Boyaa Interactive Swings to Loss in Q1; Shares Slide 3%

MT Newswires Live
30 May

Boyaa Interactive (HKG:0434) reported a net loss of HK$223.6 million in the first quarter, reversing a profit of HK$387.6 million in the same period last year, according to a Thursday Hong Kong bourse filing.

The loss was primarily due to an unrealized fair value loss of HK$315.6 million on digital assets, compared to a gain of HK$388.6 million in the prior-year quarter.

Revenue declined 6.4% year-over-year to HK$111.9 million, with online game revenue down 7.4% to HK$109.3 million.

Mobile game revenue slid 1.4% to HK$81.5 million, while web-based game revenue dropped 21.3% to HK$27.8 million.

Despite the revenue decline, the company reported growth in user engagement. Daily active users increased 8.7% year-over-year to 1.25 million, and monthly active users rose 5.5% to 4.39 million.

Shares of the game software company were down about 3% in recent trade on Friday.

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