HUYA Inc. (NYSE:HUYA) Q3 2018 Earnings Conference Call Transcript
Nov 12, 2018 • 08:00 pm ET
Hello everyone and welcome to the Third Quarter 2018 Earnings Conference Call of Huya Inc. The company's financing 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 in a few hours. Participants on today's call will be Mr. Rongjie Dong, Chief Executive Officer of Huya and Mr. Henry Sha, Chief Financial Officer.
Management will begin with prepared remarks and the call will conclude in a Q&A session. (Forward-Looking Cautionary Statements) Please also note that we ask -- earnings press release and this conference call include discussion of our audited GAAP financial information, as well as unaudited non-GAAP financial measures. Huya's press release compares the reconciliation of the unaudited(ph)non-GAAP measures to the unaudited most directly comparable GAAP measures.
I will now turn the call over to our CEO, Mr. Rongjie Dong. Please go ahead.
Hello everyone. Thank you for joining us today. We are happy to continue to build on our momentum from the first half of the year and to deliver strong financial and operational results for the quarter.
Revenue in the quarter grew 118.8% year-over-year to RMB1.28 billion, exceeding our expectations. We also experienced meaningful growth in MAUs, highlighted by continued strength in mobile MAUs. Driven by our revenue growth we generated a positive net income on both GAAP and the non-GAAP basis, and achieved our fourth quarter consecutive quarter of positive non-GAAP net income of RMB121 million.
We focused heavily on further differentiating our content operations through our intense collaborating with gaming companies, our increasing library of e-sports content and high quality professionally generated content which led to a strong MAU growth in the quarter. In addition, our effective mobile strategy demonstrated higher growth in mobile MAUs and now makes up 50% of our total MAUs. Those mobile users also contributed more than 80% of our live streaming revenue in the quarter.
We have seen solid user growth and also experienced increased user engagement on our platform. The average daily time spent on our mobile app grew to over 110 minutes per day in the third quarter of 2018 from 99 minutes in the fourth quarter of 2017. Through our partnership with broadcasters and talent agencies we are committed to continuously bolstering our content ecosystem and facilitating user interaction with more professional e-sports players. Through these efforts we are creating a more vibrant community driven culture on our platform.
With the growing trend of hardcore gamers and occasional gamers, the gaming e-sports viewers, we have leveraged our exceptional resources and expertise in the live streaming industry to make e-sports content a important part of our growth strategy. We broadcasted more than 110 e-sports tournament and events, including some of the major broader(ph)class tournaments and collection over 510 million viewers on Huya's platform during the quarter.
Notably we introduced a highly innovative and exclusive first person camera view of our China