T. H. Data Flash – Huya Inc. (HUYA) – 3Q18: Rapid Growth In Audience; 3Q18 Is Likely To Top The High End Of Guidance
In recent quarters, Huya has been making more contribution to YY’s growth than YY live. The growth of YY Live is mainly driven by ARPU with flat growth in active users, while Huya was mainly driven by user growth. Based on our data and model, we believe Huya’s revenue is likely to reach RMB1,229.2M in 3Q18E (110.6% Y/Y growth vs. 125% Y/Y growth in 2Q18), topping the high end of the guidance range of RMB1,190M – RMB1,220M, and is likely to be largely in line with consensus at RMB1,233.0M.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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