GUANGZHOU, China, Nov. 15,
2022 /PRNewswire/ -- HUYA Inc. ("Huya" or the
"Company") (NYSE: HUYA), a leading game live streaming platform in
China, today announced its
unaudited financial results for the third quarter ended
September 30, 2022.
Third Quarter 2022 Highlights
- Total net revenues for the third quarter of 2022 were
RMB2,378.5 million (US$334.4 million), compared with RMB2,975.5 million for the same period of
2021.
- Net income attributable to HUYA Inc. was
RMB60.4 million (US$8.5 million) for the third quarter of 2022,
compared with RMB524.4 million for
the same period of 2021.
- Non-GAAP net income attributable to HUYA
Inc.[1] was RMB106.1
million (US$14.9 million) for
the third quarter of 2022, compared with RMB180.0 million for the same period of
2021.
- Average mobile MAUs[2] of Huya
Live for the third quarter of 2022 was 86.0 million, compared
with 85.1 million for the same period of 2021.
- Total number of paying users[3]
of Huya Live for the third quarter of 2022 was 5.5 million,
compared with 6.0 million for the same period of 2021.
"In the third quarter of 2022, we expanded our active user base
by attracting users to our enhanced interactive experience
offerings, as well as our appealing gaming and entertainment
content. Average mobile MAUs of Huya Live reached 86.0 million in
the third quarter, a slight increase from a relatively high base in
the same period last year," said Mr. Rongjie Dong, Chief Executive Officer of Huya.
"Faced with ongoing macro headwinds that impacted the broader
industry and our Company, we continued to drive live-streaming
technology improvements, explore new product features and enrich
our quality content. These steps are designed to improve our
resilience in uncertain market conditions by helping us to better
engage with our users, placing us in a stronger position to capture
future opportunities in the game and live streaming market."
Ms. Ashley Xin Wu, Vice President
of Finance of Huya, commented, "Our total net revenues were
approximately RMB2.4 billion with net
income of RMB60.4 million for the
third quarter of 2022. During the period we focused on optimizing
operations throughout the organization. As a result, our business
has become more streamlined and we reduced our total operating
expenses by 27.3% in the third quarter year-over-year, mainly
driven by sales and marketing savings. In light of the volatile
market environment, we will continue to exercise prudence and
strengthen our business and financial foundation."
[1] "Non-GAAP net
income attributable to HUYA Inc." is defined as net income
attributable to HUYA Inc. excluding (i) share-based compensation
expenses, (ii) gain on fair value change of investments, net of
income taxes, and (iii) gain arising from disposal of an equity
investment, net of income taxes. For more information, please refer
to "Use of Non-GAAP Financial Measures" and "Reconciliations of
GAAP and Non-GAAP Results" at the end of this press
release.
|
[2] Refers to
average monthly active users on mobile apps. Average mobile MAUs
for any period is calculated by dividing (i) the sum of active
users on the mobile apps for each month during such relevant
period, by (ii) the number of months during such relevant
period.
|
[3] Refers to the
sum of user accounts that purchased various products and services
on our platform at least once during such relevant
period.
|
Third Quarter 2022 Financial Results
Total net revenues for the third quarter of 2022 were
RMB2,378.5 million (US$334.4 million), compared with RMB2,975.5 million for the same period of
2021.
Live streaming revenues were RMB2,017.1 million (US$283.6 million) for the third quarter of 2022,
compared with RMB2,601.9 million for
the same period of 2021, primarily due to a decreased number of
paying users and lower average spending per paying user on Huya
Live, as the recent macro and regulatory environment adversely
affected the sentiment of the Company's paying users.
Advertising and other revenues were RMB361.4 million (US$50.8
million) for the third quarter of 2022, compared with
RMB373.7 million for the same period
of 2021, primarily due to soft demand for advertising services
resulting from the challenging macro environment. In the third
quarter of 2022, content sub-licensing revenues made a relatively
larger contribution to advertising and other revenues, mainly due
to the fact that revenues from sub-licensing of e-sports tournament
broadcasting rights are recognized according to event schedules and
experience fluctuations between different periods.
