Bilibili Projects 60% First-Quarter Growth in Bullish Peri-Pandemic Forecast
Zhang Yushuo
DATE:  Mar 18 2020
/ SOURCE:  yicai
Bilibili Projects 60% First-Quarter Growth in Bullish Peri-Pandemic Forecast Bilibili Projects 60% First-Quarter Growth in Bullish Peri-Pandemic Forecast

(Yicai Global) March 18 -- Chinese video streaming platform has projected revenue will surge between 57 percent and 60 percent in the first quarter as the world battles against the Covid-19 pandemic.

The Shanghai-based company expects income from January through March will reach between CNY2.15 billion (USD307 million) and CNY2.2 billion, it said in its annual report yesterday. While not credited for the surge, Covid-19 has likely helped the firm as citizens across the globe remain indoors amid fear of infection or legal and other repercussions.

Its shares [NASDAQ:BILI] closed 9.9 percent higher at USD24.35 in New York yesterday before the announcement was published.

Bilibili lost CNY1.3 billion throughout 2019, more than twice as much as in 2018 despite revenue leaping 64 percent to CNY6.8 billion, thanks to a boost from mobile games and live streaming. Its fourth-quarter loss also doubled to a larger-than-expected deficit of CNY387 million.

"2019 was a transformational year as we gained broader recognition as the go-to online entertainment platform in China," Chairman Rui Chen said, showing excitement about the growing diversity and size of Bilibili's audience. "We will continue to cultivate a healthy content ecosystem and enhance our community bond," he added.

The firm averaged 130.3 million monthly active users in the final quarter of 2019, up 40 percent annually, while MAUs on mobile rose 46 percent to 116.1 million. Revenue per MAU jumped 24 percent to around CNY15.40 (USD2.20) while the average number of monthly paying users doubled to 8.8 million.

Editor: James Boynton

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Keywords:   Bilibili,live streaming,video game