DouYu International Holdings Ltd. (DOYU) on Tuesday posted narrower loss in the first quarter, helped by higher innovative business, advertising and other revenues. Quarterly revenues, however, fell 9 percent.
The Chinese game centric live-streaming platform reported first-quarter net loss of RMB 79.6 million or $10.97 million, 9.5 percent lower than the net loss of RMB 87.95 million in the same period last year. On a per ADS basis, loss was RMB 2.64 or $0.36, compared to loss of RMB 2.77 in the prior-year period.
On an adjusted basis, loss came in at RMB 20.88 million or $2.88 million, compared to loss of RMB 85.69 million in the year-ago quarter. On a per ADS basis, adjusted loss was RMB 0.69 or $0.10, compared to adjusted loss of RMB 2.69 in the first quarter of 2024.
According to the company, total net revenues in the first quarter fell 9 percent to RMB 947.1 million or $130.5 million from RMB 1.04 billion in the prior-year period.
The company said that innovative business, advertising and other revenues surged 60.2 percent to RMB 382.6 million in the first quarter from RMB 238.8 million in the same period a year ago, helped by higher revenues from the voice-based social networking service and game membership service.
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