Cost of revenues decreased by 17.6% to RMB2,036.2 million (US$286.2 million) for the third quarter of 2022
from RMB2,471.5 million for the same
period of 2021, primarily due to decreased revenue sharing fees and
content costs, as well as bandwidth costs.
Revenue sharing fees and content costs decreased by 15.7%
to RMB1,789.8 million (US$251.6 million) for the third quarter of 2022
from RMB2,123.6 million for the same
period of 2021, primarily due to the decrease in revenue sharing
fees associated with declined live streaming revenues, and lower
costs related to content creators.
Bandwidth costs decreased by 35.4% to RMB115.0 million (US$16.2
million) for the third quarter of 2022 from RMB178.0 million for the same period of 2021,
primarily due to improved bandwidth cost management and continued
technology enhancement efforts, as well as less overseas bandwidth
usage as a result of the strategic adjustment in the Company's
overseas business to focus on key markets.
Gross profit was RMB342.4
million (US$48.1 million) for
the third quarter of 2022, compared with RMB504.0 million for the same period of 2021,
primarily due to lower revenues. Gross margin was 14.4% for
the third quarter of 2022, compared with 16.9% for the same period
of 2021.
Research and development expenses decreased by 16.7% to
RMB171.8 million (US$24.1 million) for the third quarter of 2022
from RMB206.2 million for the same
period of 2021, primarily due to decreased personnel-related
expenses and share-based compensation expenses.
Sales and marketing expenses decreased by 45.8% to
RMB124.3 million (US$17.5 million) for the third quarter of 2022
from RMB229.4 million for the same
period of 2021, primarily due to decreased marketing and promotion
fees as well as personnel-related expenses.
General and administrative expenses decreased by 1.8% to
RMB78.7 million (US$11.1 million) for the third quarter of 2022
from RMB80.1 million for the same
period of 2021.
Other income was RMB43.9
million (US$6.2 million) for
the third quarter of 2022, compared with RMB94.8 million for the same period of 2021,
primarily due to lower tax refunds and government subsidies.
Operating income was RMB11.6
million (US$1.6 million) for
the third quarter of 2022, compared with RMB83.1 million for the same period of 2021.
Interest and short-term investments income were
RMB71.7 million (US$10.1 million) for the third quarter of 2022,
compared with RMB62.6 million for the
same period of 2021.
Income tax expenses were RMB19.6
million (US$2.8 million) for
the third quarter of 2022, compared with RMB40.6 million for the same period of 2021,
primarily due to the lower taxable income.
Share of income in equity method investments, net of income
taxes was RMB0.05 million for the
third quarter of 2022, compared with RMB378.7 million for the same period of 2021,
primarily due to the investment income related to a disposal of
equity investment in the third quarter of 2021.
Net income attributable to HUYA Inc. was
RMB60.4 million (US$8.5 million) for the third quarter of 2022,
compared with RMB524.4 million for
the same period of 2021.
Non-GAAP net income attributable to HUYA Inc., which
excludes share-based compensation expenses, was RMB106.1 million (US$14.9
million) for the third quarter of 2022, compared with
RMB180.0 million for the same period
of 2021, which excludes share-based compensation expenses, gain on
fair value change of investments, net of income taxes, and gain
arising from disposal of an equity investment, net of income
taxes.
Basic and diluted net income per American depositary share
("ADS") were RMB0.25 (US$0.04) and RMB0.25 (US$0.04),
respectively, for the third quarter of 2022. Basic and diluted net
income per ADS were RMB2.20 and
RMB2.17, respectively, for the third
quarter of 2021. Each ADS represents one Class A ordinary share of
the Company.
Non-GAAP basic and diluted net income per ADS were
RMB0.44 (US$0.06) and RMB0.44 (US$0.06),
respectively, for the third quarter of 2022. Non-GAAP basic and
diluted net income per ADS were RMB0.75 and RMB0.75, respectively, for the third quarter of
2021.
As of September 30, 2022, the
Company had cash and cash equivalents, short-term deposits,
short-term investments and long-term deposits of RMB11,008.2 million (US$1,547.5 million), compared with RMB10,716.7 million as of June 30, 2022.
