Gaming live streaming platform DouYu International Holdings Limited (DOYU.US) announced on Monday its first quarterly revenue growth in over three years, signaling that the company's business has stabilized following a challenging period for numerous online gaming operators in China.

According to DouYu's announcement, revenue for the three months ended June increased 2.1% year-over-year to 1.05 billion yuan, compared to 1.03 billion yuan in the same period last year. This marks the company's first quarterly revenue growth since the fourth quarter of 2021. Equally significant, the company turned profitable during the quarter with a net profit of 37.8 million yuan, representing its first profitable quarter in nearly two years.

DouYu attributed the improved performance to recent initiatives focused on revenue diversification and enhanced cost efficiency.

DouYu's stock price rose 15% on Monday, closing at $8.26. The stock has declined 27% year-to-date.