NYSE$HUYA
HUYA Inc · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Huya returns to growth as game-related services hit 26% of revenue while live streaming stabilizes
HUYA Inc. reported second quarter 2025 net revenues of RMB1,567.1 million (US$218.8 million), up from RMB1,541.6 million a year earlier, marking a second consecutive quarter of topline growth as the company’s strategic shift beyond pure live streaming gains traction. Game-related services, advertising and other revenue rose to RMB413.9 million, or 26% of total net revenues, while live streaming revenue was RMB1,153.2 million. The company posted a GAAP net loss attributable to HUYA of RMB5.5 million versus net income of RMB29.6 million in Q2 2024, though non-GAAP net income was RMB47.5 million. Average MAUs reached 161.6 million and gross margin was 13.5%. Management highlighted cost optimization, a US$75.4 million share repurchase to date, and a special dividend of roughly US$340 million during the quarter.
- Total net revenues grew to RMB1,567.1 million with game-related services, advertising and other revenue up sharply to RMB413.9 million, now 26% of the mix.
- GAAP net loss attributable to HUYA was RMB5.5 million while non-GAAP net income was RMB47.5 million; non-GAAP net income per ADS was RMB0.21.
- Average MAUs were 161.6 million as Huya expanded its cross-platform game-related entertainment and services model.
- Live streaming revenue was RMB1,153.2 million, continuing to stabilize as diversified revenue streams offset macro and industry headwinds.
- The company repurchased ADSs totaling US$75.4 million under its buyback program and paid a special dividend of about US$340 million in the quarter.
Headline financials
Revenue & EPS history
HUYA · Revenue · Quarterly
¥1.57B
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
-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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