Morning News Huya released its Q1 financial report, Tencent Music’s Q1 revenue increased to 7 billion yuan
Huya and Tencent Music both released Q1 financial reports Tencent Music's Q1 revenue reached 7 billion yuan
【PhoneAuto Morning News】On the evening of May 16th, Huya announced its unaudited financial performance for the first quarter ending on March 31, 2023. Data shows that Huya’s revenue in the first quarter of this year was 1.992 billion yuan, a year-on-year decrease of 20.9%. On the same day, Tencent Music released its first quarter earnings report for 2023. After the report was released, Tencent Music’s stock rose 2.89% before the market opened.
Huya released its first quarter financial report: revenue of 1.95 billion yuan, a year-on-year decrease of 20.9%
On the evening of May 16th, Huya announced its unaudited financial performance for the first quarter ending on March 31, 2023. Data shows that Huya’s revenue in the first quarter of this year was 1.992 billion yuan, a year-on-year decrease of 20.9%. Among them, Huya’s revenue from live broadcasting in the first quarter was 1.86 billion yuan ($271 million), and revenue from advertising and other businesses was 89.3 million yuan ($13 million).
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Users prefer paid music streaming! Tencent Music’s Q1 revenue increased to 7 billion yuan
On May 16th, Tencent Music released its first quarter earnings report for 2023. After the report was released, Tencent Music’s stock rose 2.89% before the market opened. Data shows that Tencent Music’s total revenue in the quarter was 7 billion yuan, a year-on-year increase of 5.4%; among them, online music subscription revenue was 2.6 billion yuan, a year-on-year increase of 30.4%; the number of online music paying users reached 94.4 million, a year-on-year increase of 17.7%, with a net increase of 5.9 million from the previous quarter. The company’s equity holders’ net profit attributable was 1.15 billion yuan, a year-on-year increase of 88.5%; the company’s equity holders’ net profit under Non-IFRS was 1.41 billion yuan, a year-on-year increase of 57.0%. As of March 31st, the total amount of cash, cash equivalents, and time deposits was 28.5 billion yuan.
Li Yanhong: Baidu will gradually integrate Wenxin Yiyuan into all Baidu businesses
On May 16, Baidu announced its first quarter results for 2023. During the earnings conference call, Baidu’s founder, chairman, and CEO Li Yanhong stated that Baidu hopes to further strengthen its generative AI capabilities, and use generative AI to empower products and services, providing users with better experiences. Specifically, Baidu will gradually integrate Wenxin Yiyuan into all Baidu businesses, empowering Baidu’s products and services and attracting a wider range of users and customers.
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