HUYA Inc. (NYSE: HUYA) beat revenue and earnings expectations for the fourth quarter of 2019. The consensus estimates were for earnings of $0.13 per share on revenue of $342 million.
The company saw an increase of 64% in net revenues to RMB2,467.5 million ($354.4 million) compared to the prior-year period, helped by its strong monetization capabilities.
GAAP net income attributable to HUYA Inc. rose 60.3% to RMB159.7 million ($22.9 million) while adjusted net income grew by nearly 45% to RMB241.9 million ($34.7 million).
Diluted net income per American depositary share (ADS) was RMB0.68 ($0.10) while adjusted diluted net income per ADS was RMB1.02 ($0.15).
During the quarter, average monthly active users (MAUs) of Huya Live reached 150.2 million, up 28.8% from last year while average mobile MAUs grew 21.5% year-over-year to 61.6 million. Total number of paying users of Huya Live reached 5.1 million, up 5.9% from last year.
In the fourth quarter, Huya saw an increase of 62.7% in live streaming revenues to RMB2,346.1 million ($337 million), driven by increases in the number of paying users on Huya Live and the average spending per paying user.
Advertising and other revenues rose 92.1% to RMB121.3 million ($17.4 million), driven mainly by rising demand from advertisers and strength in the online advertising market.
For the first quarter of 2020, Huya expects net revenues to grow 44.7-47.1% year-over-year to a range of RMB2,360 million to RMB2,400 million.
Huya’s shares were down 5.4% in morning trade on Tuesday.
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