DouYu International Holdings Ltd (NASDAQ:DOYU) fell 11% after announcing its unaudited Q2 2021 financial results for the period ending June 30, 2021. The company reported net revenues of $361.9 million (RMB2, 336.8 million) compared to RMB2, 508.2 million a year ago.Gross profit was $47.5 million, with the net loss being $28.1 million.
In addition, the company reported a 3.9% YoY growth in average mobile monthly active users to 60.7 million, with a quarterly number of average paying users being 7.2 million compared to 7.6 million a year ago.
CEO Shaojie Chen stated that in Q2, the company’s main metric, average mobile MAUs, continued to grow steadily and increased 3.9%to 60.7 million YoY. He added that the company continues to expand its downstream and upstream ecosystem content to cover every value chain link in the fame industry. In addition, DouYu will continue bolstering its industry leadership via the execution of video, Livestream, community, and content strategies to explore new methods of enhancing monetization capabilities. So in the coming months, DOYU is a stock to watch.
Market Reaction:
On Monday, DOYU stock fell 11% at $3.07 with more than 9.19 million shares, compared to its average volume of 5.05 million shares. The stock has moved within a range of $3.0600 – 3.3900 after opening the trade at $3.35.
