HUYA Inc. announced its unaudited financial results for the third quarter ended September 30, 2024, reporting total net revenues of RMB1,537.7 million (US$219.1 million). This figure compares to RMB1,664.3 million for the same period in 2023, reflecting a decline in overall revenue.
The company's game-related services, advertising, and other revenues demonstrated robust growth, increasing by 209.3% year-over-year to RMB410.2 million (US$58.4 million). This segment contributed a record high of 26.7% of total net revenues, driven by increased game distribution, advertising services, and in-game item sales, primarily due to deepened cooperation with Tencent and other game companies. Live streaming revenues, however, decreased to RMB1,127.5 million (US$160.7 million) from RMB1,531.7 million in Q3 2023, impacted by macroeconomic conditions and strategic business adjustments.
HUYA reported a non-GAAP net income attributable to HUYA Inc. of RMB78.0 million (US$11.1 million) for the quarter. The company also updated its share repurchase program, having repurchased US$61.1 million of shares as of September 30, 2024, and extended the program's expiry date to March 31, 2025. Additionally, approximately US$400 million in special cash dividends were returned to shareholders through two rounds during the year.
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