Huya Reports Q4 Revenue of $248.6M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
0mins
Reports Q4 revenue $248.6M vs. $204.9M last year. Average MAUs for the fourth quarter of 2025 was 160M. Junhong Huang, acting co-CEO and senior VP of Huya, commented, "In 2025, we made meaningful progress in our evolution into a comprehensive game-related services provider. Our total net revenues for 2025 rebounded to RMB6.5 billion, up 7.0% year-over-year. Notably, our fourth quarter total net revenues reached RMB1.74 billion, with year-over-year growth accelerating to 16.2%. This performance was primarily driven by our business diversification efforts, as game-related services, advertising, and other revenues surged 59.4% year-over-year and accounted for over 30% of total net revenues, which is now the second quarter since we first hit this milestone."
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Analyst Views on HUYA
Wall Street analysts forecast HUYA stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 2.410
Low
3.50
Averages
3.50
High
3.50
Current: 2.410
Low
3.50
Averages
3.50
High
3.50
About HUYA
HUYA Inc is a China-based holding company principally engaged in the operation of game live streaming platforms. The Company cooperates with e-sports event organizers, game developers and publishers to develop e-sports live streaming. Its game contents include gameplay, e-sports tournament events and other e-sports game shows. The Company also offers non-game entertainment content, such as talent shows, anime and outdoor activities. The Company’s platforms include its Huya Live mobile application (app), website www.huya.com, and personal computer (PC) clients. It also develops and operates certain mobile games jointly with third-party distribution platforms, and game-related apps. The Company has also created an interactive online community in which a range of functions are provided for the users, including bullet chatting, real-time commenting and gifting. The Company conducts its businesses in domestic market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Huya Exclusively Publishes 'The Legend of Swordman: Reunion'
- Exclusive Game Release: Huya has announced the exclusive publication of the MMORPG title 'The Legend of Swordman: Reunion' in mainland China, with pre-registration now open, which is expected to attract significant player interest given the franchise's rich legacy spanning over two decades.
- Cross-Platform Experience: The new game introduces a synchronized account data and gameplay experience across mobile apps, PCs, and mini-programs, enhancing user engagement and expanding Huya's user base, thereby solidifying its market position.
- Marketing Strategy: Huya will support the game's launch with a variety of content-driven marketing initiatives, streamer promotions, and community engagement activities, which are anticipated to boost brand awareness and enhance user participation through a comprehensive promotional approach.
- Strategic Expansion Plans: Looking ahead, Huya plans to add titles across multiple genres to its pipeline and strengthen its game-related services business through deeper collaboration with industry partners, demonstrating its long-term growth potential in the gaming market.
See More
Huya Exclusively Publishes The Legend of Swordman: Reunion
- Exclusive Game Release: Huya Inc. announces the exclusive publication of the MMORPG title The Legend of Swordman: Reunion in mainland China, with pre-registration now open, which is expected to attract significant player interest and further solidify Huya's leadership in the gaming market.
- Cross-Platform Experience: The new game offers a cross-platform experience featuring synchronized account data and gameplay across mobile apps, PCs, and mini-programs, allowing players to switch devices seamlessly, enhancing user experience and expanding the potential user base, thereby strengthening Huya's market competitiveness.
- Marketing Strategy: Huya will support the game's launch with content-driven marketing initiatives, streamer promotions, and community engagement activities, which will help boost brand awareness and user engagement, ultimately driving growth in game-related services.
- Future Development Plans: Huya plans to add titles across multiple genres to its pipeline and strengthen its game-related services business through deeper collaboration with industry partners, demonstrating the company's strategic commitment to continuously expanding its content ecosystem.
See More
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- Market Valuation Reflection: Acting CEO Junhong Huang stated that the current market valuation does not fully reflect the company's progress in expanding its game-related services ecosystem, improving revenue structure, and increasing operational efficiency, indicating potential for future growth.
- Repurchase Flexibility: The company noted that future repurchases will depend on market conditions and other factors, with the timing, frequency, and volume of buybacks at its discretion, allowing for adaptability to market fluctuations.
- New Product Launch: HUYA plans to launch a WeChat mini-game this summer while projecting a non-GAAP operating margin approaching breakeven in Q3 2026, demonstrating the company's proactive approach in new business areas.
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- Repurchase Program Initiated: HUYA Inc. has launched a share repurchase program authorized by its board on March 18, 2026, allowing for up to $50 million in repurchases over a 24-month period, reflecting the company's confidence in its long-term prospects.
- Market Valuation Reflection: Acting CEO Junhong Huang stated that the current market valuation does not fully capture the progress made in expanding the game-related services ecosystem and improving revenue structure, indicating a commitment to disciplined capital allocation.
- Flexible Repurchase Strategy: The company will evaluate the timing, frequency, and volume of share repurchases based on market conditions, ensuring that repurchase activities align with market conditions and applicable laws to sustainably create value for shareholders.
- Strengthening Industry Position: As a leading provider of game-related entertainment and services, HUYA is dedicated to meeting the needs of global gaming enthusiasts through dynamic live streaming and video content, further solidifying its competitive position in the industry.
See More
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- Outstanding Game Services Performance: Game-related services, advertising, and other revenues reached RMB 627 million, up 69% year-over-year, accounting for 36% of total net revenues, which highlights the company's expanding market share in the gaming sector and enhances its competitive edge.
