HUYA Inc. (HUYA) Reports In-Line Q4 EPS, Revenues Miss
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HUYA Inc. (NYSE: HUYA) reported Q4 EPS of $0.19, in-line with the analyst estimate of $0.19. Revenue for the quarter came in at $458.3 million versus the consensus estimate of $472.88 million.
Fourth Quarter 2020 Highlights
- Total net revenues for the fourth quarter of 2020 increased by 21.2% to RMB2,990.3 million (US$458.3 million), from RMB2,467.5 million for the same period of 2019.
- Net income attributable to HUYA Inc. was RMB253.2 million (US$38.8 million) for the fourth quarter of 2020, representing an increase of 58.6% from RMB159.7 million for the same period of 2019.
- Non-GAAP net income attributable to HUYA Inc. was RMB305.9 million (US$46.9 million) for the fourth quarter of 2020, representing an increase of 26.5% from RMB241.9 million for the same period of 2019.
- Average mobile MAUs of Huya Live in the fourth quarter of 2020 reached 79.5 million, representing an increase of 29.1% from 61.6 million in the fourth quarter of 2019.
- Average MAUs of Huya Live in the fourth quarter of 2020 reached 178.5 million, representing an increase of 18.8% from 150.2 million in the fourth quarter of 2019.
- Total number of paying users of Huya Live in the fourth quarter of 2020 reached 6.0 million, representing an increase of 17.6% from 5.1 million in the fourth quarter of 2019.
"Throughout 2020 we have continuously invested in high-quality broadcasters, e-sports tournaments, and entertainment programs to enrich our content offerings, and have thus seen significant user growth and high level of user engagement, despite the challenges presented by the global COVID-19 pandemic," said Mr. Rongjie Dong, Chief Executive Officer of Huya. "Our mobile MAUs reached 79.5 million in the fourth quarter, an increase of 29.1% year-over-year. Moving through 2021, we will continue to make investments into our content offerings, improve our products, and extend the breadth and diversity of our platform, to provide users with more enjoyable experience."
Ms. Catherine Liu, Chief Financial Officer of Huya, commented, "We are pleased to deliver solid financial results in 2020. For the full year, our total net revenues were up 30.3%, reaching RMB10.9 billion and our net income increased by 88.9% to RMB884.2 million. The year 2020 ended on a strong note, with total net revenues and gross profit for the fourth quarter up 21.2% and 28.1%, respectively, year-over-year. With continued top-line expansion and our ability to drive operating leverage, our operating margin improved to 6.3% in the fourth quarter from 4.1%, and our non-GAAP operating margin increased to 9.0% from 7.4%, both compared with the same quarter of 2019. Leveraging our team's strong execution capabilities, we will continue to capture growth opportunities to drive value for our users and shareholders."
For earnings history and earnings-related data on HUYA Inc. (HUYA) click here.
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