Conference Call
The Company's management will host an earnings conference call
at 7:00 a.m. U.S. Eastern Time on
November 15, 2022 (8:00 p.m. Beijing/Hong
Kong time on November 15,
2022).
For participants who wish to join the call, please complete
online registration using the link provided below 20 minutes prior
to the scheduled call start time. Upon registration, participants
will receive the conference call access information, including
dial-in numbers, a personal PIN and an e-mail with detailed
instructions to join the conference call.
Participant Online Registration:
https://register.vevent.com/register/BIa1ec580e695d495db24197bd9a916b06
Once complete the registration, please dial-in at least 10
minutes before the scheduled start time of the earnings call and
enter the personal PIN as instructed to connect to the call.
A live webcast of the earnings call will be accessible at
https://ir.huya.com and a replay of the webcast will be available
following the session.
About HUYA Inc.
HUYA Inc. is a leading game live streaming platform in
China with a large and active game
live streaming community. The Company cooperates with e-sports
event organizers, as well as major game developers and publishers,
and has developed e-sports live streaming as one of the most
popular content genres on its platform. The Company has created an
engaged, interactive and immersive community for game enthusiasts
of China's young generation.
Building on its success in game live streaming, Huya has also
extended its content to other entertainment content genres. Huya's
open platform also functions as a marketplace for broadcasters and
talent agencies to congregate and closely collaborate with the
Company.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is
prepared in conformity with accounting principles generally
accepted in the United States of
America ("U.S. GAAP"), except that the consolidated
statement of changes in shareholders' equity, consolidated
statements of cash flows, and the detailed notes have not been
presented. Huya uses non-GAAP gross profit, non-GAAP operating
income (loss), non-GAAP net income (loss) attributable to HUYA
Inc., non-GAAP net income (loss) attributable to ordinary
shareholders, non-GAAP basic and diluted net income (loss) per
ordinary shares, and non-GAAP basic and diluted net income (loss)
per ADS, which are non-GAAP financial measures. Non-GAAP gross
profit is gross profit excluding share-based compensation expenses
allocated in cost of revenues. Non-GAAP operating income (loss) is
operating income (loss) excluding share-based compensation
expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is
net income (loss) attributable to HUYA Inc. excluding share-based
compensation expenses, gain on fair value change of investments,
net of income taxes, and gain arising from disposal of an equity
investment, net of income taxes, to the extent applicable. Non-GAAP
net income (loss) attributable to ordinary shareholders is net
income (loss) attributable to ordinary shareholders excluding
share-based compensation expenses, gain on fair value change of
investments, net of income taxes, and gain arising from disposal of
an equity investment, net of income taxes, to the extent
applicable. Non-GAAP basic and diluted net income (loss) per ADS is
non-GAAP net income (loss) attributable to ordinary shareholders
divided by weighted average number of ADS used in the calculation
of non-GAAP basic and diluted net income (loss) per ADS. The
Company believes that separate analysis and exclusion of the impact
of (i) share-based compensation expenses, (ii) gain on fair value
change of investments, net of income taxes, and (iii) gain arising
from disposal of an equity investment, net of income taxes, add
clarity to the constituent parts of its performance. The Company
reviews these non-GAAP financial measures together with GAAP
financial measures to obtain a better understanding of its
operating performance. It uses the non-GAAP financial measures for
planning, forecasting and measuring results against the forecast.
The Company believes that non-GAAP financial measures represent
useful supplemental information for investors and analysts to
assess its operating performance without the effect of (i)
share-based compensation expenses, which have been and will
continue to be significant recurring expenses in its business, and
(ii) gain on fair value change of investments, net of income taxes,
and (iii) gain arising from disposal of an equity investment, net
of income taxes, which may recur when there is observable price
change in the future. However, the use of non-GAAP financial
measures has material limitations as an analytical tool. One of the
limitations of using non-GAAP financial measures is that they do
not include all items that impact the Company's net income (loss)
for the period. In addition, because non-GAAP financial measures
are not measured in the same manner by all companies, they may not
be comparable to other similar titled measures used by other
companies. In light of the foregoing limitations, you should not
consider a non-GAAP financial measure in isolation from or as an
alternative to the financial measures prepared in accordance with
U.S. GAAP.