- User Base Expansion: HUYA's estimated reach across external platforms doubled to over 200 million users, establishing itself as the largest gaming MCN on WeChat, further solidifying its influence on social media platforms and indicating potential for future user growth.
- Improved Profitability: Despite a decline in interest income, HUYA achieved a non-GAAP net income of RMB 21 million for Q1, with gross margin rising to 14.6%, demonstrating effective strategies in cost management and revenue mix optimization, with expectations for continued improvement in Q3.
See More
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- Exclusive Game Release: Huya has announced the exclusive publication of the MMORPG title 'The Legend of Swordman: Reunion' in mainland China, with pre-registration now open, which is expected to attract significant player interest given the franchise's rich legacy spanning over two decades.
- Cross-Platform Experience: The new game introduces a synchronized account data and gameplay experience across mobile apps, PCs, and mini-programs, enhancing user engagement and expanding Huya's user base, thereby solidifying its market position.
- Marketing Strategy: Huya will support the game's launch with a variety of content-driven marketing initiatives, streamer promotions, and community engagement activities, which are anticipated to boost brand awareness and enhance user participation through a comprehensive promotional approach.
- Strategic Expansion Plans: Looking ahead, Huya plans to add titles across multiple genres to its pipeline and strengthen its game-related services business through deeper collaboration with industry partners, demonstrating its long-term growth potential in the gaming market.
See More
Huya Exclusively Publishes The Legend of Swordman: Reunion
- Exclusive Game Release: Huya Inc. announces the exclusive publication of the MMORPG title The Legend of Swordman: Reunion in mainland China, with pre-registration now open, which is expected to attract significant player interest and further solidify Huya's leadership in the gaming market.
- Cross-Platform Experience: The new game offers a cross-platform experience featuring synchronized account data and gameplay across mobile apps, PCs, and mini-programs, allowing players to switch devices seamlessly, enhancing user experience and expanding the potential user base, thereby strengthening Huya's market competitiveness.
- Marketing Strategy: Huya will support the game's launch with content-driven marketing initiatives, streamer promotions, and community engagement activities, which will help boost brand awareness and user engagement, ultimately driving growth in game-related services.
- Future Development Plans: Huya plans to add titles across multiple genres to its pipeline and strengthen its game-related services business through deeper collaboration with industry partners, demonstrating the company's strategic commitment to continuously expanding its content ecosystem.
See More
HUYA (HUYA) Q1 2026 Earnings Transcript
See More
HUYA Continues $50 Million Share Repurchase Program
- Repurchase Program Continuation: HUYA announced it will continue its 2026 share repurchase program, aiming to buy back up to $50 million of American depositary shares and ordinary shares by March 18, 2028, reflecting the company's confidence in its valuation.
- Market Valuation Reflection: Acting CEO Junhong Huang stated that the current market valuation does not fully reflect the company's progress in expanding its game-related services ecosystem, improving revenue structure, and increasing operational efficiency, indicating potential for future growth.
- Repurchase Flexibility: The company noted that future repurchases will depend on market conditions and other factors, with the timing, frequency, and volume of buybacks at its discretion, allowing for adaptability to market fluctuations.
- New Product Launch: HUYA plans to launch a WeChat mini-game this summer while projecting a non-GAAP operating margin approaching breakeven in Q3 2026, demonstrating the company's proactive approach in new business areas.
See More
HUYA Inc. Launches $50 Million Share Repurchase Program
- Repurchase Program Initiated: HUYA Inc. has launched a share repurchase program authorized by its board on March 18, 2026, allowing for up to $50 million in repurchases over a 24-month period, reflecting the company's confidence in its long-term prospects.
- Market Valuation Reflection: Acting CEO Junhong Huang stated that the current market valuation does not fully capture the progress made in expanding the game-related services ecosystem and improving revenue structure, indicating a commitment to disciplined capital allocation.
- Flexible Repurchase Strategy: The company will evaluate the timing, frequency, and volume of share repurchases based on market conditions, ensuring that repurchase activities align with market conditions and applicable laws to sustainably create value for shareholders.
- Strengthening Industry Position: As a leading provider of game-related entertainment and services, HUYA is dedicated to meeting the needs of global gaming enthusiasts through dynamic live streaming and video content, further solidifying its competitive position in the industry.
See More
HUYA Inc. Q1 2026 Earnings Call Insights
- Significant Revenue Growth: HUYA Inc. reported total net revenues of RMB 1.73 billion for Q1 2026, reflecting a 15% year-over-year increase, primarily driven by strong growth in game-related services and advertising, indicating successful diversification of revenue streams.
- Outstanding Game Services Performance: Game-related services, advertising, and other revenues reached RMB 627 million, up 69% year-over-year, accounting for 36% of total net revenues, which highlights the company's expanding market share in the gaming sector and enhances its competitive edge.
- User Base Expansion: HUYA's estimated reach across external platforms doubled to over 200 million users, establishing itself as the largest gaming MCN on WeChat, further solidifying its influence on social media platforms and indicating potential for future user growth.
- Improved Profitability: Despite a decline in interest income, HUYA achieved a non-GAAP net income of RMB 21 million for Q1, with gross margin rising to 14.6%, demonstrating effective strategies in cost management and revenue mix optimization, with expectations for continued improvement in Q3.
See More
