Douyu reported unaudited results for the second quarter of 2026 on August 20, with total revenue of RMB 981.1 million (USD 145.8 million), up 19.4% from the previous quarter but down 6.9% year-on-year (YoY). The game-focused live streaming platform posted a GAAP net loss of RMB 72.4 million (USD 10.8 million), while adjusted net loss, a non-GAAP measure, was RMB 13.5 million (USD 2 million).
Gross profit reached RMB 159 million (USD 23.6 million), up 12% YoY, while gross margin increased to 16.2% from 13.5% a year earlier. Sales and marketing expenses more than doubled to RMB 124.8 million (USD 18.5 million), which Douyu attributed mainly to higher branding and promotional spending related to major brand and content initiatives.
Revenue from innovative business, advertising, and other sources reached RMB 478.1 million (USD 71 million), accounting for 48.7% of total revenue. The segment grew 0.4% YoY and 32.2% from the previous quarter. Based on Douyu’s quarterly disclosures, it has accounted for more than 40% of total revenue for six consecutive quarters.
Live streaming revenue totaled RMB 503 million (USD 74.7 million), up 9.3% sequentially but down 13% YoY. CEO Simin Ren said live streaming revenue had returned to sequential growth and user engagement improved during the quarter. She also pointed to continued growth in newer revenue streams and the Douyu Carnival as evidence of the company’s efforts to strengthen relationships with streamers and game studios while maintaining a focused approach to investment.
