HUYA(US:HUYA) Zheng Quan Ri Bao Wang·2025-11-12 12:46Core Insights - The company reported total revenue of 1.69 billion yuan for Q3 2025, marking a nearly nine-quarter high with a year-on-year growth rate of approximately 10% [1][2] - Live streaming revenue stabilized at 1.16 billion yuan, while game-related services, advertising, and other businesses saw rapid growth, with revenue increasing by about 30% to 530 million yuan, accounting for 31.5% of total revenue [1][2] - The company achieved a Non-GAAP operating profit of 6.3 million yuan and a net profit attributable to the company of 36.3 million yuan [1] Revenue Breakdown - Total revenue reached 1.69 billion yuan, with live streaming revenue at 1.16 billion yuan and game-related services, advertising, and other income at 530 million yuan [1][2] - Game-related services, advertising, and other income accounted for over 30% of total revenue for the first time [2][3] User Metrics - The total Monthly Active Users (MAU) reached 162 million, indicating stable user engagement [1][3] Growth Drivers - The company noted a significant increase in the number of returning top streamers and is actively promoting a multi-platform ecosystem strategy to expand the influence of its streamer ecosystem [3] - The sales of in-game items have become a new growth point, with revenue from this segment increasing by over 200% year-on-year, particularly in popular games like "Honor of Kings" and "PUBG Mobile" [4] Future Outlook - The company plans to launch its first game, "Duck Duck Goose," which has already surpassed 10 million pre-registrations during the testing phase [4] - The company aims to enhance its game publishing capabilities and has developed a self-produced variety show to support the marketing of new games [4] Live Streaming and Content Strategy - Live streaming revenue grew by approximately 3%, marking the first positive year-on-year growth since Q3 2021 [5] - The company has introduced new features such as a short video section and game assistance tools to enhance user experience and engagement [5] Event Ecosystem - The company provided nearly 100 licensed events and about 40 self-produced events in Q3 2025, maintaining a leading market share in top esports event streaming [6] - Upcoming events include the "Demacia Cup" and the "DDC Diamond Championship Autumn Tournament," aimed at further expanding the company's influence in the event ecosystem [6] International Expansion - The company is focusing on key market layouts and optimizing product experience to enhance user retention and engagement in overseas markets [6]