s gross profit was 215 million yuan ($30.36 million), and the gross profit margin was 13.9%. The net profit attributable to Huya Inc. was 29.6 million yuan ($4.19 million), an increase of 45.9% compared to the same period last year. Under non-GAAP, the net profit attributable to Huya Inc. in this quarter was 97 million yuan ($13.64 million).

In terms of user data, in the second quarter of 2024, the monthly active users (MAU) of Huya Live on the mobile side increased to 83.5 million.

Wu Xin, the co-CEO and financial vice president of Huya Inc., said: As of the end of June 2024, we have repurchased 17.1 million shares of Huya stocks, with a total value of 56.7 million US dollars. After comprehensively considering the company's financial situation, business plan, capital needs and funding situation, we are pleased to announce that we will distribute a special cash dividend of approximately 250 million US dollars to shareholders. We believe that Huya's stable balance sheet and continuously improving financial fundamentals will continue to support us in realizing shareholder returns.