HUYA Misses Q1 Revenue Amid Live Streaming Crackdown, COVID Resurgence - HUYA (NYSE:HUYA)

HUYA Inc HUYA reported a first-quarter FY22 revenue decline of 5.4% year-on-year to $388.8 million, missing the consensus of $435.6 million.
Segments: HUYA's Live streaming revenues declined by 10.1% Y/Y to $339.4 million due to lower average spending per paying user on Huya Live.
HUYA's advertising and other revenues rose 47.2% Y/Y to $49.4 million, driven by content sub-licensing revenues.
Also Read: More Trouble Brews For Alibaba, TikTok And Others As China Intensify Livestream Crackdown
Drivers: Average mobile MAUs of Huya Live rose 8.5% Y/Y to 81.9 million. The total number of paying users of Huya Live was flat Y/Y at 5.9 million.
Margin: HUYA's gross margin contracted 620 bps to 13.5% due to higher revenue-sharing fees and content costs.
HUYA's adjusted EPS of $0.03 beat the consensus of $0.01.
HUYA held $1.65 billion in cash and equivalents.
"Our operational results this quarter reflect the outcome of our continuous focus on content enrichment and user engagement as we grew our mobile MAUs by 8.5% year-over-year to reach 81.9 million amid a challenging macro environment," CEO Rongjie Dong said.
Price Action: HUYA's shares closed higher by 0.51% at $3.91 on Monday.