Bilibili Shares Rise Over 8% After Reporting Narrower Fourth-Quarter Loss

Tiger Newspress2023-03-03

Shares of Chinese video-sharing platform Bilibili Inc. rose sharply in morning trading after the company reported a narrower fourth-quarter loss.

Bilibili's shares jumped as much as 8.44% to $23.39 on Friday.

The company said Thursday that its fourth-quarter net loss narrowed to US$217.1 million, which it attributed to solid growth in daily active users and better gross margins.

Bilibili also guided for net revenues to rise 10%-19% to range between 24 billion yuan (US$3.47 billion) and CNY26 billion in 2023.

The platform's narrower net loss beat market estimates, Nomura analysts Jialong Shi and Thomas Shen said in a note.

The Nomura analysts expect Bilibili's net loss to continue to narrow in 2023 before breaking even in 2024, as the company works on cutting operating expenses and improving platform monetization.

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Jackwoft
2023-03-04
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Chillman
2023-03-04
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2023-03-04
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