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Mar 31
HUYA Q1 2025 Earnings Report
HUYA posted flat revenue and a marginal profit, as strength in game-related services helped offset continued challenges in live streaming.
Key Takeaways
HUYA's Q1 2025 results showed stable total net revenues year-over-year at $207.9 million, supported by a 52.1% increase in game-related services and advertising. While live streaming revenue declined, the company returned to profitability, with a net income of $0.1 million and a non-GAAP EPS of $0.01. Investments in AI-powered features and overseas expansion were key strategic highlights.
Total revenue reached $207.9 million, nearly flat YoY.
Net income was $0.1 million, with a non-GAAP net income of $3.3 million.
Live streaming revenue fell while game-related services rose 52.1% YoY.
HUYA deployed AI innovations and increased its global mobile platform presence.
HUYA
HUYA
HUYA Revenue by Segment
Revenue by Segment
Live Streaming Revenue
CapyFin.comGame Services & Ads Revenue
CapyFin.com Forward Guidance
HUYA plans to drive growth via its AI + Live Streaming strategy, overseas expansion, and continued optimization of its content and monetization capabilities.
Positive Outlook
- AI integration enhances viewer engagement, notably with 'Hu Xiao Ai'.
- Overseas game services saw multi-fold sequential revenue growth.
- Game-related revenue now 24.6% of total revenue, up from 16.2% YoY.
- Maintained positive net income despite declining live streaming segment.
- Strong cash position with over $860M in deposits and equivalents.
Challenges Ahead
- Live streaming revenue continued to decline year-over-year.
- Gross margin dropped to 12.5% from 14.7% last year.
- Overall operating loss widened compared to Q1 2024.
- Lower interest income impacted bottom line.
- Brand advertising revenue declined within the game services segment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income