Douyu's net profit of Q2 in 2023 increased 161% to 61.4 million yuan compared with the same period last year, and advertising and other income doubled.

CTOnews.com news on August 14, Douyu today released his unaudited financial report for the second quarter of 2023. Douyu's average mobile MAU grew to 50.3 million month-on-month in the second quarter, with 4 million paying users.

Douyu's total net income in the second quarter was 1.3922 billion yuan, down 24.1% from 1.8332 billion yuan in the same period in 2022. Douyu's gross profit was 189 million yuan, corresponding to a gross profit margin of 13.6%. Under non-US general accounting standards, net profit increased to 61.4 million yuan, a sharp increase of 161% compared with the same period last year.

CTOnews.com summarizes the details of Douyu's Q2 financial report in 2023:

Revenue from live streaming services was 1.2583 billion yuan, down 28.8 percent from 1.7683 billion yuan in the same period in 2022.

Advertising and other revenue was 133.9 million yuan, an increase of 106.5 percent compared with 64.9 million yuan in the same period in 2022.

Revenue cost was 1.2033 billion yuan, down 21.1% compared with 1.5242 billion yuan in the same period in 2022.

Revenue sharing fees and content costs were 981.3 million yuan, down 25.4 percent from 1.3147 billion yuan in the same period in 2022.

The cost of bandwidth was 118.8 million yuan, down 17.3% from 143.7 million yuan in the same period in 2022.

The gross profit was 188.9 million yuan, compared with 309 million yuan in the same period in 2022. The gross profit margin was 13.6%, compared with 16.9% for the same period in 2022.

Sales and marketing expenses were 87 million yuan, down 48.0% from 167.5 million yuan in the same period in 2022.

Research and development expenditure was 71 million yuan, down 30.2% compared with 101.9 million yuan in the same period in 2022.

General and administrative expenses were 46.9 million yuan, a decrease of 48.2% compared with 90.7 million yuan in the same period in 2022.

Other operating income was 8.6 million yuan, compared with 20.4 million yuan in the same period in 2022.

The operating loss was 7.5 million yuan, compared with 30.6 million yuan in the same period in 2022.

According to the financial report, as of June 30, 2023, Douyu had cash equivalents, restricted cash and short-term and long-term bank term deposits of 7.056 billion yuan.