BUZZ-Bilibili's Hong Kong shares hit 7-week low on missing Q3 estimates

Reuters11-15
BUZZ-Bilibili's Hong Kong shares hit 7-week low on missing Q3 estimates

** Hong Kong shares of Bilibili 9626.HK drop 13.5% to HK$140.5 after the mobile gaming company missed Q3 earnings estimates

** Stock hits lowest level since Sept. 25, top pct loser in Hang Seng Tech Index .HSTECH which climbs 0.6%

** U.S.-listed stock BILI.O fell 12.6% on Thursday

** Bilibili reports Q3 adjusted EPS at 0.57 yuan ($0.0788), below estimates of 0.61 yuan, according to data compiled by LSEG

** Cost of revenues grew 9% YoY to 4.76 bln yuan, while Q3 advertising revenue missed estimates

** Zephirin Group reiterates "Strong Sell" rating and trims price objective to HK$95 from HK$90, saying it sees negatives including high cost, cautious industry outlook and regulatory oversight

** Citi, with "Neutral/High Risk" rating, says the results are decent with beat on gaming revs and non-GAAP OPM

** "With revs mix shifting toward ads and gaming, the expansion of GPM and non-GAAP OPM looks solid and is likely to continue ahead"

** Hong Kong shares up 57.5% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment