Douyu International falls on smaller-than-expected Q3 revenue

DouYu International Holdings

16/11/2021 14:51

** U.S. listing of China-based live streaming platform
company  DOYU.O  drops 8.3% in early trade to $3.45
    ** DOYU posts Q3 revenue of 2.35 bln yuan ($367.50 mln),
missing analysts' expectations of 2.42 bln yuan, as per
Refinitiv Eikon data  urn:newsml:reuters.com:*:nPn7SVmsXa
    ** The game-centric company's Q3 revenue was also lower than
the revenue of 2.55 bln seen in the same period in 2020
    ** China's gaming sector has been subjected to regulatory
scrutiny this year, pressuring gaming-related stocks
 urn:newsml:reuters.com:*:nL4N2R705F
    ** The 21st Century Business Herald newspaper on Tuesday
cited unnamed company executives to report the regulator may
publish a new batch of approved games as soon as this month,
resuming approvals after a three month halt  urn:newsml:reuters.com:*:nL8N2S70FW
    ** 3 of 10 brokerages rate DOYU "buy" or higher, 6 "hold"
and 1 "sell"; their median PT is $3.80
    ** YTD, DOYU has fallen 68.8%, including session moves
    
($1 = 6.3946 Chinese yuan renminbi)

 (Reporting by Aaron Saldanha in Bengaluru)
 ((Aaron.Saldanha@thomsonreuters.com; +91 80 6749 1130))