- DouYu International Holdings Ltd DOYU reported a second-quarter FY21 revenue decline of 6.8% to $361.9 million year-on-year, marginally above the analyst consensus of $361.6 million.
- Contrastingly, Netflix Inc's (NASDAQ: NFLX) Q2 revenue grew 19% Y/Y to $7.34 billion, above the analyst consensus of $7.32 billion.
- Segments: DouYu's Live streaming revenue decreased by 6.1% Y/Y to $337.3 million due to reduced user time following pandemic recovery and less stay-at-home time.
- Advertising and other revenues declined 15.7% Y/Y to $24.6 million as the game advertisers normalized their marketing expenditures from high 2020 pandemic highs.
- Margin: The gross margin contracted 770 bps to 13.1% due to higher content costs and revenue decline.
- Adjusted loss per ADS of $(0.05) was at par with the analyst consensus. Netflix's EPS of $2.97 missed the analyst consensus of $3.15.
- DouYu held $1 billion in cash and equivalents.
- Drivers: DouYu's quarterly average mobile MAUs rose 3.9% Y/Y to 60.7 million. The quarterly average paying user count decreased 5.3% Y/Y to 7.2 million.
- Interestingly, Netflix's added 1.54 million paid subscribers in the quarter and ended Q2 with 209 million paid subscribers. The APAC region accounted for two-thirds of its global paid net additions.
- DouYu plans to continue expanding its content ecosystem to cover every link of the game industry value chain bolster its position through the continuous execution of live streaming, video, content, and community strategies.
- Price Action: DOYU shares traded higher by 1.45% at $3.50 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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