Chinese video platform Bilibili achieves quarterly profitability for first time

South China Morning Post11-14 17:30

Chinese video-sharing and gaming platform Bilibili has achieved quarterly profitability for the first time, a key milestone it has been striving for since going public in the US in 2018. The Shanghai-...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese video platform Bilibili achieves quarterly profitability for first time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-14 17:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/chinese-video-platform-bilibili-achieves-093000519.html><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese video-sharing and gaming platform Bilibili has achieved quarterly profitability for the first time, a key milestone it has been striving for since going public in the US in 2018.\nThe Shanghai-...</p>\n\n<a href=\"https://finance.yahoo.com/news/chinese-video-platform-bilibili-achieves-093000519.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4566","symbol_name":"资本集团","start_time":0,"source_url":"https://finance.yahoo.com/news/chinese-video-platform-bilibili-achieves-093000519.html","article_id":"2483361750","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/8QmOnmBYzdiH2iMIF0kQPg--~B/aD0xMzMzO3c9MTk5OTthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/south_china_morning_post_us_228/cf545c2675e4a4a745577f01e692ada9"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483361750","pubTimestamp":1731576600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Chinese video-sharing and gaming platform Bilibili has achieved quarterly profitability for the first time, a key milestone it has been striving for since going public in the US in 2018.The Shanghai-based company said in a statement on Thursday that it recorded an adjusted net profit of 235.9 million yuan  during the third quarter, compared with an adjusted net loss of 863.5 million yuan in the same period last year. That marks the company's first adjusted net profit in a quarter. It still has not recorded an annual net profit since going public.Chen Rui, Bilibili chairman and chief executive, attributed the profitability to the firm's \"consistent effort in improving commercialisation efficiency\".Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.\"This milestone is just a new starting point,\" Chen said in the statement. \"Going forward, we will further develop our commercial c","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4566":"资本集团","BK4509":"腾讯概念","BK4577":"网络游戏","BK4077":"互动媒体与服务","BILI":"哔哩哔哩","BK4526":"热门中概股","BK4588":"碎股","BK4503":"景林资产持仓","BK4505":"高瓴资本持仓","BK4510":"在线教育","BK4085":"互动家庭娱乐","BK4504":"桥水持仓","SCMP":"Sucampo Pharmaceuticals","BK4563":"昨日强势股","BK4548":"巴美列捷福持仓","BK4513":"直播概念","BK4554":"元宇宙及AR概念","BK4531":"中概回港概念","BK4585":"ETF&股票定投概念"},"translate_title":"中国视频平台哔哩哔哩首次实现季度盈利","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SCMP":1,"BILI":1},"content_text":"Chinese video-sharing and gaming platform Bilibili has achieved quarterly profitability for the first time, a key milestone it has been striving for since going public in the US in 2018.\nThe Shanghai-based company said in a statement on Thursday that it recorded an adjusted net profit of 235.9 million yuan (US$33.6 million) during the third quarter, compared with an adjusted net loss of 863.5 million yuan in the same period last year. That marks the company's first adjusted net profit in a quarter. It still has not recorded an annual net profit since going public.\nChen Rui, Bilibili chairman and chief executive, attributed the profitability to the firm's \"consistent effort in improving commercialisation efficiency\".\nDo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.\n\"This milestone is just a new starting point,\" Chen said in the statement. \"Going forward, we will further develop our commercial capabilities while reinforcing our community ecosystem, bringing long-term value to all of our stakeholders.\"\n\nA screen shows South Korea's T1 competing against China's Bilibili Gaming during the League of Legends Worlds Championship final in London on November 2. Photo: AFP alt=A screen shows South Korea's T1 competing against China's Bilibili Gaming during the League of Legends Worlds Championship final in London on November 2. Photo: AFP>\nTotal revenues during the quarter grew 26 per cent year on year to 7.31 billion yuan, up from 5.8 billion in the same period last year. The improved earnings came on the back of strong growth in its high-margin mobile games business, which saw an 84 per cent year-on-year surge in revenue.\nBilibili has achieved success by becoming popular among China's younger generation, but turning its business into a profitable venture has proved challenging over the past six years.\nWhen it went public in 2018, the US and Hong Kong-listed firm's largest revenue stream came from video games, but that revenue share has declined to around 20 per cent as its video platform grows. However, it doubled down on gaming after Chen took direct management control of the business in late 2022.\nDuring the quarter, the platform saw its monthly active users and daily active users reach 348 million and 107 million, respectively, both a record high. Average daily time spent by users also reached a new high of 106 minutes, up six minutes from a year ago.\nShares of the company dropped 3.8 per cent in Hong Kong ahead of the earnings release on Thursday.\nThe profitability milestone came after Bilibili restructured its content units earlier this year, doubling down on the live-streaming business while also ramping up commercialisation of its content creator and video game segments.\nThe company also set up a new unit to help its three million content creators make money, and appointed a new executive to take charge of its video game commercialisation unit.\nThis article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved. \nCopyright (c) 2024. South China Morning Post Publishers Ltd. 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