Bilibili’s Revenue and Users Grew in the First Quarter, While Net Loss Widens

Communication Author: Hu Bi Editor: Yiru Qian Jun 10, 2022 06:55 PM (GMT+8)

From providing anime, comics and games to becoming a full-spectrum video community, Bilibili has experienced many challenges.

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Bilibili (BILI:NASDAQ, 9626:HK) published its unaudited fiscal report for the first quarter of 2022 on June 9, marking an increase in revenue to CNY 5 billion, up 29.5% year-over-year.

To break it down, advertising revenues reached CNY 1 billion, representing a 46% jump compared to the same period last year and can be considered as the firm’s fastest-growing business.

Besides, revenue from value-added businesses reached CNY 2 billion due to the growth of livestreaming and membership. Nonetheless, the firm’s gaming and e-commerce businesses experienced a slowdown and only increased by 16% year-on-year.

Founded in 2009, Bilibili is an online video platform that aims to enrich the everyday life of the young generations in China. It enables broad video-based content consumption scenarios for its consumers, which include professional user-generated videos supplemented with live broadcasting and occupationally-generated videos.

Moreover, the platform continues to attract and maintain users. In the first quarter, the platform had 294 million monthly average active users, up 31% year-over-year. In addition, average daily active users reached 79.4 million, an increase of 32% from the same period in 2021.

Nonetheless, the firm’s profitability is not up to the mark. Bilibili’s net loss reached CNY 2,284 million, compared to CNY 905 million for the same period in 2021, expanding more than 152% year-over-year.

Besides, the company operates in the online video streaming market. There are numerous domestic and international rivals that may impact its business, including QQ Video, Mango TV, Youtube and Watermelon Video (Chinese: 西瓜视频).

Bilibili's shares closed 14.78% lower to USD 25.32 apiece today, with a market cap of USD 9.89 billion.