Bilibili shares gain 3% on better-than-expected Q2 results by Investing.com

SHANGHAI – Bilibili Inc . (NASDAQ: ) shares rose 3.2% on Thursday after the Chinese video platform reported second-quarter results that beat analysts’ expectations, driven by strong growth in advertising and gaming revenue.

The company posted an adjusted net loss of RMB 0.65 ($0.09) per share, narrower than analysts had expected a loss of RMB 0.74. Revenue rose 16% year-over-year to RMB 6.13 billion ($843.1 million), slightly above the consensus estimate of RMB 6.1 billion.

Advertising revenue was a bright spot, growing 30% year-on-year to RMB 2.04 billion ($280.4 million). Mobile game revenue was also strong, rising 13% to RMB 1.01 billion (US$138.6 million), boosted by the launch of new titles such as “San Guo: Mou Ding Tian Xia.”

“Our second quarter results highlight how we are accelerating our financial performance while cultivating a vibrant community,” said Rui Chen, president and CEO of Bilibili.

The company’s user numbers continued to improve, with daily active users growing 6% year over year to 102.3 million. Average daily time spent per user increased to 99 minutes, up from 94 minutes a year ago.

Bilibili also made progress on profitability, with adjusted net loss narrowing 72% year-on-year to RMB 271.0 million (US$37.3 million). The company generated positive operating cash flow of RMB 1.75 billion (US$240.9 million) in Q2.

Looking ahead, management expressed confidence in the company’s path to profitability and future growth potential as it improves monetization of its user base.

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