Huya Inc. (NYSE: HUYA) announced its unaudited financial results for the third quarter of 2025 on November 12, 2025. The company reported total revenue of RMB 1.69 billion, marking the highest level in the past nine quarters, with a year-over-year (YoY) growth of approximately 10%.
Live streaming revenue stabilized and rebounded to RMB 1.16 billion, while gaming-related services, advertising, and other businesses maintained rapid growth, surging about 30% YoY to RMB 530 million. This segment now accounts for 31.5% of total revenue. Under Non-GAAP measures, Huya achieved an operating profit of RMB 6.3 million and a net profit attributable to the company of RMB 36.3 million. The platform’s total monthly active users (MAUs) reached 162 million in Q3 2025.
Junhong Huang, Co-CEO and Senior Vice President of Huya, stated, "In Q3 2025, Huya returned to a healthy growth trajectory, with total revenue increasing by around 10% YoY. This positive outcome reflects both the steady recovery of our core live streaming business and the accelerating contributions from gaming-related services, advertising, and other segments."
Highlighting the gaming-related services segment, Huang added, "Revenue from this segment grew about 30% YoY, exceeding 30% of total revenue for the first time. This marks a critical breakthrough since our strategic transformation began two years ago." Notably, Huya saw strong performance in virtual item sales for popular games such as *Honor of Kings*, *Peacekeeper Elite*, *League of Legends*, *Dark Zone Breakout*, and *PUBG Mobile*. By deepening collaborations with domestic and international game developers and expanding its virtual item SKUs, Huya has established this business as a new growth driver.
Peng Lei, Co-CEO and CFO of Huya, commented, "Q3 saw accelerated revenue growth and sustained operational improvements, demonstrating our disciplined execution in diversifying revenue streams and managing costs prudently." The company delivered Non-GAAP operating profit growth both YoY and quarter-over-quarter (QoQ), marking seven consecutive profitable quarters under Non-GAAP measures. "Moving forward, we will continue pursuing opportunities with a balanced approach, prioritizing both growth and profitability to create long-term shareholder value," Lei added.
Huya’s platform ecosystem and user base remained resilient. Total MAUs grew steadily in Q3, while the platform expanded its influence through increased retention of top streamers and a multi-platform strategy, extending its reach to users on platforms like WeChat Channels and Douyin. Huya’s estimated off-platform accessible user base has now surpassed 100 million.
The traffic potential from Huya’s content and streamer ecosystem is fueling growth in virtual item sales and game distribution. Gaming-related services and advertising revenue reached RMB 530 million in Q3, up 30% YoY. Additionally, Huya is set to launch its first self-published game, *Goose Goose Duck* Mobile, which surpassed 10 million pre-registrations during testing. This milestone not only validates Huya’s gaming distribution capabilities but also lays the groundwork for future expansion.
To enhance user experience and ecosystem synergy, Huya introduced product innovations such as a short-video zone and in-game tools. The short-video zone enriches content discovery, while tools like the map navigation feature for *Delta Action* aim to attract hardcore players and bolster monetization opportunities.
In esports, Huya delivered nearly 100 licensed tournaments and 40 self-produced events and PGC programs in Q3. Its coverage of the *League of Legends* World Championship (S15) secured the highest market share in the industry, reinforcing Huya’s leadership in premium esports streaming. The company also expanded its proprietary IPs, such as the *League of Legends Asia Invitational (ASI)*, and launched grassroots initiatives like the *Langya Cup* village esports festival to promote gaming culture and tourism.
Overseas, Huya deepened its focus on key markets by optimizing product experience and content to boost engagement and retention. Partnerships with hit games further diversified monetization avenues, supporting sustainable profitability in international operations.
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