(Yicai Global) Aug. 27 -- Bilibili exceeded its own guidance in reporting record quarterly revenue after China’s YouTube-like video platform operator added more paying users and advertisers.

Net revenue jumped 70 percent to CNY2.62 billion (USD370.5 million) in the three months ended June 30 from a year earlier, the Shanghai-based company said in an unaudited earnings report published yesterday. It had forecast CNY2.55 billion. The firm’s net loss widened 81 percent to CNY570.9 million (USD80.8 million).

Tencent-backed Bilibili’s net addition ofmonthly active users rose to the highest so far in the period, while it increased income from advertising, live broadcasting and value-added services.

“Our growth strategy continues to pay off as our platform becomes more attractive for users and business partners,” said Chief Financial Officer Fan Xing.

For this quarter through September, Bilibili expects net revenue of between CNY3.05 billion and CNY3.10 billion,compared with CNY1.86 billion a year earlier.

Shares of Bilibili [NASDAQ: BILI] fell as much as 6.4 percent in pre-market trading in New York. Yesterday, they gained 3.7 percent to USD48.72. The stock has climbed 162 percent so far this year.

The streaming platform’s average number of monthly active users, or MAUs, jumped 55 percent to 171.6 million in the second quarter, with mobile MAUs hitting 152.9 million, a gain of 59 percent. Monthly payingusers reached 12.9 million, more than double the same period last year.

Advertising income more than doubled to CNY348.6 million (USD49.3 million) mainly because of an increase in the number of advertisers thanks to growing brand name recognition in China’s online advertising market, the company said.

Sales and marketing expenses climbed 181 percent to CNY675.1 million.

“Fueled by strong user growth, exceptional content and improved monetization capabilities, we will continue to increase our top line and enhance the value we bring to all of our constituents,” Chief Executive Rui Chen said.

Editor: Ben Armour