DOYU - Earnings call transcript Q3 2024 | DouYu International Holdings Limited

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Operator

Good morning, and good evening, ladies and gentlemen. Thank you, and welcome to DouYu International Holdings Limited's Third Quarter 2024 Earnings Conference Call. [Operator Instructions] I would now turn the conference over to the first speaker today, Ms. Lingling Kong, IR Director at DouYu. Please go ahead.

Lingling Kong

you. Thank everyone. Hello, third our earnings call. Welcome quarter to XXXX

Committee. Su, us of Mr. Officer; are Interim Finance; Mingming today Mr. Chief Management from Hao President Ms. Ren, Strategy Simin Joining and Vice Cao, Vice President

on You can refer website our third ir.douyu.com. our financial quarter at IR XXXX to results

it our You IR check when of a in this replay also available few website. can call a becomes hours on

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Hao Cao

Thank you, Lingling. everyone. Hello,

have strengthening measures quarter, we promising new with revenue cost streams efforts environment, challenging control and strategy. diversification growth macroeconomic in our Despite revenue a our a our long-term line development on shown focused trajectory. already tightening This

Let's closer quarter. the for at look third performance take our financial a

revenues third quarter billion. Our XX.X% by X.XX total decreased in RMB to net year-over-year the

and period RMB back were spending business, continued from past XX.X% in by a of user we and paying streaming our live Prolonged response, revenues. net primarily to more streaming promote revenues, total our revenue product impacted challenges behavior X.XX in billion first RMB X XXXX. paying down same achieved supported increase in to billion, acquisition scale promotions contribution However, the consecutive X.XX provide in our macroeconomic shifts quarters. Live ongoing quarter-over-quarter increased user revenues we existing spending the making affordable growth offerings our innovative X% sequential from users. In from

same As of million ARPU, other our a in which business, social XX.X% RMB and in quarter in networking decreased the These largely quarterly to revenue. was from our there innovative primarily membership were by to XXX billion to innovative Revenue in by year-over-year last same significantly revenues our period increased by to both due RMB and XXXX. billion RMB largely service contributing in sharing continued costs, increase result, a of the reductions XX.X% deductions related live our content increased which segment RMB the enhance year-over-year billion million, and to XXXX the in increased XXX.X decreased sharing growth. the decline X.XX period were efforts compared our were business. of period from total to Innovative cost third RMB decline partially quarter from up delivered voice-based period billion in XX.X% the driven of a from XXXX. our fees of of revenues same in increased sharing total by The revenue the advertising third streaming RMB offset X.XX to XXXX, revenues revenue X XX.X% was by dropped and fees which RMB number from fees game same X.X% XXX RMB decreased revenues, XXX service. Cost business of X.XX paying year. Meanwhile, with users

XX.X initiatives RMB development same decreased XXXX. operations, same of by streamline the revenues our reduced to XX.X to million a were in declined due of live XXX.X compared to decrease of RMB quarter same from the of with decreasing costs primarily million decline reduced XX.X administrative million XXX.X XXXX from down a was RMB margin RMB XXXX. across from million third RMB XX% compared same X.X of third period streamer in period income million the XXXX XXXX In the same period efficiency. XX.X% than period loss, loss of expenses compared RMB XXXX. Loss in and compared net cost our million quarter resulting XXXX. with addition, leading of with million same of RMB same to period and million period RMB XX.X million third was in gain General with strategic improved was income bandwidth of the the XXXX of in same the in third XX.X was in XX.X and XX% the million XXXX. In of the million quarter in third XX.X loss operations expenses the The quarter method million gross due we in Research third XXXX. XXXX. Net the to XX.X costs marketing XX.X% decline controls XXXX equity impairment XXXX payments. Bandwidth Breaking RMB in investment the excludes from the of third year-over-year in million XX decrease further, usage. Gross profit the content total year-over-year by came the in from by faster to XX.X% in adjusted from the the the on reduced quarter RMB X.X of staff-related RMB RMB million period which in to expenses. XX% on expenses expenses in in to XX peak million XXXX, profit RMB RMB in in of sales disposal of Gross was in an third adjustments XX.X quarter in decreased primarily of by value of share XXXX. Adjusted XXXX primarily in and fair RMB gross cost line quarter streaming same operating of board, million the period quarter of XXXX investments, net or income investments, with compared XX.X for RMB period and margin revenues, in this X.X% of was the in with of

diluted the quarter per both were net and income RMB ADS of ADS third For adjusted per X.XX were RMB and basic XXXX, basic while loss diluted X.XX. net both

of allocated cash XX, XXXX. with XX, September USD XXX.X equivalents, and due and As of other the short-term of company special restricted RMB program. as RMB deposits had cash our compared X.XX December The long-term was or bank and assets X.XX million decrease XXX billion of repurchase XX distribution noncurrent and dividend million cash, the share million primarily cash USD USD to to billion restricted XXXX, in cash

on XXXX USD you update for share program of the to end announced we like share our to At up repurchase last year, our XX would million. I Finally, repurchase program.

XXXX, As program. under XX, of program, of an repurchasing we in USD aggregate XX the completed September ADS million this have

ahead, a are to with navigating business and challenges Looking resilience shifting agility. we macroeconomic committed and landscape

reinforcing value We will our revenue fundamental to for By our pursuing today. questions. development are prepared strengths, continue we growth our near-term cost delivering of our for ready aim our mitigate drive opportunities now Operator, efficiencies financial and to take use remarks platform support while sharpen sustainable to concludes our we new enduring to focus and growth to pressure. on streams new stakeholders. This

Operator

America. from Lei Instructions] of [Operator Bank comes Our of Zhang question first

Lei Zhang

live growth regarding And look we live change at your strategic any My should future how business and of streaming the here? question mainly streaming business. is

Hao Cao

question. Thank you for your

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Operator

comes Sun question next of The from Ritchie HSBC.

Ritchie Sun

about strategy operations? our detail streamers' and in optimize to goals the structure management achievements? And what Can and as elaborate the well the are as measures cost detailed

Unknown Executive

Thank you, Ritchie.

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Operator

Thomas comes Jefferies. next Chong The from of question

Unknown Analyst

My question margin. GP the is about

So we GP third of in the see margin change quarter.

profit of about for expect XXXX? XXXX? the improvement do the adjustment So And margin think of the and should we also in we whole profit how also operating year with the strategies, profit gross the so

Hao Cao

decrease live quarter, third significantly third the margin year-over-year decline In of revenues. XX.X% XXXX quarter. still mostly as to from content revenue fees Revenue in question. and increased year-over-year gross in costs to a XX.X% quarter this the of percentage was your for streaming the due you Thank in the sharing

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Operator

next question comes Our from of Cheung Instructions] [Operator Nelson Citibank.

Fuk Lung Cheung

domestic game the TV regarding is Wukong. Black question console Myth: My new

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Unknown Executive

question. your for you Thank

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Lingling Kong

on Operator, the are we still line?

Operator

ahead. Please Yes, are connected. go you

Lingling Kong

Yes, continue. please

Unknown Executive

Okay.

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Operator

we over I now closing At no this have remarks. for time, to management turn questions. back will further

Lingling Kong

today. everyone our all Thank We call forward quarter. for with you Thank speaking next look you. joining to

Operator

conference and concluded. Thank disconnect may today's presentation, for Thank you. your has The now you attending lines. you now

DouYu International Holdings Limited (DOYU) 20 Nov 242024 Q3 Earnings call transcript