DouYu Q2 2026: Revenue Misses, Swings to Net Loss on Investment Write-Down
DOYU is trading near its 52-week low of $4.28 (6.5% above the low).
Summary
DouYu's Q2 revenue fell 6.9% to RMB981.1M, missing estimates, and the company swung to a net loss of RMB72.4M due to investment losses and higher marketing spend.
Key Events · Earnings and Guidance · DOYU
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Revenue Misses Consensus
Q2 2026 total net revenues were RMB981.1 million (US$144.6 million), down 6.9% year-over-year from RMB1,053.9 million, missing the consensus estimate.
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Swings to Net Loss
Net loss was RMB72.4 million (US$10.7 million) compared with net income of RMB37.8 million a year ago, driven by a RMB54.3 million share of loss in equity method investments.
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Adjusted Loss Narrows
Adjusted net loss (non-GAAP) was RMB13.5 million (US$2.0 million), versus adjusted net income of RMB25.3 million in Q2 2025.
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Gross Margin Improves
Gross profit rose 12.0% to RMB159.0 million, with gross margin expanding to 16.2% from 13.5%, helped by lower revenue-sharing fees and content costs.
Analysis · DOYU · Technology
DouYu reported Q2 revenue of RMB981.1 million, down 6.9% year-over-year and missing consensus. The company swung to a net loss of RMB72.4 million from a profit of RMB37.8 million a year ago, driven by a RMB54.3 million share of loss in equity method investments. Adjusted net loss was RMB13.5 million. Gross margin improved to 16.2% from 13.5%, but operating expenses surged 41% due to heavy spending on the DouYu Carnival and brand events. Cash position remains strong at RMB2,365.6 million.
At the time of this filing, DOYU was trading at $4.56 on NASDAQ in the Technology sector, with a market capitalization of approximately $142.1M. The 52-week trading range was $4.28 to $8.65. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.