DouYu Q2: 24.1% Topline Decline, Beats Expectations, Mobile User Base And Paying Users Fall
Portfolio Pulse from Anusuya Lahiri
DouYu International Holdings Limited reported a Q2 FY23 revenue decline of 24.1% to $192 million, beating the consensus of $183.05 million. Livestreaming revenues decreased by 28.8% due to operational adjustments, while advertising and other revenues increased by 106.5%. Gross margin declined by 330 bps to 13.6%. The company's average mobile MAUs and paying user count also decreased. Despite this, DOYU shares traded higher by 0.95% at $1.06 premarket.
August 14, 2023 | 10:44 am
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DouYu's Q2 FY23 revenue beat expectations despite a 24.1% decline. Livestreaming revenues fell by 28.8% while advertising revenues rose by 106.5%. The company's mobile MAUs and paying user count also fell. However, DOYU shares traded higher premarket.
Despite the decline in revenue and user base, DouYu's stock is trading higher as the company managed to beat the consensus estimates. The increase in advertising revenues also indicates a potential new revenue stream for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100