Benzinga | Aug 30, 2021 05:48AM EDT

DouYu Unleashes Fresh $100M Share Buyback

* Chinese game-centric live streaming platform DouYu International Holdings Ltd's (NASDAQ:DOYU) board authorized a share buyback program of up to $100 million of its ordinary shares in the form of ADSs commencing on August 30, 2021.

* The company expects to use its existing funds to fund repurchases made under this program.

* DouYu, which held $1 billion in cash and equivalents, just marginally beat its Q2 revenue consensus and managed to remain in line with the EPS consensus.

* Price Action: DOYU shares traded higher by 1.59% at $3.84 in the premarket session on the last check Monday.