FX.co ★ DouYu Posts Loss In Q1; Total Net Revenues Down 29.9%

In the first quarter, DouYu International (DOYU) reported a net loss of RMB 88.0 million, a stark contrast to the net income of RMB 14.5 million in the same period in 2023. This resulted in a net loss per ADS of RMB 2.77, compared to a profit of RMB 0.45. On an adjusted basis, the net loss was RMB 85.7 million, down from an adjusted net income of RMB 25.8 million. Adjusted net loss per ADS stood at RMB 2.69, whereas it was a profit of RMB 0.80 previously.

Total net revenues for the first quarter came in at RMB 1.04 billion, down from RMB 1.48 billion in the same quarter of the previous year. Livestreaming revenues saw a decline of 41.5%, amounting to RMB 800.9 million. The average mobile Monthly Active Users (MAUs) for Q1 2024 were reported at 45.3 million, compared to 50.2 million during the same period in 2023.