NYSE$HUYA
HUYA Inc · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
HUYA stabilizes revenue at RMB 1.51B as game-related services surge 52%
HUYA Inc. reported unaudited first-quarter 2025 results for the period ended March 31, 2025, with total net revenues of RMB 1,508.6 million (US$207.9 million), essentially flat versus RMB 1,504.0 million a year earlier and up slightly sequentially. Game-related services, advertising and other revenues jumped 52.1% to RMB 370.4 million, rising to 24.6% of total revenue from 16.2% in Q1 2024, helping stabilize top line after live-streaming declines. GAAP net income attributable to HUYA was RMB 0.9 million (US$0.1 million) versus RMB 71.0 million a year ago, while non-GAAP net income was RMB 24.0 million (US$3.3 million). Non-GAAP diluted net income per ADS was RMB 0.10. Gross margin compressed to 12.5% from 14.7% on higher revenue-sharing and content costs. Average mobile MAUs were 83.4 million and paying users held at 4.4 million. The company had repurchased US$69.8 million of shares through March 2025.
- Total net revenue of RMB 1,508.6 million was flat YoY, marking stabilization after prior declines.
- Game-related services, advertising and other revenue surged 52.1% to RMB 370.4 million, now 24.6% of the mix.
- GAAP net income attributable to HUYA was RMB 0.9 million; non-GAAP net income was RMB 24.0 million (RMB 0.10 per ADS).
- Gross margin fell to 12.5% from 14.7% on higher revenue-sharing fees and content costs.
- Mobile MAUs of 83.4 million and 4.4 million paying users were stable; share repurchases totaled US$69.8 million.
Headline financials
Revenue & EPS history
HUYA · Revenue · Quarterly
¥1.51B
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 Q1 2025
+0.5%
Avg return
Earnings day
-2.3%
Avg return
5 days after
-3.6%
Avg return
30 days after
52%
17 / 33 earnings
Positive
+24.9%
Q1 2024
Best reaction
-18.3%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.2% | -11.0% | -24.5% | |
| Q3 2025 | -4.3% | -3.9% | +11.4% | |
| Q2 2025 | +4.8% | +0.0% | +3.9% | |
| Q1 2025 | +1.4% | +0.0% | +8.7% | |
| Q4 2024 | -18.3% | -29.3% | -26.4% | |
| Q3 2024 | -5.6% | -5.3% | -2.5% | |
| Q2 2024 | +6.7% | -1.3% | -11.4% | |
| Q1 2024 | +24.9% | +35.7% | -4.3% | |
| Q4 2023 | +1.7% | -5.7% | -4.4% | |
| Q3 2023 | +12.0% | +12.0% | +9.9% | |
| Q2 2023 | -5.6% | -17.1% | -7.1% | |
| Q1 2023 | -7.0% | -9.0% | +10.8% | |
| Q4 2022 | -15.6% | -12.8% | -18.4% | |
| Q3 2022 | +20.4% | +9.1% | +29.6% | |
| Q2 2022 | -8.6% | -13.3% | -19.6% | |
| Q1 2022 | +5.6% | +7.4% | -1.5% | |
| Q4 2021 | +14.1% | +5.2% | -21.7% | |
| Q3 2021 | +8.9% | +19.0% | -12.6% | |
| Q2 2021 | +1.1% | +2.2% | -3.6% | |
| Q1 2021 | -2.3% | -4.5% | +9.6% | |
| Q4 2017 | +1.2% | -6.1% | -19.8% | |
| Q4 2020 | -13.9% | -16.2% | -27.9% | |
| Q3 2020 | +7.3% | +8.5% | +2.2% | |
| Q2 2020 | +7.0% | +0.3% | +6.5% | |
| Q1 2020 | -8.9% | -17.1% | +7.8% | |
| Q4 2019 | -3.6% | -13.2% | +7.4% | |
| Q3 2019 | -4.6% | -11.5% | -29.0% | |
| Q2 2019 | +4.9% | +19.1% | +18.5% | |
| Q1 2019 | +0.7% | -3.9% | +8.3% | |
| Q4 2018 | +18.8% | -4.2% | +7.3% | |
| Q3 2018 | -1.6% | -6.8% | -11.7% | |
| Q2 2018 | -14.3% | -20.4% | -16.1% | |
| Q1 2018 | -1.5% | +17.5% | +0.7% | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — |
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