Livestreaming platform Huya saw solid traction in monthly active user (MAU) growth for the fourth quarter and doubled total net revenues for the quarter and full year 2018, according to earnings results released Monday.

The platform, listed on exchanges in both Hong Kong and New York, steadily grew both mobile and total MAUs in the fourth quarter of 2018. Mobile MAUs rose 30.7% year-on-year to 50.7 million and total MAUs grew 34.5% year-on-year to 116.6 million. The number of paying users also increased 73% year-on-year to 4.8 million in the period ended Dec. 31. CEO Rongjie Dong attributed the growth to the platform’s “rich content and differentiated user experience.”

Net revenues surged more than 100% year-on-year to RMB 1.5 billion (around $218.9 million) in the fourth quarter of 2018, driven by the platform’s livestreaming revenues, which jumped 108% to more than RMB 1.4 billion. Cost of revenues, however, doubled year-on-year in the fourth quarter to nearly RMB 1.3 billion, though gross profit kept pace, climbing 120% year-on-year during the same period.

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Tony Xu

Tony Xu is Shanghai-based tech reporter. Connect with him via e-mail: tony.xu@technode.com