Q2 2023 Lizhi Inc Earnings Call
Hello ladies and gentlemen, thank you for standing by for Leeges Inc. 2nd quarter, 2023 earnings conference call.
At this time, all participants are in listen only mode. Today's conference call is being recorded. And I'll turn the call over to your host, Afica, head of capital markets for the company. Please go ahead.
Thank you very much. Hello everyone, and welcome to the second quarter 2020 Stury Ernest Conference call. We released our financial and operating results. We are newswire services earlier today, and they are available online. Participants on today's call will include our founder and CEO , Mr. Marco Leye, our CEO , Mr. Zolong Li, and our acting cellphone Mr. Fan Lu.
Mr. D and Ms. Lu will begin with prepared remarks. As a reminder, this conference is being recorded. In addition, a webcast or replay of this conference call will be available on the IR section of our website at irthorneach.fm.
Before we continue, please note that today's discussions will contain forward-looking statements made under the safe harbor provisions of the US private secretive litigation reform act of 1995. These statements typically contain words such as may, will expect targets, estimates, intent, believe potential continue, or other similar expressions.
Fobo looking statements involving Henry Rift and uncertainties. The accuracy of these statements may be impacted by a number of business rifts and uncertainties that could cause actual results to differ materially from those projected or anticipated, many of which factors are beyond all control.
The company is a fill-ins, advisors, representatives, and underwriters do not undertake any obligation to update this for the looking information, except as required under the applicable law. Please also note that Liege's Ernest Kratrilyz and this conference call includes discussions of unaudited GAAP financial measures as well as unaudited non- GAAP financial measures. Please refer to Liege's Ernest Kratrilyz for reconciliation of unaudited non- GAAP financial measures to unaudited GAAP financial measures.
I will now turn the call over to our CEO , Mr. Zolongli. Please go ahead. Hello, everyone. Thank you for joining the J-Inx, second quarter, 2023 Ernest Conference call.
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Peter In the second quarter of 2023, we remain committed to executing our online audio-centric globalization strategy. By assessing and advancing core technologies, optimizing product features and elevating user experience, we are actively fostering a bright surviving business ecosystem. Despite macro challenges in the second quarter, the company's revenue increased by 15% year-to-ear to R&B 599.
Our total average mobile MAU's amounted to 45.6 million. And our average monthly paying users total to 433.7 thousand. We also achieved the negative come of R&B 11.6 million. Now let me go over our business development during the second quarter. When the lights are out, we are currently in the guard room. demand after struggling Bishop Xin is on state side of the business. GO as well as support for every team. feedback.
I'm already due to increased salary and welfare benefits related to the increase in the number of all I'm destock and increased rental expenses, partially offset by decreased share based compensation expenses and expenses related to research and development services provided by third parties.
Selling and marketing expenses were RMB 67, 5 million in the second caught up 2023.
Come out with be $60 8 million in the center of last year.
Primary attributable to increased branding and marketing expenses.
Increased salary and welfare benefits related to the increase in the number of ourselves and Buffy stop where.
But the money to our advertising and promotion expenses and adjust accordingly based on market conditions.
General and administrative expenses were RMB 23, nine late in the second caught up 10, 23, compared with RMB 30 points six midnight in the center of last year.
Many driven by a decreased provision for litigation contingencies.
Affectional service fees and share based compensation expenses and other miscellaneous expenses.
Partially offset by increased salary and welfare benefits related to the increased average salary.
Operating income was RMB 768, midnight and our second caught up 2023.
They always RMB $14 1 million in the center of last year.
non-GAAP operating income was RMB $13 6 million in the second caught up 2023, compared with RMB $21 2 million in the same period of last year.
Net income was RMB 11, 6 million in the second quarter of this year a couple of hours be $18 9 million samples of last year.
non-GAAP net income was RMB 17, 3 million in the second quarter up 23 come out with be 26 million in the same period of last year.
Basic and diluted net income per the S. M. B 25 stars and B 24 cents, respectively. In the second caught up 23, three compared with RMB, 37% and study arm b such six cents, respectively. In the center of last year.
non-GAAP basic and diluted net income per avs were both RMB 35 cents in the second caught up after only 23 come out with be 50 sets in center of last year.
And I'll have John Studies, 2033, we had cash or cash equivalent short and investments and restricted cash of RMB $607 1 million.
Okay. This concludes all of our prepared remarks today now I would like to turn the call to <unk> for the closing remark.
Thank you once again for joining us today. If you have further questions. Please feel free to contact me just investor relations through the contact information provided on our website.
<unk> Dot nature don't act on them are the Piceance you drove in Investor relations. Thank you.
Thank you that concludes the conference call you May now disconnect. Your line. Thank you.
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