Bilibili Shares Plunge 11% on Bigger-than-expected Q1 Loss-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Bilibili Shares Plunge 11% on Bigger-than-expected Q1 Loss

Tiger Newspress2022-06-09

Bilibili Shares Plunge 11% on Bigger-than-expected Q1 Loss.

The company posted a net loss of 2.28 billion yuan, compared with a loss of 904.9 million yuan a year earlier.Bilibili Inc. dropped in morning trading after the Chinese e-commerce and gaming company reported first-quarter results.

The company posted a net loss of 2.28 billion yuan, or around $360 million, compared with a loss of CNY904.9 million a year earlier. Per-share loss widened to CNY5.80, or 91 U.S. cents per ADR, compared with CNY2.54 a year earlier.

Stripping out one-time items, the company's adjusted loss was 66 cents a share. Analysts surveyed by FactSet had been expecting adjusted earnings of 61 cents a share.

Total net revenue for the quarter rose 30% to $797.3 million, or CNY5.05 billion. Analysts surveyed by FactSet had been looking for sales of $759.8 million.

Bilibili also forecast that current-quarter revenue will fall sequentially from the first quarter. The company said it expects net revenue for the second quarter to come in between CNY4.85 billion and CNY4.95 billion.

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SCLIEW
·2022-06-10
666
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SPOT_ON
·2022-06-10
Omg
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JoyJoyce
·2022-06-09
Ok
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NPC69
·2022-06-09
K
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ctanya
·2022-06-09
Wow
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NewInvest
·2022-06-09
[Observation]
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nxw
·2022-06-09
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sunshine138
·2022-06-09
Ok
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