Chinese video streaming platform Bilibili Q2 revenue up 20%, swings to profit
Overview
Bilibili Q2 revenue rises 20% yr/yr to RMB7.34 bln (US$1,024.3 million)
Net profit of RMB218.3 mln (US$30.5 million) vs. net loss last year
Co repurchased 5.6 mln Class Z shares
Outlook
Bilibili aims to enhance content ecosystem with notes offering proceeds
Company focuses on premium content to drive user growth
Bilibili plans to improve monetization efficiency
Company to maintain efficient, sustainable, profitable operations
Result Drivers
ADVERTISING GROWTH - Advertising revenues increased by 20% year over year, driven by strong performance-based advertising
MOBILE GAMES - Mobile games revenues surged 60% year over year, attributed to the success of the exclusively licensed game, San Guo: Mou Ding Tian Xia
GROSS PROFIT IMPROVEMENT - Gross profit rose 46% year over year, with a higher gross profit margin due to stable platform operation costs and enhanced monetization efficiency
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | RMB 7.34 bln | ||
Q2 Adjusted EPS | RMB 1.29 | ||
Q2 Basic EPS | RMB 0.52 | ||
Q2 Gross Profit | RMB 2.68 bln | ||
Q2 Income From Operations | RMB 251.61 mln | ||
Q2 Pretax Profit | RMB 244.64 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Bilibili Inc is HK$211.00, about 6.7% above its August 21 closing price of HK$196.80
Press Release:
