HUYA beats analyst estimates with $208.31M revenue in Q1 2024. Adjusted earnings per ADS was $0.05. Live streaming revenue declined, while game-related services and advertising revenue grew 137.6% Y/Y. Gross margin at 14.7%. Cash and equivalents at $1.30B.
Key Takeaways:
CMGE said it has formed a partnership with Guangzhou Chaojing Investment aimed at tapping the latter’s strong position in e-sports
CMGE’s shares rose 3.2% on the news and have rallied 30% in the past week on renewed investors interest in the gaming sector after a prolonged crackdown that is now easing
U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Monday.
Shares of Archer-Daniels-Midland Company (NYSE: ADM) fell sharply in today’s pre-market trading after the company named Ismael Roig as Interim Chief Financial Officer.
Key Takeaways:
Joyy’s $3.6 billion sale of its China livestreaming business to Baidu has collapsed, more than three years after the deal was first announced
Joyy stopped including the China livestreaming business in its financial results as early as 2021, and was recasting itself as a Singapore-based livestreaming company