HUYA Inc. Q3 2025 Earnings Recap

Huya delivered a robust Q3 with total net revenues reaching RMB 1.7 billion, marking a 10% year-over-year growth and a return to profitability in live streaming.

Key Takeaways

• Total net revenues accelerated to RMB 1.7 billion, the highest in nine quarters, highlighting strong performance in game-related services and advertising.
• Non-GAAP operating profit improved significantly to RMB 6.3 million, reflecting operational efficiency and growing margins.
• In-game item sales surged over 200% year-over-year, driven by successful partnerships and enhanced content marketing strategies.
• Live streaming revenues grew 3% year-over-year, their first positive growth since Q3 2021, bolstered by a diverse content offering and e-sports events.
• The pre-registration for the company’s upcoming title, Goose Goose Duck Mobile, surpassed 10 million, signaling strong market interest as Huya pivots toward game publishing.