The presentation of these non-GAAP financial measures is not
intended to be considered in isolation from, or as a substitute
for, the financial information prepared and presented in accordance
with U.S. GAAP. For more information on these non-GAAP financial
measures, please see the table captioned "HUYA Inc. Reconciliations
of GAAP and Non-GAAP Results" at the end of this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB
to U.S. dollars are made at a rate of RMB7.1135 to US$1.00, the noon buying rate in effect on
September 30, 2022, in the H.10
statistical release of the Federal Reserve Board. The Company makes
no representation that the Renminbi or U.S. dollars amounts
referred to in this announcement could have been or could be
converted into U.S. dollars or Renminbi, as the case may be, at any
particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the business outlook and quotations from management in this
announcement, as well as Huya's strategic and operational plans,
contain forward-looking statements. Huya may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission ("SEC"), in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Huya's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Huya's goals and strategies; Huya's future business
development, results of operations and financial condition; the
expected growth of the game live streaming market; the expectation
regarding the rate at which to gain active users, especially paying
users; Huya's ability to monetize the user base; Huya's efforts in
complying with applicable data privacy and security regulations;
fluctuations in general economic and business conditions in
China; the impact of the COVID-19
to Huya's business operations and the economy in China and elsewhere generally; any regulatory
developments in laws, regulations, rules, policies or guidelines
applicable to Huya; and assumptions underlying or related to any of
the foregoing. Further information regarding these and other risks
is included in Huya's filings with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Huya does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com
HUYA
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
As of December
31,
|
|
As of September
30,
|
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
1,790,784
|
|
1,082,585
|
|
152,187
|
Restricted
cash
|
|
55,670
|
|
9,543
|
|
1,342
|
Short-term
deposits
|
|
8,351,945
|
|
9,568,380
|
|
1,345,102
|
Short-term
investments
|
|
816,331
|
|
2,206
|
|
310
|
Accounts receivable,
net
|
|
88,034
|
|
57,600
|
|
8,097
|
Amounts due from
related parties, net
|
|
148,560
|
|
98,740
|
|
13,881
|
Prepayments and other
current assets, net
|
|
664,945
|
|
1,007,073
|
|
141,572
|
|
|
|
|
|
|
|
Total current
assets
|
|
11,916,269
|
|
11,826,127
|
|
1,662,491
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Long-term
deposits
|
|
-
|
|
354,990
|
|
49,904
|
Deferred tax
assets
|
|
20,245
|
|
24,900
|
|
3,500
|
Investments
|
|
608,617
|
|
921,829
|
|
129,589
|
Property and
equipment, net
|
|
79,611
|
|
164,071
|
|
23,065
|
Intangible assets,
net
|
|
83,942
|
|
63,151
|
|
8,878
|
Right-of-use assets,
net
|
|
395,371
|
|
354,689
|
|
49,861
|
Prepayments and other
non-current assets
|
|
150,887
|
|
113,055
|
|
15,893
|
|
|
|
|
|
|
|
Total non-current
assets
|
|
1,338,673
|
|
1,996,685
|
|
280,690
|
|
|
|
|
|
|
|
Total
assets
|
|
13,254,942
|
|
13,822,812
|
|
1,943,181
|
|
|
|
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
12,579
|
|
20,654
|
|
2,903
|
Advances from
customers and deferred revenue
