DouYu International Holdings Ltd. (DOYU), a prominent live streaming platform focused on gaming in China, disclosed its financial results for the second quarter, revealing a net loss of RMB49.2 million ($6.8 million). This marks a significant shift from the previous year's net income of RMB6.8 million.
The net loss per American Depositary Share (ADS) for the second quarter stood at RMB1.58 ($0.22), contrasted with a profit of RMB0.21 in the prior year.
On an adjusted basis, the company reported a net loss of RMB45.5 million ($6.3 million), compared to an adjusted net income of RMB61.4 million for the same quarter in 2023.
The adjusted net loss per ADS was RMB1.46 ($0.20), a notable downturn from last year's profit of RMB1.92.
Total net revenues for the second quarter experienced a 25.9% decline, falling to RMB1.03 billion ($142.0 million) from RMB1.39 billion a year ago.
The platform's average monthly active users (MAUs) on mobile devices fell to 44.1 million from 50.3 million the previous year.
Additionally, the number of average paying users per quarter decreased to 3.4 million, compared to 4.0 million in the same period of 2023.
