HUYA Beats On Q1 Earnings, Margins Remain Stable

HUYA Inc HUYA reported first-quarter FY21 revenue growth of 8% year-on-year to $397.6 million (RMB2.6 billion), beating the analyst consensus of $395.85 million.
Average mobile MAUs of Huya Live rose 1.1% Y/Y to 75.5 million, but the total number of paying users of Huya Live declined 3.3% Y/Y to 5.9 million.
Live streaming revenues rose 5.2% Y/Y to $365.1 million due to higher average spending per paying user on Huya Live.
Advertising and other revenues rose 54.6% Y/Y to $32.4 million, driven by the content licensing revenues.
Cost of revenues rose 7.9% Y/Y to $319.1 million (RMB2.1 billion) due to higher revenue-sharing fees and content costs, but the gross margin remained stable at 19.7%.
Non-GAAP operating income rose 6.7% Y/Y to $37 million, with the margin remaining stable at 9.3%.
Non-GAAP net income rose 0.9% Y/Y to $40.6 million (RMB265.9 million), translating to adjusted EPS of $0.17, beating the analyst consensus of $0.13.
HUYA held $1.6 billion (RMB10.7 billion) in cash and equivalents and generated $25.4 million (RMB166.3 million) in operating cash flow.
Price action: HUYA shares traded higher by 0.78% at $15.59 in the premarket session on the last check Tuesday.

Momentum44.21

Growth17.93

Quality13.41

Value86.79

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