Bilibili Swings to Q3 Adjusted Profit, Revenue Rises; OKs $200 Million Share Buyback Plan

MT Newswires11-14

Bilibili reported Thursday it swung to a Q3 adjusted profit of 0.57 renminbi ($0.08) per diluted American depositary share from a loss of 2.12 renminbi per ADS a year earlier.

Analysts surveyed by Capital IQ expected 0.56 renminbi.

Revenue for the quarter ended Sept. 30 was 7.31 billion renminbi, up from 5.81 billion renminbi a year earlier.

Analysts polled by Capital IQ expected 7.15 billion renminbi.

The company's board also approved the repurchase of up to $200 million shares for the next 24 months. The repurchases will be funded using the company's available cash.

Bilibili shares briefly jumped 5.6% in premarket trading after Earnings, and then turned negative.

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