NASDAQ$DOYU
Douyu -ADR · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
DouYu returns to Q2 profit as cost discipline lifts margins despite flat revenue
DouYu International reported unaudited Q2 2025 results with total net revenues of RMB1,053.9 million (US$147.1 million), up 2.1% from RMB1,032.0 million a year ago amid a volatile macro environment and intensifying industry competition. Gross profit rose 68.5% to RMB141.9 million and gross margin expanded to 13.5% as the company optimized content and bandwidth costs. Income from operations turned positive at RMB14.2 million versus a RMB119.6 million operating loss in Q2 2024. Net income was RMB37.8 million and net income per ADS was RMB1.25; adjusted net income (non-GAAP) was RMB25.3 million (RMB0.84 per ADS). Average mobile MAUs for live streaming were 36.4 million and quarterly average paying users were 2.8 million with ARPPU of RMB255.
- Q2 net revenues RMB1,053.9M (+2.1% YoY); gross profit RMB141.9M (+68.5%).
- Operating income turned positive at RMB14.2M vs RMB119.6M loss in Q2 2024.
- Net income RMB37.8M; GAAP net income per ADS RMB1.25; adjusted net income RMB25.3M.
- Gross margin expanded to 13.5% on content and bandwidth cost optimization.
- 36.4M mobile MAUs and 2.8M quarterly average paying users (ARPPU RMB255).
Headline financials
Revenue & EPS history
Douyu · Revenue · Quarterly
¥1.05B
Revenue by segment
Douyu · ¥1.19B total across 3 segments · Q4 2025
- Livestreaming¥513M—43.1%
- Innovative business, advertising and other¥406M—34.1%
- Voice-based social networking (within innovative/advertising line)¥271M—22.8%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
-0.5%
Avg return
Earnings day
-0.8%
Avg return
5 days after
+4.6%
Avg return
30 days after
28%
8 / 29 earnings
Positive
+39.4%
Q4 2021
Best reaction
-18.0%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +7.3% | — | |
| Q4 2025 | +0.0% | +3.3% | +10.2% | |
| Q3 2025 | -5.0% | +1.7% | +1.3% | |
| Q2 2025 | +13.4% | +14.6% | +7.8% | |
| Q1 2025 | -1.3% | -3.9% | -6.9% | |
| Q4 2024 | +10.4% | +6.2% | -24.0% | |
| Q3 2024 | -1.7% | +0.6% | +16.3% | |
| Q2 2024 | -11.8% | -9.7% | +9.1% | |
| Q4 2023 | -11.3% | -16.5% | +7.0% | |
| Q3 2023 | +10.2% | +5.3% | +26.7% | |
| Q2 2023 | -1.0% | -5.6% | -5.0% | |
| Q1 2023 | +3.0% | +6.0% | +11.0% | |
| Q4 2022 | -1.7% | -5.1% | -5.1% | |
| Q3 2022 | -12.9% | -12.9% | +11.4% | |
| Q2 2022 | +0.8% | +2.4% | +14.4% | |
| Q1 2022 | -4.6% | -13.2% | -19.7% | |
| Q4 2021 | +39.4% | +56.3% | +41.5% | |
| Q3 2021 | -15.9% | -18.3% | -33.2% | |
| Q2 2021 | -0.9% | -4.6% | +0.6% | |
| Q1 2021 | -0.9% | -6.5% | +0.3% | |
| Q4 2020 | -11.1% | -19.4% | -23.7% | |
| Q3 2020 | +3.5% | +3.8% | -14.0% | |
| Q2 2020 | -5.5% | -4.1% | +5.2% | |
| Q1 2020 | +17.7% | +30.2% | +60.6% | |
| Q4 2017 | -1.1% | -7.4% | +18.9% | |
| Q4 2018 | -1.1% | -7.4% | +18.9% | |
| Q4 2019 | -6.2% | -13.5% | -2.5% | |
| Q3 2019 | -2.5% | -1.8% | +6.5% | |
| Q2 2019 | -18.0% | -12.4% | -5.4% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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