|
|
459,509
|
|
470,134
|
|
66,090
|
Income taxes
payable
|
|
5,944
|
|
56,994
|
|
8,012
|
Accrued liabilities
and other current liabilities
|
|
1,845,452
|
|
1,453,667
|
|
204,357
|
Amounts due to related
parties
|
|
216,128
|
|
191,884
|
|
26,975
|
Lease liabilities due
within one year
|
|
36,473
|
|
33,031
|
|
4,643
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
2,576,085
|
|
2,226,364
|
|
312,980
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Lease
liabilities
|
|
45,084
|
|
11,817
|
|
1,661
|
Deferred tax
liabilities
|
|
4,597
|
|
20,533
|
|
2,886
|
Deferred
revenue
|
|
118,975
|
|
90,224
|
|
12,683
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
168,656
|
|
122,574
|
|
17,230
|
|
|
|
|
|
|
|
Total
liabilities
|
|
2,744,741
|
|
2,348,938
|
|
330,210
|
|
|
|
|
|
|
|
HUYA
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
As of December
31,
|
|
As of September
30,
|
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Class A ordinary
shares (US$0.0001 par value;
750,000,000 shares authorized as of December
31, 2021 and September 30, 2022, respectively;
86,993,764 and 89,103,072 shares issued and
outstanding as of December 31, 2021 and
September 30, 2022, respectively)
|
|
58
|
|
59
|
|
8
|
Class B ordinary
shares (US$0.0001 par value;
200,000,000 shares authorized as of
December
31, 2021 and September 30, 2022,
respectively; 151,076,517 and 150,386,517
shares issued and outstanding as of
December
31, 2021 and September 30, 2022,
respectively)
|
|
99
|
|
98
|
|
14
|
Additional paid-in
capital
|
|
11,764,059
|
|
11,893,994
|
|
1,672,031
|
Statutory
reserves
|
|
122,429
|
|
122,429
|
|
17,211
|
Accumulated
deficit
|
|
(1,300,144)
|
|
(1,262,401)
|
|
(177,466)
|
Accumulated other
comprehensive (loss) income
|
|
(76,300)
|
|
719,695
|
|
101,173
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
10,510,201
|
|
11,473,874
|
|
1,612,971
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
13,254,942
|
|
13,822,812
|
|
1,943,181
|
HUYA
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
Three Months
Ended
|
|
Nine
Months Ended
|
|
|
September
30,
2021
|
|
June
30,
2022
|
|
September
30,
2022
|
|
September
30,
2022
|
|
September
30,
2021
|
|
September
30,
2022
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Live
streaming
|
|
2,601,854
|
|
2,051,920
|
|
2,017,128
|
|
283,563
|
|
7,573,307
|
|
6,220,752
|
|
874,499
|
Advertising and
others
|
|
373,692
|
|
223,254
|
|
361,416
|
|
50,807
|
|
969,398
|
|
897,517
|
|
126,171
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net
revenues
|
|
2,975,546
|
|
2,275,174
|
|
2,378,544
|
|
334,370
|
|
8,542,705
|
|
7,118,269
|
|
1,000,670
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues(1)
|
|
(2,471,536)
|
|
(2,056,054)
|
|
(2,036,191)
|
|
(286,243)
|
|
(6,943,488)
|
|
(6,223,219)
|
|
(874,846)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
504,010
|
|
219,120
|
|
342,353
|
|
48,127
|
|
1,599,217
|
|
895,050
|
|
125,824
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development expenses
|
|
(206,203)
|
|
(168,411)
|
|
(171,779)
|
|
(24,148)
|
|
(613,173)
|
|
(536,441)
|
|
(75,412)
|
Sales and marketing
expenses
|
|
(229,404)
|
|
(100,264)
|
|
(124,293)
|
|
(17,473)
|
|
(541,034)
|
|
(369,622)
|
|
(51,961)
|
General and
administrative expenses
|
|
(80,073)
|
|
(81,839)
|
|
(78,653)
|
|
(11,057)
|
|
(236,294)
|
|
(241,266)
|
|
(33,917)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
(515,680)
|
|
(350,514)
|
|
(374,725)
|
|
(52,678)
|
|
(1,390,501)
|
|
(1,147,329)
|
|
