Bilibili Tumbles After Chinese Video-Sharing App’s First-Quarter Loss Widens
Xu Wei
DATE:  May 14 2021
/ SOURCE:  Yicai
Bilibili Tumbles After Chinese Video-Sharing App’s First-Quarter Loss Widens Bilibili Tumbles After Chinese Video-Sharing App’s First-Quarter Loss Widens

(Yicai Global) May 14 -- Bilibili’s shares sank after the Chinese video-sharing platform’s net loss widened and revenue growth slowed in the first quarter.

Bilibili [HKG: 9626] ended 6.3 percent lower in Hong Kong today at HKD705.5 (USD90.84), after earlier dropping as much as 7.5 percent. The broader Hang Seng Index rose 1.1 percent. The company listed in the city on March 29.

The Shanghai-based company’s net loss widened 68 percent to CNY905 million (USD140.6 million) in the three months ended March, versus CNY539 million a year ago, it said in an earnings report yesterday. Revenue jumped 68 percent, slowing from 91 percent the previous quarter, to CNY3.9 billion (USD606 million). For this quarter, Bilibili expects revenue to reach CNY4.25 billion to CNY4.35 billion.

In New York yesterday, the firm’s stock [NASDAQ: BILI] skidded 6.8 percent, but was up almost 4 percent at USD90.95 in pre-market trading today as of 6.41 a.m. local time.

Its year-on-year advertising revenues have increased for eight quarters in a row. Ad income skyrocketed 234 percent to CNY700 million in the March quarter, while that from gaming rose 2 percent to CNY1.2 billion. Revenue from value-added services soared 89 percent to CNY1.5 billion. Income from e-commerce and other businesses tallied CNY500 million, a 230 percent surge.

From January to March, average monthly active users rose 30 percent to 223 million from a year ago, while average monthly active users on mobiles rose 33 percent to 209 million. The average number of monthly paid subscribers reached a new high of 20.5 million.

Editor: Peter Thomas

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Keywords:   Bilibili