Home Trending Stocks Douyu International Holdings Inc. (DOYU) stock plunge during pre-market. Here’s to know...

Douyu International Holdings Inc. (DOYU) stock plunge during pre-market. Here’s to know why?

Douyu International Holdings Inc. (NASDAQ: DOYU) stock gained by 0.38% at the last close while the DOYU stock price declines by 2.41% during the pre-market trading session after DOYU released its first-quarter 2021 financial results. DouYu International Holdings, based in Wuhan, China, is a leader in the eSports value chain and a major game-centric live streaming network in China. Users can experience immersive and engaging gaming and entertainment live streaming through DouYu’s website, which is available for both PC and smartphone applications.

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Financial Highlights

DOYU has reported its first-quarter 2021 financial results today. Given below is the summary.

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  • In the first quarter of 2021, gross net sales were RMB2,152.7 million (US$328.6 million), up from RMB2,278.0 million in the same timeframe in 2020.
  • The first quarter of 2021 saw a gross profit of RMB260.2 million, relative to RMB485.9 million in the same timeframe of 2020, meaning a gross margin of 12.1 percent.
  • In the first quarter of 2021, DOYU lost RMB101.8 million (US$15.5 million), relative to RMB254.5 million in the same quarter of 2020.
  • In the first quarter of 2021, the adjusted net loss was RMB70.7 million (US$10.8 million), relative to RMB296.9 million in the same timeframe in 2020.
  • MAUs rose by 21.3 percent to 191.9 million in the first quarter of 2021, compared to 158.1 million in the same timeframe of 2020.
  • In the first quarter of 2021, average smartphone MAUs rose by 4.5 percent to 59.1 million, up from 56.6 million in the same timeframe of 2020.
  • In the first quarter of 2021, the average number of paid users was 7.0 million, compared to 7.6 million in the same timeframe in 2020.

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Mr. Shaojie Chen, CEO of DouYu, commented:

DOYU is pleased to report that, while continuing to update their operating infrastructure, they sustained steady operational progress in the first quarter of 2021. Their global average MAUs increased by 21.3 percent year over year to 191.9 million, while the mobile MAUs increased by 4.5 percent to 59.1 million. They’re committed to build a diversified and industry-leading game-centric integrated ecosystem by constantly expanding their content collection and diversifying their live streaming, recording, and community content offerings.

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