HUYA Inc. (HUYA) Q3 2020 Earnings Call Transcript

HUYA Inc. (NYSE: HUYA) Q3 2020 earnings call dated Nov. 11, 2020



Hello, ladies and gentlemen, thank you for standing by for the 2020 Third Quarter Earnings Conference Call for HUYA Inc. [Operator Instructions] Today’s conference call is being recorded.

I will now turn the call over to Ms. Dana Cheng, Company Investor Relations. Please go ahead.

Dana Cheng — Investor Relations

Hello, everyone, and welcome to Huya’s 2020 third quarter earnings conference call. 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 A replay of the call will be available on the IR website in a few hours.

Participants on today’s call will be Mr. Rongjie Dong, Chief Executive Officer of Huya; and Ms. Catherine Liu, Chief Financial Officer. 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 results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the Company’s prospectus and other public filings as filed with the US SEC. The Company does not assume any obligation to update any forward-looking statements, except as required under applicable laws.

So, please also note that Huya’s earnings press release and this conference call include discussions of unaudited GAAP financial information, as well as unaudited non-GAAP financial measures. Huya’s press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures.

I will now turn the call over to our CEO, Mr. Rongjie Dong. Please go ahead.

Rongjie Dong — Director, Chief Executive Officer

Hello, everyone. Thank you for joining our conference call today. We achieved solid results this quarter and excitingly, the investments we have made in content, products and services are continuing to drive the growth [Indecipherable] and user communities.

In Q3, our total revenues grew by 24% year-over-year to RMB2.8 billion, while our gross profit increased by 53% year-over-year to RMB621 million, keeping us in a strong position to fund our future growth and capture some opportunities ahead. Despite our relatively shorter summer occasion period due to the impact of COVID-19 in China, the average MAUs of Huya Live still grew to 173 million in Q3, and net addition of over 4 million from last quarter and up 18% year-over-year. Additionally, on average over 25 million users…

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