Bilibili's loss widens 40pc to 665m yuan

Business | Avery Chen 14 May 2021

Chinese online video site Bilibili (9626) said its adjusted net loss widened by 40.3 percent to 665.8 million yuan (HK$801.35) for the first quarter, as the company increased spending to expand its user base.

Revenue grew by 68 percent to 3.9 billion yuan, driven by mobile games and value-added services. Income from advertisement and e-commerce business saw more than 230 percent growth.

The average monthly active users rose 30 percent to 223.3 million from a year ago. Average monthly paying users grew by 53 percent to 20.5 million.

The first-quarter net loss surged 68 percent to 904.9 million yuan.

The company expects revenue will be between 4.25 billion yuan and 4.35 billion yuan in the second quarter.

Bilibili had raised HK$22.9 billion from a secondary listing in Hong Kong in March. Its shares dropped 6.9 percent to HK$752.5 as compared to the listing price.

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