(Yicai Global) Aug. 10 -- Chinese livestreamer Douyu International Holdings has posted an over six-fold gain in profits in the second quarter as the number of premium subscribers jumped more than 13.4 percent, setting a new record for quarterly gains.

Douyu posted net profit under non-Generally Accepted Accounting Principles of CNY323 million (USD46.3 million) in its unaudited financial report for the second quarter that was released today. Revenue was up by a third to CNY2.5 billion (USD258.7 million).

Both figures outdid Bloomberg's predictions of CNY282 million net profit and CNY2.4 billion in revenue.

The good news drove its stock price [NASDAQ:DOYU] up 10 percent in morning trading yesterday, but the firm closed the day down 4.08 percent at USD15.27 apiece.

The increase in the number of paying users, which reached 7.6 million by the end of June, and the improvement in Douyu's brand influence accounted for the company's performance growth, said founder and Chief Executive Officer Chen Shaojie.

Should this upward tendency continue, the Wuhan-based gaming platform expects third-quarter revenue to grow by more than 40 percent year on year to CNY2.6 billion, he added.

Chinese internet giant Tencent Holdings, which holds controlling stakes in both Douyu and its rival Huya, is reportedly in discussions to merge the two to form a streaming giant, Bloomberg reported on Aug. 5.

Editor: Kim Taylor