(161,290)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income,
net
|
|
94,804
|
|
50,283
|
|
43,949
|
|
6,178
|
|
218,415
|
|
122,510
|
|
17,222
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
83,134
|
|
(81,111)
|
|
11,577
|
|
1,627
|
|
427,131
|
|
(129,769)
|
|
(18,244)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and short-term
investments income
|
|
62,561
|
|
65,633
|
|
71,703
|
|
10,080
|
|
185,420
|
|
196,538
|
|
27,629
|
Gain on fair value
change of investments
|
|
40,568
|
|
-
|
|
-
|
|
-
|
|
44,161
|
|
7,602
|
|
1,069
|
Foreign currency
exchange losses, net
|
|
(31)
|
|
(2,860)
|
|
(3,309)
|
|
(465)
|
|
(1,569)
|
|
(6,233)
|
|
(876)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss)
before income tax expenses
|
|
186,232
|
|
(18,338)
|
|
79,971
|
|
11,242
|
|
655,143
|
|
68,138
|
|
9,578
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
|
(40,577)
|
|
(1,295)
|
|
(19,593)
|
|
(2,754)
|
|
(138,278)
|
|
(30,289)
|
|
(4,258)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
share of income (loss)
in equity method investments, net of
income taxes
|
|
145,655
|
|
(19,633)
|
|
60,378
|
|
8,488
|
|
516,865
|
|
37,849
|
|
5,320
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of income
(loss) in equity method
investments, net of income taxes
|
|
378,724
|
|
267
|
|
45
|
|
6
|
|
379,303
|
|
(106)
|
|
(15)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss) attributable to HUYA Inc.
|
|
524,379
|
|
(19,366)
|
|
60,423
|
|
8,494
|
|
896,168
|
|
37,743
|
|
5,305
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss) attributable to ordinary
shareholders
|
|
524,379
|
|
(19,366)
|
|
60,423
|
|
8,494
|
|
896,168
|
|
37,743
|
|
5,305
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUYA
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September
30,
|
|
June
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
|
2021
|
|
2022
|
|
2022
|
|
2022
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
per ADS*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
2.20
|
|
(0.08)
|
|
0.25
|
|
0.04
|
|
3.77
|
|
0.16
|
|
0.02
|
—Diluted
|
|
2.17
|
|
(0.08)
|
|
0.25
|
|
0.04
|
|
3.71
|
|
0.16
|
|
0.02
|
Net income (loss)
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
2.20
|
|
(0.08)
|
|
0.25
|
|
0.04
|
|
3.77
|
|
0.16
|
|
0.02
|
—Diluted
|
|
2.17
|
|
(0.08)
|
|
0.25
|
|
0.04
|
|
3.71
|
|
0.16
|
|
0.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating net income (loss) per
ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
238,814,217
|
|
241,341,080
|
|
242,117,367
|
|
242,117,367
|
|
237,848,772
|
|
241,077,573
|
|
241,077,573
|
—Diluted
|
|
241,449,111
|
|
241,341,080
|
|
242,287,157
|
|
242,287,157
|
|
241,774,727
|
|
241,563,318
|
|
241,563,318
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Each ADS represents
one Class A ordinary share.
|
|
(1) Share-based
compensation was allocated in cost of revenues and operating
expenses as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
September
30,
|
|
June
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
2021
|
|
2022
|
|
2022
|
|
2022
|
2021
|
2022
|
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
11,883
|
|
3,667
|
|
9,054
|
|
1,273
|
|
41,473
|
|
25,833
|
|
3,632
|
Research and
development expenses
|
|
34,720
|
|
7,275
|
|
22,289
|
|
3,133
|
|
103,687
|
|
52,815
|
|
7,425
|
Sales and marketing
expenses
|
|
2,512
|
|
249
|
|
1,507
|
|
212
|
|
6,073
|
|
3,400
|
|
478
|
General and
administrative expenses
|
|
21,714
|
|
14,045
|
|
12,813
|
|
1,801
|
|
67,474
|
|
45,604
|
|
6,411
|
HUYA
INC.
