Chinese live-streaming platform Huya has shown continued growth in the last year, further supported by a profitable Q2.
The platform's Q2 report, released on Tuesday, cited a 93.6 per cent increase in total revenue. Earnings year-on-year were up to ¥2.01B ($293M) from ¥1.04B in Q2 2018.
Huya also noted a 57.3 per cent rise in monthly active users YoY, with over 143.9m users checking in each month. 55.9m of those users are mobile-based. It also saw a 46.7 YoY increase in paying users.
“During the second quarter, we strategically upgraded our monetization tactics for sustainable longer-term growth. Despite the seasonal impact, Huya still achieved fast growth in both traffic and revenue” said Huya CFO Henry Sha in a statement.
“Our revenue growth once again exceeded the high end of management guidance range. We are also delighted to achieve better-than-expected profitability in the second quarter amid increased spending in content and marketing, both domestically and globally.”
96 per cent of the total ¥1.9B ($280M) generated is attributed to Huya's paying users. The company also drew attention to the success of its mobile esports tournaments during its earnings call on Tuesday.
The Huya Mobile Game Arena creates esports competitions for a number of mobile titles, including CrossFire Mobile and Honor of Kings. The tournaments saw a combined viewership of over 72 million during Q2 2019. This number was an increase on the 51 million views accrued by esports events during Q1 and Q2 last year.
Last year, Huya raised $180 million after successfully launching its initial public offering on the New York Stock Exchange.