JOYY(US:YY) Sou Hu Cai Jing·2025-08-13 08:40Core Viewpoint - The financial report for Q1 2025 from Huya Group indicates a revenue decline primarily due to a contraction in its live streaming business, which significantly impacts overall performance [1][3]. Revenue Summary - Huya Group reported a revenue of $494 million for Q1 2025, representing a year-over-year decrease of 12.4% [1]. - The live streaming business accounted for 75.12% of the main revenue, generating $371.3 million, which is a 7.4% decline compared to the previous year [3]. Business Segment Analysis - The decline in live streaming revenue resulted in a loss of nearly $100 million in revenue compared to the same period last year [3]. - Conversely, the internet value-added services segment showed significant growth, increasing its share from 17.39% in 2023 to 24.88% in 2024, with a revenue increase of 24.83 million [4]. Profitability Insights - Huya Group sold YY Live to Baidu for $1.876 billion, leading to a net profit attributable to shareholders of $1.92 billion for Q1 2025. However, excluding the sale proceeds, the net profit from ongoing operations was $45.4 million [5]. - The current CEO, Li Ting, who took over in August 2024, expressed the expectation for non-live streaming businesses to become a second growth engine for Huya Group [5].