BUZZ-Bilibili's HK shares hit 12-month low on FY23 revenue outlook

Reuters2023-11-30

** Hong Kong-listed shares of Bilibili Inc drop 12.8% to HK$88.10, their lowest since Nov 10, 2022

** Stock set for a third straight session of losses, if current trend holds

** Stock marks biggest intraday pct drop since Oct 24, 2022

** Bilibili stock is biggest pct loser in Hang Seng Tech Index index, which tracks information technology firms

, and in Hang Seng Composite Index

** U.S.-listed shares of Bilibili down 11.1% on Wednesday

** The Chinese mobile gaming group sees FY23 revenue at the lower-end of its forecast of 22.5 bln yuan ($3.16 bln) to 23.5 bln yuan ($3.30 bln) range amid weak mobile game revenues

** Revenues from mobile games declined 33% YoY to 991.8 mln yuan on lower-than-expected revenue from certain new games in Q3

** Nomura downgrades Bilibili's U.S. shares to "neutral" from "hold" and cuts target price to $13 from $18

** Citi says 3Q23 total revenue in line while earnings miss

** Jefferies maintains "buy", citing co sees net revenue at low-end of its forecast - in line with expectations

** Hang Seng Tech Index falls 1.1%, Hang Seng Composite Index down 0.5%

** Hong Kong-listed stock down 52.4% YTD

($1 = 7.1351 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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Comments

Kencom
2023-12-05
Kencom
Have confidence with the Bilibili

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