China-based live streaming platform Huya reported its financial results for the second quarter of 2023. The company generated total revenue of ￥1.82B RMB ($252.5M USD) for the period, which marks a decrease of 20% year-over-year (YoY) compared to ￥2.27B ($315M) in Q2 2022. In total, Huya ended the Q2 of 2023 with a net profit of ￥115M ($15.9M), marking a 1,850% increase compared to ￥5.9M ($818K) in Q2 2022. In addition, the monthly active users (MAU) of Huya have reached 82.9 million.
Huya noted that it had streamed over 75 large-scale esports competitions in Q2 2023, including Valorant Champions Tour (VCT) Masters Japan, League of Legends Pro League (LPL), King Pro League (KPL), and CS:GO Paris Major.
Huya Acting Co-CEO and VP of Finance Ashley Wu commented that “Huya continued to make progress in optimizing costs and expenses…and we are confident about Huya’s long-term prospects as we are forging a more balanced development pathway with a more diverse revenue mix.”
On Aug. 7, now-former Huya CEO Rongjie Dong left a message on his personal WeChat Moment (private Instagram) that it was his last day, ending his 17-year journey leading the company. Following that announcement, Wu and Huya Senior Vice President Junhong Huang named acting Co-CEOs of the company until the company board confirms a new and permanent CEO. On Aug. 1, Huya officially announced that Dong would leave the company for personal reasons.
Editor’s Note: This article used a conversion rate RMB 7.2513 = $1 USD, the noon buying rate in effect on June 30, 2023.