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

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! According to CTOnews.com news on August 17, bilibili has now released its financial results for the second quarter of 2023, which ended on June 30:

Revenue is 5.3 billion yuan, market is expected to be 5.273 billion yuan, in the same period last year, 4.9 billion yuan, up 8% year-on-year, net loss 1.5 billion yuan, narrowed 23%; adjusted net loss 964 million yuan, narrowed 51% year-on-year; gross profit 1.2 billion yuan, up 66% year-on-year; gross profit margin 23.1%, 15% in the same period last year.

In addition, bilibili paid more attention to cost control, continued to promote cost reduction and efficiency, and the total operating expenses of Q2 decreased by 14% compared with the same period last year. In the second quarter, bilibili's advertising revenue increased 36% year-on-year to 1.6 billion yuan. With the maturity of video delivery and LVB ecology, more than 1.58 million UP owners earn income in bilibili, an increase of 40% over the same period last year, and the number of UP owners who earn revenue through LVB and video delivery has increased by more than 220% compared with the same period last year.

As of CTOnews.com, bilibili's US stock was up about 7.61 per cent before trading.

In terms of user data, in the second quarter, bilibili's average daily active users reached 96.5 million, an increase of 15% over the same period last year, and the average monthly active users reached 324 million. At the same time, bilibili actively promoted the process of commercialization. In the second quarter, advertising revenue increased 36% year-on-year to 1.6 billion yuan, value-added services revenue increased 9% to 2.3 billion yuan, and overall gross profit margin further increased to 23.1%.

Chen Rui, chairman and chief executive of bilibili, said: in the second quarter, we achieved a substantial increase in gross profit and a significant narrowing of losses. While striving to build a dynamic community, we continue to improve the efficiency of commercialization. By fully implementing this strategy, our advertising revenue grew by 36% in the second quarter of 2023 compared with the same period last year. At the same time, our average number of daily active users increased by 15% year-on-year to 96.5 million. Our users still maintain a high level of participation. in the second quarter, the average daily use time of users in bilibili was 94 minutes, and the total user time 2 increased by 22% compared with the same period last year. Looking ahead to the second half of 2023 and beyond, our top priority remains to achieve high-quality income and community growth. We are always committed to achieving a break-even goal while building a popular and imaginative video community for China's younger generation.

Main results for the second quarter:

Revenue from value-added services was 2.3 billion yuan ($317.4 million), an increase of 9% compared with the same period in 2022.

Revenue from advertising was 1.6 billion yuan ($216.9 million), an increase of 36% compared with the same period in 2022.

Revenue from mobile games was 890.9 million yuan ($122.9 million), down 15% from the same period in 2022.

Revenue from IP derivatives and other businesses (formerly "ecommerce and other revenue") was 538.7 million yuan ($74.3 million), down 10 per cent from the same period in 2022.

Bilibili expects total net business to be between 22.5 billion yuan and 23.5 billion yuan in 2023. By contrast, the Company had expected total net business of RMB 24 billion to RMB 26 billion, reflecting the best information available at that time. The revision is mainly due to delays in the launch of several games and lower-than-expected revenue contributions from non-core businesses such as IP derivatives and others.

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