DouYu Beats Q4 Projections Despite Drop in Livestreaming, Advertising Revenues Skyrocket

Zinger Key Points
  • DouYu beats Q4 revenue expectations with $182.5M, despite a 22.9% Y/Y drop.
  • Livestreaming down 36.1% Y/Y, but advertising revenue jumps 226.5%.

DouYu International Holdings Limited (NASDAQ: DOYU) reported a fourth-quarter fiscal 2023 revenue decline of 22.9% to $182.5 million year-on-year, beating the consensus of $170.9 million.

The Chinese game-centric live streaming platform’s adjusted earnings per ADS loss of $(0.00) beat the consensus loss of $(0.02). The stock price declined after the results.

Segments: DouYu’s Livestreaming revenues decreased by 36.1% Y/Y to $143.8 million due to the soft macroeconomic environment.

Advertising and other revenues increased by 226.5% Y/Y to $38.8 million, primarily attributable to the increase in other revenues contributed by other innovative business.

Gross margin declined from 11.1% to 9.7% Y/Y. DouYu held $965.6 million in cash and equivalents as of December 31, 2023.

Drivers: DouYu’s quarterly average mobile MAUs fell to 51.7 million, down from 57.4 million a year ago. The quarterly average paying user count decreased to 3.7 million from 5.6 million a year ago.

The stock lost 28% in value in the last 12 months. Investors can gain exposure to the stock via Vanguard FTSE Emerging Markets ETF VWO and Vanguard Total International Stock ETF VXUS.

Price Action: DOYU shares traded lower by 2.36% at $0.77 premarket on the last check Tuesday.

Photo via Wikimedia Commons

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsBriefsStories That Matterwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!