Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen artist Li Dading for the clue delivery! CTOnews.com November 29 news, Beiley today released the third quarter of 2022 financial results, the third quarter revenue of 5.8 billion yuan, an increase of 11% year-on-year; market expectations of 5.717 billion yuan.

Highlights of Q3 2022:

Revenue totaled 5.8 billion yuan ($814.5 million), up 11% from the same period in 2021.

The net loss was RMB1.7 billion (US$241.2 million), down 36% from the same period in 2021.

Daily active users reached 90.3 million, up 25% from the same period in 2021.

Average monthly active users reached 332.6 million, up 25% from the same period in 2021.

Average monthly paying users reached 28.5 million, up 19% from the same period in 2021.

Financial results for the third quarter of 2022:

Total Net Revenue: Total net revenue was RMB5.8 billion (US$814.5 million), an increase of 11% over the same period in 2021.

mobile games: mobile game revenue was rmb 1.5 billion ($206.8 million), up 6% from the same period in 2021. The increase was mainly due to the launch of new mobile games.

Value-added services (VAS): VAS revenue was RMB2.2 billion (US$310.6 million), up 16% from the same period in 2021, primarily due to the Company's increased monetization efforts, primarily due to the increase in the number of paying users of the Company's value-added services, including premium membership programs, live streaming services and other value-added services.

Advertising: Advertising revenue was RMB1.4 billion (US$190.5 million), up 16% from the same period in 2021. This increase was mainly due to the further recognition of the Beili brand in the online advertising market in China and the improvement of Beili advertising efficiency.

E-commerce, etc.: Revenue from e-commerce and other businesses was RMB 757.8 million (US $106.5 million), up 3% from the same period in 2021.

Cost of revenue: Cost of revenue was RMB4.7 billion (US$666.3 million), up 13% from the same period in 2021. This increase was mainly due to increases in revenue sharing costs and content costs. Revenue sharing costs, an important component of revenue costs, were RMB2.4 billion (US$335.1 million), up 11% from the same period in 2021.

Gross profit: Gross profit was RMB1.1 billion (US$148.2 million), an increase of 4% from the same period in 2021.

Total operating expenses: Total operating expenses were flat at RMB2.9 billion (US$408.1 million) compared to the same period in 2021.

Selling and marketing expenses: Selling and marketing expenses were RMB1.2 billion (US$172.7 million), down 25% year-over-year. The decrease was mainly due to a decrease in promotional expenses in the third quarter of 2022.

General and administrative expenses: Administrative expenses were RMB543.4 million (US$76.4 million), up 14% year-over-year. The increase is mainly attributable to an increase in the number of general and administrative staff.

R & D expenses: R & D expenses were 1.1 billion yuan (US$159 million), up 43% year-on-year. This increase was mainly due to an increase in the number of research and development personnel and an increase in depreciation charges for servers and equipment.

Operating loss: Operating loss was RMB1.8 billion (US$259.9 million), compared to RMB1.9 billion for the same period in 2021.

Income tax expense: Income tax expense was RMB27.1 million (US$3.8 million), compared to RMB28.3 million for the same period in 2021.

Net loss: Net loss was RMB1.7 billion (US$241.2 million), down 36% from RMB2.7 billion for the same period in 2021.

Adjusted net loss: Adjusted net loss was RMB1.8 billion (US$248.1 million), compared with RMB1.6 billion for the same period in 2021.

CTOnews.com understands that, looking forward to the fourth quarter, Beiley expects revenue in the fourth quarter of 2022 to be between RMB 6 billion and RMB 6.2 billion.

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