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Wuhan-based DouYu's esports revenue rose due to coronavirus

DouYu International Holdings Ltd.'s CEO Shaojie Chen said March 19 revenue has been positively impacted by the coronavirus outbreak as use of its online services increased.

The first few months of the year are typically not strong for esports companies as there are fewer tournaments. Due to the outbreak, however, there was "steady growth in terms of revenue and user growth," Chen said.

DouYu's PC and mobile platform offers interactive games and entertainment livestreaming in China. The company is based in Wuhan, where the outbreak originated in late 2019.

The Tencent Holdings Ltd.-backed company, which listed in the U.S. in July 2019, expects total net revenue of 2.10 billion yuan to 2.16 billion yuan for the first quarter of 2020, representing a year-over-year increase of between 41% and 45%.

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Net income attributable to the company for the three months ended Dec. 31 was 161.6 million Chinese yuan, compared to a net loss of 271.4 million yuan year over year. Net income per ordinary share was 4.75 yuan for the fourth quarter of 2019, compared to a net loss of 33.66 yuan in the same period a year ago.

Monthly average users rose 8% to 165.8 million, from 153.5 million in the fourth quarter of 2018. Mobile MAUs reached 54.4 million, a year over year increase of 29.3% from 42.1 million.

Total net revenue for the fourth quarter increased 77.8% year over year to 2.06 billion yuan from 1.16 billion yuan. DouYu's livestreaming revenue rose 84.1% to 1.89 billion yuan in the fourth quarter, due to an uptick in the number of paying users and average revenue per user.

For full year 2019, DouYu's net income attributable to the company was 39.75 million yuan, compared to a net loss of 876.28 million yuan in 2018. Total net revenue for 2019 increased by 99.3% to 7.28 billion yuan from 3.65 billion yuan in 2018.

As of March 18, US$1 was equivalent to 7.05 Chinese yuan.