(Yicai Global) Nov. 13 -- Huya doubled its profit in the third quarter thanks to an extravaganza of e-sports competitions livestreamed by the Chinese gaming platform over the summer.

Net profit rose to CNY123 million (USD17.5 million) in the three months through September from a year earlier, marking the eighth consecutive quarter of higher earnings, the Guangzhou-based company said in an earnings report released today. Revenue gained 77.4 percent to CNY2.27 billion (USD323.5 million).

The International Dota2 Championships 2019, the League of Legends Pro League, the League of Legends Champions Korea and King Pro League were all part of the summer line-up, boosting the number of total views to 560 million views, 50 million more than the same period last year.

An enhanced mobile strategy and the summer promotion of e-sports games brought robust growth to the average monthly active users in the third quarter, said Chief Executive Dong Rongjie.

Average MAU numbers rose 47.6 percent to 146.1 million in the period, while those on its mobile app rose 29.1 percent to 63.8 million.

Live streaming revenue, mostly derived from the purchase of virtual gifts to reward vloggers, was up 77.2 percent at CNY2.16 billion. Income from advertising and other businesses made up the remainder, jumping 81.3 percent year on year to CNY109 million.

Next year's prospects should be even better. In October, the firm secured exclusive rights to broadcast League of Legends Champions Korea matches in China between 2020 to 2022.

The company's shares [NYSE:HUYA] closed 4.3 percent lower yesterday at USD24.26 before the earnings results were revealed, giving the firm a market value of USD4.84 billion.

Nasdaq-listed rival live streamer Douyu is scheduled to release its third-quarter results on Nov. 27.