Bilibili Shares Soar After Q2 Performance, User Base Expands Amid Game Revenue Downturn
Portfolio Pulse from Anusuya Lahiri
Bilibili Inc reported Q2 FY23 revenue growth of 8% YoY to $731.5 million, beating the consensus of $726.4 million. The company's average daily active users climbed 15% YoY to 96.5 million. However, revenues from mobile games were down 15% YoY due to the lack of new game launches. The company expects FY23 revenues of RMB22.5 billion - RMB23.5 billion, lower than the previous expectation due to the delay of certain game launches and lower-than-expected revenue from non-core businesses.
August 17, 2023 | 11:25 am
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Bilibili's Q2 FY23 revenue beat consensus, driven by a 15% YoY increase in daily active users. However, mobile game revenues are down 15% YoY, and the company has lowered its FY23 revenue expectations.
Bilibili's Q2 FY23 revenue beat consensus, which is a positive signal for investors. The increase in daily active users indicates strong user engagement, which is crucial for the company's advertising revenue. However, the decrease in mobile game revenues and the lowered FY23 revenue expectations could negatively impact the company's future earnings.
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