— China-based esports streaming platform Huya Inc. (NYSE: HUYA) reported its third-quarter 2019 adjusted earnings of $0.12 per American Depository Shares versus $0.11 per ADS expected.
— Total net revenues jumped by 77.4% to $316.9 million versus $305.03 million expected. The results were driven by higher live streaming revenues as well as rising demand from gaming advertisers.
— Live streaming revenues increased by 77.2% on the increase in both average spending per paying user and the number of paying users on Huya’s platform.
— Advertising and other revenues soared by 81.3% on rising demand from gaming advertisers, the newly launched advertising distribution platform, and further recognition of Huya’s brand name in China’s online advertising market.
— Average mobile MAUs reached 63.8 million, representing an increase of 29.1% from 49.4 million in the third quarter of 2018. Average MAUs jumped by 47.6% to 146.1 million from 99.0 million a year ago.
— The total number of paying users reached 5.3 million, representing an increase of 28.5% from 4.2 million in the third quarter of 2018.
— Looking ahead into the fourth quarter, the company expects total net revenues in the range of RMB2,340 million to RMB2,420 million. This represents year-over-year growth of between 55.5% and 60.8%.