Game live-streaming platform Huya saw surging total revenues and gross profit in the first quarter of 2019, driven primarily by a substantial year-on-year increase in the number of paying users.

Total net revenues increased by 93% year-on-year, reaching RMB 1.63 billion ($243 million). Around 95% of net revenues came from the company’s livestreaming business, which grew by 95.8% year-on-year. According to Huya, the growth was powered primarily by increases in the number of paying users and their average spending.

The number paying users reached 5.4 million, representing a 57.4% year-on-year increase, of which more than 70% are mobile users, CFO Sha Dachuan said. However, they still account for just around 4% of the platform’s average MAUs, which reached 123.8 million in the first quarter of 2019.

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Tony Xu

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