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Huya
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Updated Aug 12, 2026
Huya Q2 2026: Game-related revenue surges 54% YoY as Goose Goose Duck mobile validates content-led publishing pivot
Huya's strategic transformation from pure-play live streaming to a diversified game-related services platform is delivering measurable results: game-related services, advertising and other revenues grew 54.1% year-over-year to RMB 637.9 million in Q2 2026, now representing 36.7% of total net revenues, while operating loss narrowed from RMB 23.7 million to RMB 7.0 million. The structural shift is confirmed by Goose Goose Duck mobile re-entering the Apple App Store Top 5 free games chart in Chinese mainland and two additional titles progressing toward launch. The board's decision to double the 2026 Share Repurchase Program authorization to US$100 million signals management confidence even as live streaming revenue continues its secular decline.
Tone: mixedRevenue
¥6.5B
HUYA 20-F · FY 2025 · CNY
Revenue FY2024
¥6.1B
Founded
2014
Headquarters
Guangzhou, Guangdong, People's Republic of China
Profile
HUYA 20-F Item 4.B · Apr 27, 2026HUYA Inc. is a leading game-related entertainment and services provider in China, operating a live streaming platform focused on games and e-sports under the Huya brand. The company monetizes through virtual item sales, advertising, game distribution, and in-game item sales, serving a community of over 161 million average monthly active users in 2025. It also operates the Nimo TV overseas game live streaming platform and a global mobile application service platform acquired from Tencent in December 2023.
Read filing description ↓ Collapse description ↑
We are a leading game-related entertainment and services provider. We deliver dynamic live streaming and video content and a rich array of services spanning games, e-sports, and other interactive entertainment genres to a large, highly engaged community of game enthusiasts. We have cultivated a robust entertainment ecosystem powered by AI and other advanced technologies, serving users and partners across the gaming universe, including game companies, e-sports tournament organizers, broadcasters and talent agencies. Leveraging this strong foundation, we have also expanded into innovative game-related services, such as game distribution, in-game item sales, advertising and more. We continue to extend our footprint in China and abroad, meeting the evolving needs of gamers, content creators, and industry partners worldwide. We have created a vibrant community for game enthusiasts of the young generation. With our game live streaming and video content, we have established ourselves as a platform where game lovers come together to connect and share common interests and passion. In addition to our core game and e-sports offerings, we provide a wide range of non-game entertainment content, such as talent shows, anime, outdoor activities, live chats, and online theater. Building on our strong foundation in game live streaming, starting from 2023, we have been undertaking a strategic transformation to expand our presence in the game industry, through deepening cooperation with game companies and exploring new opportunities that complement our user community and content ecosystem to drive sustainable long-term business development.
Primary products
- Huya Live (domestic game live streaming platform)
- Nimo TV (overseas game live streaming platform)
- Game distribution services
- In-game item sales
- Advertising services
- Noble membership (time-based virtual items)
Business segments
End markets
Geographies
Named competitors
“As a leading player in the online live streaming market of mainland China, we face competition from providers of similar services, such as DouYu, and other online entertainment platforms, such as Bilibili, Kuaishou, and Douyin.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Reported in RMB; 2025 total net revenues were RMB6,502.4 million (US$929.8 million), up 7.0% from RMB6,079.1 million in 2024, driven by a 43.1% increase in game-related services, advertising and other revenues, partially offset by a 3.2% decline in live streaming revenues.
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