Q1 2026 HUYA Inc Earnings Call Transcript
Key Points
- Total net revenues grew by 15% year-over-year to RMB1.73 billion, driven by strong growth in game-related services, advertising, and other businesses.
- Game-related services, advertising, and other revenues increased by 69% year-over-year, reaching RMB627 million and accounting for 36% of total net revenues.
- The Goose Goose Duck mobile game achieved impressive results, ranking number one on the iOS free games chart for most of the first quarter.
- HUYA's estimated reach across external platforms doubled from last year, exceeding 200 million users, including those on Douyin and WeChat platforms.
- Gross margin improved to 14.6% for the quarter, up from 12.5% in the same period last year, due to increased revenue contribution from higher-margin businesses.
- Live streaming revenues decreased to RMB1.1 billion from RMB1.14 billion in the same period last year, reflecting challenges in the live streaming industry's current environment.
- Cost of revenues increased by 12% year-over-year to RMB1.48 billion, driven by higher costs of in-game virtual items and increased revenue sharing fees and content costs.
- Operating loss narrowed but remained at RMB29 million for the quarter, compared to a loss of RMB60 million in the same period last year.
- Interest income decreased to RMB30 million from RMB65 million in the same period last year, primarily due to a lower time deposit balance following the payment of special cash dividends.
- Net loss attributable to HUYA Inc. was RMB4 million for the quarter, compared to net income of RMB1 million in the same period last year.
Good day, and good evening, and thank you for standing by. Welcome to HUYA's first quarter 2026 Earnings Webinar. I'm Hanyu Liu from the HUYA's Investor Relations. (Operator Instructions) Please be advised that today's webinar is being recorded. The company's financial and operational results were issued earlier today and are posted online.
You can also view the earnings press release by visiting the IR website at ir.huya.com. A replay of the call will be available on the IR website soon. Participants of management on today's call will be Mr. Vincent Junhong Huang, our acting CEO; Mr. Raymond Peng Lei, our CFO; and Ms. Marguerite Xie, Head of Capital Markets. Management will begin with prepared remarks, and the call will conclude with a Q&A session.
Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties.
As such, the company's
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