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Douyu Reports Strong Growth in First Financial Report Since IPO

By Zhao Runhua / Aug 14, 2019 04:47 AM / Business & Tech

Photo: VCG

Photo: VCG

Nasdaq-listed Chinese livestreaming company Douyu posted a 133% jump in revenue for the three months ended June 30 in its first financial report since going public in July.

Revenue surged to 1.87 billion yuan ($272.8 million) in the quarter, based on unaudited results made available Tuesday. Douyu booked a net profit of 23.2 million yuan, compared with net loss of 228.7 million yuan a year earlier.

Douyu attributed the results mainly to an increase in livestreaming revenue, which is calculated somewhat opaquely based on the company’s total paying users and the average revenue extracted from each of them. Livestreaming revenue increased 156% during the period to 1.7 billion yuan, Douyu said.

The company’s average monthly users in the second quarter were 162.8 million, and mobile monthly active users 50.6 million, Douyu said.

Douyu CEO Chen Shaojie said the company will continue to focus on game-centric content and improving the commercial performance of other content categories. The company projected that total revenue will reach 2 billion yuan in the next quarter, according to the release.

Related: Update: Slowing Market, Livestreaming Rivals Dampen Douyu’s Wall Street Debut

Contact reporter Zhao Runhua (runhuazhao@caixin.com)

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