(Yicai) Aug. 22 -- Bilibili’s stock price tumbled despite the Chinese video-sharing and gaming platform swinging into the black last quarter for only the second time after revenue from mobile gaming and advertising surged.

Bilibili [HKG: 9626] ended 6.2 percent lower at HKD184.70 (USD23.63) a share in Hong Kong today. Its New York-listed stock [NASDAQ: BILI] lost 6.1 percent to USD23.76 yesterday.

Net profit was CNY218.3 million (USD30.5 million) in the three months ended June 30, compared with a net loss of CNY608.1 million a year earlier, Bilibili said in an earnings report released yesterday. Non-GAAP profit was CNY561.3 million, versus an adjusted net loss of CNY271 million.

The Shanghai-based company had its first net profit based on generally accepted accounting principles in the fourth quarter of last year, reporting CNY88.9 million (USD12.4 million).

“We maintained strong momentum in the second quarter, delivering solid revenue growth alongside our thriving community of high value, loyal young users,” Chairman and Chief Executive Chen Rui said on Bilibili’s earnings conference call.

Revenue rose 20 percent to CNY7.3 billion (USD1 billion), with mobile gaming up 60 percent to CNY1.6 billion, advertising up 20 percent to CNY2.5 billion, and value-added services, which includes membership subscriptions and livestreaming, up 11 percent to CNY2.8 billion. Income from intellectual property derivatives and other businesses fell 15 percent to CNY439.9 million.

“Our performance reflects our growing influence among China’s Gen Z plus audience,” Chen said. “By providing users with high quality content they love, we foster deeper engagement that fuels our commercial ecosystem.”

Daily active users rose 7 percent to a new record of 109 million, monthly active users 8 percent to 363 million, and monthly paying users 9 percent to 31 million, he noted.

“The average daily time spent rose to 105 minutes, up six minutes compared to the same period last year, reflecting our continued focus on high-quality videos that capture and hold our community’s interest in meaningful and fulfilling content.”

Bilibili again attributed its strong gaming segment performance to San Guo: Mou Ding Tian Xia, launched in June last year, with Chen saying that he expects the strategy game's life cycle to last for more than five years.

“AI-related content continues to be a breakout category,” Chen pointed out. Bilibili has made progress in using artificial intelligence to support the creation of long videos and will show them to the public soon, he said, adding that AI can be a useful tool for video creators to boost their production efficiency.

Editors: Dou Shicong, Martin Kadiev