DouYu Swings To Profit In Q2

(RTTNews) - Chinese game-centric live streaming platform DouYu International Holdings Ltd. (DOYU) Monday reported earnings in the second quarter compared to loss for the same period prior year. However, revenue decreased by 24.1 percent.

Quarterly net earnings were RMB 6.8 million or $0.9 million, compared with loss of RMB 38.8 million or $5.8 million of last year.

Earnings per ADS was RMB 0.02 compared to loss of RMB 0.10 or $0.01 of the prior year.

Adjusted earnings were RMB 61.4 million or $8.5 million, compared to prior year's earnings of RMB 23.5 million or a loss of $3.5 million.

Adjusted earnings per ADS was RMB 0.19 or $0.03, compared to loss of RMB 0.10 or $0.01 for the same period last year.

Revenues, however, decreased to RMB 1.392 billion or $192 million from RMB 1.833 billion or $273.7 million last year.

On average, four analysts polled by Thomson Reuters expected the company to report revenue of $184.12 million for the quarter. Analysts' estimates typically exclude one-time items.

In premarket activity, shares of DouYu are trading at $1.06, up 0.95% on Nasdaq.