Why Bilibili Shares Are Falling Today
Portfolio Pulse from Anusuya Lahiri
Bilibili Inc reported Q1 FY23 revenue growth of 0.3% YoY to $738.2 million, beating consensus estimates. MAUs reached 315.2 million, and DAUs climbed 18% YoY. However, mobile game revenues fell 17% YoY, and shares traded lower by 1.66% in the premarket session.
June 01, 2023 | 12:20 pm
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NEGATIVE IMPACT
Bilibili's Q1 FY23 revenue beat estimates, but mobile game revenues fell 17% YoY. Shares traded lower by 1.66% in the premarket session.
Bilibili's Q1 FY23 revenue growth and user metrics were positive, but the decline in mobile game revenues, a significant segment of their business, led to a negative market reaction. This resulted in a 1.66% drop in share price during the premarket session.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100