Why DouYu Stock Was Up Earlier Today
Shares of DouYu International Holdings (NASDAQ: DOYU) were up 16% as of 11:21 a.m. ET on Monday after the company reported better-than-expected earnings results for the second quarter.
The Chinese livestreaming platform provider posted a sequential increase in average mobile monthly active users and quarterly average paying users. DouYu has struggled over the past year as regulatory authorities in China intensified their scrutiny of the tech sector's influence on young people. After the post-earnings pop, the stock is still way off its highs, down 45% year to date.
Revenue declined 21% year over year after management made changes to certain interactive features in response to a tighter regulatory environment. This continues the trend in the previous quarter, when revenue also fell by double-digit percentages year over year.
Source Fool.com
