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HUYA

HUYA Inc.

HUYA

HUYA Inc. • NYSE
$2.85 ▲ 0.00% (+0.00)
Market Cap $652.73 M
52w High $4.59
52w Low $2.21
Dividend Yield 1.47%
P/E -28.5
Volume 722.19K
Outstanding Shares 229.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.688B ▲ $240.924M ▲ $9.556M ▲ 0.566% ▲ $0.04 ▲ $10.064M ▲
Q2-2025 $1.567B ▲ $236.021M ▼ $-5.491M ▼ -0.35% ▼ $-0.024 ▼ $-4.578M ▲
Q1-2025 $1.509B ▲ $248.131M ▼ $927K ▲ 0.061% ▲ $0.004 ▲ $-40.523M ▲
Q4-2024 $1.496B ▼ $263.155M ▲ $-172.203M ▼ -11.512% ▼ $-0.75 ▼ $-67.411M ▼
Q3-2024 $1.538B $235.905M $23.613M 1.536% $0.1 $-7.05M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.768B ▲ $6.836B ▲ $1.782B ▲ $5.054B ▲
Q2-2025 $3.506B ▼ $6.648B ▼ $1.602B ▼ $5.045B ▼
Q1-2025 $5.265B ▲ $9.216B ▼ $4.055B ▲ $5.161B ▼
Q4-2024 $5.264B ▼ $9.568B ▼ $2.017B ▼ $7.551B ▼
Q3-2024 $6.568B $11.324B $3.699B $7.625B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-5.491M ▼ $0 $0 $0 $0 $0
Q1-2025 $927K ▲ $0 $0 $0 $0 $0
Q4-2024 $-172.203M ▼ $0 $0 $0 $0 $0
Q3-2024 $23.613M ▼ $0 $0 $0 $0 $0
Q2-2024 $29.602M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement HUYA’s income statement shows a company in transition. Revenue has been shrinking for several years as the core live‑streaming business matures and faces more competition and regulation. At the same time, profitability has moved from clearly positive a few years ago to losses, with one especially weak year in the middle of this period. The more encouraging sign is that losses have been narrowing recently. Gross profit has stabilized at a lower level, and operating and net losses are now much smaller than during the worst year. This suggests management has been cutting costs and reshaping the business, but the company is still working to rebuild profitable growth rather than just stabilizing decline.

Balance Sheet

Balance Sheet The balance sheet is a relative strength. HUYA still carries very little debt and is essentially unlevered, which gives it flexibility and lowers financial risk. Shareholders’ equity remains solid, even though it has drifted down from earlier peaks as the company absorbed losses and returned capital. Cash levels today are clearly lower than a few years ago, but they have started to recover from their recent low, helped by tighter cost control. Overall, HUYA looks financially conservative: it does not rely heavily on borrowing, and it still has a meaningful cushion to support its strategic pivot, though not as much excess cash as in the past.

Cash Flow

Cash Flow Cash flow tells a similar “down then healing” story. A few years ago, HUYA generated healthy cash from operations. That flipped to a very weak year with large cash outflows as revenue dropped and costs did not adjust quickly enough. Since then, operating cash flow has moved from clearly negative to roughly breakeven to modestly positive, while free cash flow has improved from deeply negative to only slightly in the red. The business is not yet a consistent cash generator again, but the direction is improving, showing that the restructuring and spending discipline are having an effect.

Competitive Edge

Competitive Edge HUYA still holds a notable position in China’s game live‑streaming and e‑sports ecosystem, but the nature of that position is changing. Its key advantages are its focus on e‑sports, exclusive rights to marquee tournaments such as China’s top League of Legends league, and the backing and integration possibilities with Tencent, the leading game publisher in China. These strengths create strong network effects: popular games and tournaments attract viewers, which attract streamers, which in turn attract more viewers. However, HUYA faces pressure from short‑video platforms, competing streaming sites, regulatory scrutiny, and a maturing domestic market. Its shift toward broader game‑related services and international expansion via Nimo TV is meant to offset these headwinds, but those newer areas are still being proven out.

Innovation and R&D

Innovation and R&D HUYA is trying to reinvent itself as a technology‑driven game entertainment platform rather than just a live‑streaming site. A central theme is its push into artificial intelligence: tools like its AI e‑sports commentator aim to make streams more engaging, automate highlight creation, and cut operating costs behind the scenes. Beyond AI, HUYA is investing in game‑related services such as publishing and in‑game item sales, including its co‑publishing role for the mobile version of “Goose Goose Duck” in China. It is also broadening content beyond pure gaming and expanding internationally. These moves could open new revenue streams and lift margins over time, but they also carry execution risk, as HUYA is competing with established players in game publishing and global streaming.

Summary

HUYA today is a turnaround and transformation story rather than a straightforward growth story. Financially, revenue has been shrinking and profits have moved from solidly positive to loss‑making, but the depth of the losses and the cash outflows have eased as management cuts costs and reshapes the business. The balance sheet is conservative, with low debt and a still‑meaningful cash position, giving the company room to pursue its strategy. Strategically, HUYA is leaning on its Tencent partnership, exclusive e‑sports content, and large user base while pushing into AI‑powered features, game publishing, and international markets. These initiatives could gradually shift the business mix from low‑margin, heavily regulated live streaming to higher‑value game services, though the outcome is uncertain and will likely take time. Overall, HUYA appears to be in the middle of a difficult but deliberate pivot: moving away from dependence on virtual gifts in a crowded streaming market and toward a broader game‑centric ecosystem, with improving but not yet fully repaired financial performance.

NEWS

November 12, 2025 · 3:30 AM UTC

HUYA Inc. Reports Third Quarter 2025 Unaudited Financial Results

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October 22, 2025 · 6:00 AM UTC

HUYA Inc. to Report Third Quarter 2025 Financial Results on Wednesday, November 12, 2025

Read more