Why DouYu (DOYU) Shares Are Trading Higher Today - DouYu Intl Hldgs (NASDAQ:DOYU)

DouYu International Holdings Limited DOYU reported a second-quarter FY22 revenue decline of 21.6% to $273.7 million year-on-year, beating the consensus of 263.99 million.
Segments: DouYu's Livestreaming revenues decreased by 18.8% Y/Y to $264 million due to prudent operating strategies in anticipation of a tightening regulatory environment.
Advertising and other revenues declined by 59% Y/Y to $9.7 million due to the challenging macro environment and exploration of new commercialization models.
Gross margin rose by 380 bps to 16.9%.
Adjusted loss per ADS of $(0.01) beat the consensus loss of $(0.04).
DouYu held $998 million in cash and equivalents.
Drivers: DouYu's quarterly average mobile MAUs fell 8.2% Y/Y to 55.7 million. The quarterly average paying user count decreased 8.3% Y/Y to 6.6 million.
Price Action: DOYU shares traded higher by 12% at $1.40 in the premarket on the last check Monday.

DouYu Shares Trade Higher Premarket On Q2 Beat