Huya rises on Q1 profit vs year-ago loss

HUYA

16/05/2023 12:28

** U.S.-listed shares of Chinese videogame streaming site
Huya Inc  HUYA.N  up 3.8% at $3.57 premarket
    ** Company posts Q1 net income per ordinary share of 0.18
yuan ($0.0260) vs net loss per ordinary share of 0.01 yuan a
year earlier
    ** "Alongside our stepped-up efforts to optimize costs,
particularly content costs, our first-quarter gross margin
rebounded sequentially, nearly reaching its level in the same
quarter last year" - Ashley Xin Wu, vice president of finance of
Huya
    ** Q1 average mobile monthly active users of Huya Live rise
to 82.1 mln from 81.9 mln a year earlier
    ** Three of 16 brokerages rate stock "buy" or higher, 10
"hold", 3 "sell" or lower; median PT is $3.80 - Refinitiv
    ** As of last close, stock down 12.91% YTD

($1 = 6.9121 Chinese yuan renminbi)

 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))