|
UNAUDITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
|
(All amounts in
thousands, except share, ADS, per share data and per ADS
data)
|
|
|
|
Three Months
Ended
|
|
Nine
Months Ended
|
|
|
September
30,
2021
|
|
June
30,
2022
|
|
September
30,
2022
|
|
September
30,
2022
|
|
September
30,
2021
|
|
September
30,
2022
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
504,010
|
|
219,120
|
|
342,353
|
|
48,127
|
|
1,599,217
|
|
895,050
|
|
125,824
|
Share-based
compensation expenses allocated
in cost of revenues
|
|
11,883
|
|
3,667
|
|
9,054
|
|
1,273
|
|
41,473
|
|
25,833
|
|
3,632
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross
profit
|
|
515,893
|
|
222,787
|
|
351,407
|
|
49,400
|
|
1,640,690
|
|
920,883
|
|
129,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
83,134
|
|
(81,111)
|
|
11,577
|
|
1,627
|
|
427,131
|
|
(129,769)
|
|
(18,244)
|
Share-based
compensation expenses
|
|
70,829
|
|
25,236
|
|
45,663
|
|
6,419
|
|
218,707
|
|
127,652
|
|
17,946
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating
income (loss)
|
|
153,963
|
|
(55,875)
|
|
57,240
|
|
8,046
|
|
645,838
|
|
(2,117)
|
|
(298)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to HUYA Inc.
|
|
524,379
|
|
(19,366)
|
|
60,423
|
|
8,494
|
|
896,168
|
|
37,743
|
|
5,305
|
Gain on fair value
change of investments, net
of income taxes
|
|
(36,511)
|
|
-
|
|
-
|
|
-
|
|
(40,130)
|
|
(6,842)
|
|
(962)
|
Gain arising from
disposal of an equity
investment, net of income taxes
|
|
(378,679)
|
|
-
|
|
-
|
|
-
|
|
(378,679)
|
|
-
|
|
-
|
Share-based
compensation expenses
|
|
70,829
|
|
25,236
|
|
45,663
|
|
6,419
|
|
218,707
|
|
127,652
|
|
17,946
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
attributable to
HUYA Inc.
|
|
180,018
|
|
5,870
|
|
106,086
|
|
14,913
|
|
696,066
|
|
158,553
|
|
22,289
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to ordinary
shareholders
|
|
524,379
|
|
(19,366)
|
|
60,423
|
|
8,494
|
|
896,168
|
|
37,743
|
|
5,305
|
Gain on fair value
change of investments, net
of income taxes
|
|
(36,511)
|
|
-
|
|
-
|
|
-
|
|
(40,130)
|
|
(6,842)
|
|
(962)
|
Gain arising from
disposal of an equity
investment, net of income taxes
|
|
(378,679)
|
|
-
|
|
-
|
|
-
|
|
(378,679)
|
|
-
|
|
-
|
Share-based
compensation expenses
|
|
70,829
|
|
25,236
|
|
45,663
|
|
6,419
|
|
218,707
|
|
127,652
|
|
17,946
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
attributable to
ordinary shareholders
|
|
180,018
|
|
5,870
|
|
106,086
|
|
14,913
|
|
696,066
|
|
158,553
|
|
22,289
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.75
|
|
0.02
|
|
0.44
|
|
0.06
|
|
2.93
|
|
0.66
|
|
0.09
|
—Diluted
|
|
0.75
|
|
0.02
|
|
0.44
|
|
0.06
|
|
2.88
|
|
0.66
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
0.75
|
|
0.02
|
|
0.44
|
|
0.06
|
|
2.93
|
|
0.66
|
|
0.09
|
—Diluted
|
|
0.75
|
|
0.02
|
|
0.44
|
|
0.06
|
|
2.88
|
|
0.66
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ADS used in
calculating Non-GAAP net income per
ADS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
238,814,217
|
|
241,341,080
|
|
242,117,367
|
|
242,117,367
|
|
237,848,772
|
|
241,077,573
|
|
241,077,573
|
—Diluted
|
|
241,449,111
|
|
241,686,424
|
|
242,287,157
|
|
242,287,157
|
|
241,774,727
|
|
241,563,318
|
|
241,563,318
|
View original
content:https://www.prnewswire.com/news-releases/huya-inc-reports-third-quarter-2022-unaudited-financial-results-301678182.html
SOURCE HUYA Inc.