{"id":317952,"date":"2022-11-16T19:18:31","date_gmt":"2022-11-16T19:18:31","guid":{"rendered":"https:\/\/omni48.com\/?p=317952"},"modified":"2022-11-16T19:42:17","modified_gmt":"2022-11-16T19:42:17","slug":"why-huya-stock-was-falling-today","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/why-huya-stock-was-falling-today","title":{"rendered":"Why Huya Stock Was Falling Today"},"content":{"rendered":"<p>What happened Shares of Huya (NYSE: HUYA) were down 10.9% as of 1:13 p.m. ET on Wednesday after receiving an analyst downgrade following its third-quarter earnings report. A weak economic environment in China has weighed on Huya&#8217;s operating results this year. Year to date, the stock has fallen 59%,&#160;and Citigroup analyst Brian Gong sees more headwinds in the near term. So what In the third quarter, Huya reported a 20% year-over-year drop in revenue, which translated to an adjusted loss on the bottom line.&#160;The analyst sees higher content costs further weighing on financial results. As a result, Gong downgraded the stock to a sell rating with a $3 price target. Huya finished the quarter with 86 million mobile monthly active users, but paying users fell to 5.5 million from 6 million in the year-ago quarter.&#160;The long-term growth of the esports industry is a catalyst for Huya, but the analyst believes it could be difficult to improve growth due to China&#8217;s<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This leading esports platform will need to grow profits to restore investor confidence.<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36,1,24],"tags":[],"class_list":["post-317952","post","type-post","status-publish","format-standard","hentry","category-markets","category-news","category-stocks"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/317952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=317952"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/317952\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=317952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=317952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=317952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}