DouYu International Holdings Limited (NASDAQ: DOYU) reported Q1 EPS of ($0.01), $0.05 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $328.6 million versus the consensus estimate of $328.66 million.

First Quarter 2021 Financial and Operational Highlights

Total net revenues in the first quarter of 2021 were RMB2,152.7 million (US$328.6 million), compared with RMB2,278.0 million in the same period of 2020.
Gross profit in the first quarter of 2021 was RMB260.2 million (US$39.7 million), compared with RMB485.9 million in the same period of 2020, implying a gross margin of 12.1% in the first quarter of 2021.
Net loss in the first quarter of 2021 was RMB101.8 million (US$15.5 million), compared with a net income of RMB254.5 million in the same period of 2020.
Adjusted net loss in the first quarter of 2021 was RMB70.7 million (US$10.8 million), compared with an adjusted net income of RMB296.9 million in the same period of 2020.
Average MAUs in the first quarter of 2021 increased by 21.3% to 191.9 million from 158.1 million in the same period of 2020.
Average mobile MAUs in the first quarter of 2021 increased by 4.5% to 59.1 million from 56.6 million in the same period of 2020.
Quarterly average paying user count in the first quarter of 2021 was 7.0 million, compared with 7.6 million in the same period of 2020.

Mr. Shaojie Chen, Chief Executive Officer of DouYu, commented, "We are pleased to announce that we maintained steady operational growth in the first quarter of 2021 as we continued to upgrade our operational system. On a year-over-year basis, our total average MAUs increased by 21.3% to 191.9 million while our average mobile MAUs increased by 4.5% to 59.1 million. By continuously enriching our content library and diversifying our live streaming, video, and community content offerings, we remain committed to developing a diversified and industry leading game-centric integrated platform."

Mr. Hao Cao, Vice President of DouYu, commented, "In the first quarter of 2021, our total revenues were RMB2.15 billion and gross profit was RMB260.2 million, representing a gross margin of 12.1%. During the quarter, we increased our investments in content, as we remained focused on improving our content production in both our video and community businesses. Looking ahead, we will continue to optimize the monetization capabilities and improve monetization efficiency of our platform while striving to generate more long-term value for our shareholders. "

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