关于虎牙18Q2的业绩复盘

2021年

2018-08-14

$虎牙(HUYA)$

只上一些自己关心的核心数据：MAU、营收增速、Non-Gaap利润情况。

字体标红为低于预期，背景标黄为表现优秀，便于以后复盘。

1、MAU略低于预期

与之前Questmobile高增长数据不符，较低于预期；不过考虑到季节效应与世界杯，单个季度表现重要性不高。

2、营收增长好于预期

3、各项Margin表现符合预期，预计虎牙长期净利润率能达到15%，可给2019年5-8倍ps。

综合评价，基于Q2季报，虎牙MAU增长略低于我预期，降低一些PE和PS；当前安全边际在30-50亿，当前合理市值在50-65亿，长期合理市值在65-100亿。

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

falleno
2018-08-14
falleno
楼主持有虎牙多少股份？
- 2021年回复falleno:
  他们做空跟我有什么关系？
- falleno回复2021年:
  感觉直播要凉凉，华尔街的做空大鳄都在虎视眈眈~楼主怎么看？
- 2021年:
  还好吧
健脑合剂2号
2018-08-14
健脑合剂2号
mau增长不是无止境的，虎牙已经很难增长了，不流失就算不错。
库页岛梅老板
2018-08-14
库页岛梅老板
10亿市值
lcxlove
2018-08-14
lcxlove
死了死了要死了
股肛肠
2018-08-14
股肛肠
良心大大的！这篇文章
迷之微笑
2018-08-14
迷之微笑
目前看来即使高于预期也还是会跌

发表看法

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