HUYA Inc. (NYSE:HUYA) Q3 2024 Earnings Conference Call November 12, 2024 7:00 AM ET
Company Participants
Hanyu Liu - IR
Junhong Huang - Acting Co-CEO & SVP
Raymond Lei - Co-CEO and CFO
Conference Call Participants
Nelson Cheung - Citi
Thomas Chong - Jefferies
Lei Zhang - Bank of America Merrill Lynch
Cheng Hao Lin - CICC
Hanyu Liu
[Call Starts Abruptly]
…that today's webinar is being recorded. The company's financial and operational results were issued earlier today and are posted online. You can also view the earnings press release by visiting the IR website at ir.huya.com. A replay of the call will be available on the IR website soon.
Participants of management on today's call will be Mr. Junhong Huang, our acting Co-CEO and the Senior Vice President, and Mr. Raymond Peng Lei, our acting Co-CEO and CFO. Management will begin with prepared remarks and the call will conclude with a Q&A session.
Before we continue, please note that today's discussion will contain forward-looking statements made on the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today.
Further information regarding this and other risks and uncertainties is included in the company's prospectus and other public filings as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that Huya's earnings press release and this conference call includes discussions of unaudited, GAAP financial information as well as unaudited, non-GAAP financial measures. Huya's press release contains a reconciliation of the unaudited, non-GAAP measures to the unaudited, most directly comparable GAAP measures.
With that, I'm pleased to turn the call over to our Co-CEO and SVP, Mr. Huang. Please go ahead.
Junhong Huang
Okay. Hello, everyone. Thank you for joining our earnings conference today. We were pleased to make significant strides in developing our game-related services business during the third quarter. Game-related services advertising and other revenues reached a new record high, contributing 26.7% of our total net revenues. To drive this progress, we continue to enhance content and upgrade product features on our platform to improve users' experience while exploring new partnerships and business opportunities to expand our user reach and unlock our growth potential.
Moreover, despite the ongoing challenges in the macroeconomic and industry environment, we maintain a relatively stable year-over-year operating performance and achieve a non-GAAP net income of RMB78 million.