DouYu Q1 Gross Profit Up 14% To RMB129.4M Despite 13.2% Revenue Drop
DOYU•DouYu’s Q1 2026 net revenues fell 13.2% to RMB821.8 million while gross profit climbed 14.0% to RMB129.4 million. The company swung to profitability with operating income of RMB22.2 million and net income of RMB27.4 million compared to losses in Q1 2025.
1. Financial Results
In Q1 2026, DouYu reported net revenues of RMB821.8 million, down from RMB947.1 million a year earlier. Gross profit rose to RMB129.4 million, up 14.0%, while income from operations reached RMB22.2 million versus a RMB26.1 million loss in Q1 2025. Net income was RMB27.4 million compared to a RMB79.6 million loss, and adjusted net income was RMB30.8 million versus an adjusted loss of RMB20.9 million.
2. Operational Metrics
Average monthly active users on the livestreaming platform were 44.2 million, with 22.9 million on mobile. Quarterly average paying users numbered 2.3 million, generating an ARPPU of RMB228, down from a year earlier. The voice-based social networking business delivered RMB255.8 million in revenues, with 315,600 MAUs and 61,500 paying users.
3. Cost Optimization
Cost of revenues decreased 16.9% to RMB692.4 million, driven by a 16.9% reduction in revenue-sharing fees and content costs to RMB586.7 million. Bandwidth costs fell 19.5% to RMB45.4 million thanks to improved allocation and lower peak usage, underpinning improved cost leverage.
4. Outlook and Growth Plans
Management plans to bolster content supply across eSports and entertainment events, expand IP monetization and invest in offline tournaments to enhance user engagement. Continued emphasis on cost discipline and resource reallocation aims to sustain profitability and drive long-term value.
