Shares of HUYA Inc. (NYSE: HUYA), a leading game live streaming platform in China, tumbled 9.03% in pre-market trading on Tuesday following the release of its fourth-quarter 2024 financial results. The company reported figures that fell short of analyst expectations, triggering a sell-off among investors.

HUYA's Q4 sales came in at $204.93 million (RMB 1,495.827 million), missing the analyst consensus estimate of $215.25 million by 4.80%. This represents a 4.89% decrease compared to sales of $215.47 million in the same period last year. The company reported a net loss of RMB 172.203 million, with basic and diluted net loss per American Depositary Share (ADS) each at RMB 0.75 (US$0.10).

The disappointing results were further underscored by an operating loss of RMB 92.692 million and operating expenses of RMB 267.165 million. While HUYA managed to report a non-GAAP net income per ADS of RMB 0.01 (US$0.00), it was significantly below the FactSet analyst expectations of RMB 0.27. The combination of missed revenue targets, declining year-over-year performance, and wider-than-expected losses appears to have shaken investor confidence, leading to the substantial pre-market decline.