iHuman Inc. (IH) reported a significant decline in its third-quarter earnings this Thursday, citing reduced revenue compared to the same period in the previous year.
The company's quarterly profit fell to RMB25.1 million, or $3.6 million, from RMB51.9 million reported during the same quarter last year.
Earnings per American Depositary Share (ADS) also saw a decrease, with figures reported at RMB0.48 (or $0.07) per share and RMB0.47 (or $0.07) per share, respectively, compared to RMB0.98 and RMB0.95 in the corresponding period the previous year.
Total revenues were recorded at RMB239.4 million, equivalent to $34.1 million, representing a decrease from RMB261.5 million, as recorded in the same timeframe last year.
Despite the decline in revenue, the company saw a 14.8 percent increase in average total Monthly Active Users (MAUs), reaching 29.12 million.