Bilibili CEO Chen Rui gave a non-GAAP operating profit timeline of the third quarter this year after the Chinese video streaming company reported a net loss of RMB 1.3 billion ($182.6 million) for the three months ended December. A year-on-year growth of more than 20% both in advertising and value-added services has offset a decline in revenues from mobile games and IP derivatives and others by 12% and 51% from a year earlier respectively. The firm’s quarterly earnings were up 3% compared to the same period of 2022. Bilibili hit a daily active user milestone of 100 million during the period, which also saw users spending more than 95 minutes per day on the platform on average. Bilibili has gradually reduced its revenue sharing with content creators as it looks to achieve profitability, a shift that has partly driven more creators to engage in video and live e-commerce-related activities, with over 60,000 users participating in these during the last quarter. [Bilibili]
Related
