Financial Performance Bilibili Inc ADR (BILI) $Bilibili Inc.(BILI)$ reported a 1st Quarter March 2023 loss of $0.35 per share on revenue of $740.9 million, beating the consensus estimate loss of $0.41 per share. The net loss narrowed by 72% from the same period of 2022, and the adjusted net loss narrowed by 38%. The gross profit was $160.7 million, a 37% increase from the same period in 2022.
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Operational Highlights Bilibili's first quarter highlights include revenues from advertising increasing by 22% from the same period in 2022 and average daily active users (DAUs) reaching 93.7 million, an 18% increase from the same period in 2022. Revenue from mobile games and IP derivatives, however, decreased by 17% and 15% respectively.
Future Outlook and Strategies For the full year of 2023, Bilibili expects net revenues to be between RMB24.0 billion and RMB26.0 billion. The company also announced that they are focusing on enhancing commercialization efficiency and improving profitability, as well as building a better stage for creators and fostering a welcoming community. The Company had repurchased a total of 2.6 million ADSs for a total cost of US$53.6 million as of March 31, 2023, under a share repurchase program.
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