Bilibili Narrows Net Loss on Stronger Revenue
By Jiahui Huang
Bilibili more than halved its net loss in the second quarter as revenue rose on stronger sales across its advertising, value-added services and mobile-game businesses.
The Chinese video-streaming company said Thursday that total net revenue for the second quarter rose 16% from a year earlier to 6.13 billion yuan, equivalent to $859.4 million. That beat market expectations of 6.03 billion yuan based on a FactSet poll of analysts.
Its quarterly net loss was 608.7 million yuan, compared with 1.49 billion yuan a year ago, helped by a sharply narrower loss from operations and stronger revenue. The bottom line beat a FactSet estimate for net loss of 638.2 million yuan.
Adjusted net loss, which excludes share-based compensation expenses and fair-value changes in some investments, among other items, was 271.5 million yuan in the quarter, narrowing from 962.6 million yuan a year earlier.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
August 22, 2024 06:47 ET (10:47 GMT)
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