DouYu Unleashes Fresh $100M Share Buyback

August 30, 2021 5:47 AM | 1 min read |

Chinese game-centric live streaming platform DouYu International Holdings Ltd's DOYU board authorized a share buyback program of up to $100 million of its ordinary shares in the form of ADSs commencing on August 30, 2021.
The company expects to use its existing funds to fund repurchases made under this program.
DouYu, which held $1 billion in cash and equivalents, just marginally beat its Q2 revenue consensus and managed to remain in line with the EPS consensus.
Price Action: DOYU shares traded higher by 1.59% at $3.84 in the premarket session on the last check Monday.