Bilibili's Q1 2024 Report Revenue Growth and Business Updates
TapTechNews May 23rd news, Bilibili (B Station) today announced in the Hong Kong Stock Exchange its financial report for the first quarter of this year ending March 31. The data shows that the quarterly revenue was 5.665 billion yuan, compared with 5.1 billion yuan in the same period of the previous year and the market expectation of 5.6 billion yuan, with a year-on-year increase of 12%.
The quarterly net loss of B Station was 764.6 million yuan, and the net loss in the same period of the previous year was 629.6 million yuan. If not in accordance with the US Generally Accepted Accounting Principles, the adjusted net loss was 455.9 million yuan, narrowing by 56% year-on-year.
TapTechNews collects detailed data:
Value-added services: The turnover of value-added services was 2.529 billion yuan, an increase of 17% compared to the same period of the previous year, due to the increase in the turnover of live streaming and value-added services.
Advertising: The turnover of advertising was 1.669 billion yuan, an increase of 31% compared to the same period in 2023, mainly due to the optimization of advertising products and the improvement of advertising efficiency provided by the company.
Mobile games: The turnover of mobile games was 983 million yuan, a decrease of 13% year-on-year, mainly due to the decrease in the turnover of several old games. The company's exclusively licensed strategy game Three Kingdoms: Deciding the World is planned to be released on June 13, 2024.
IP derivatives and others: The turnover of IP derivatives and others was 484 million yuan, a decrease of 5% compared to the same period in 2023.
Chen Rui, the chairman and CEO of Bilibili, said that 2024 achieved a good start. In the first quarter, the community achieved comprehensive and healthy growth, while the financial performance was improved. Under the effect of the prosperity and development of diversified content, the community continued to thrive, and the daily active users increased by 9% year-on-year to 102.4 million. The monthly active users in the first quarter also set a new high of 341.5 million, an increase of 8% year-on-year. Users remained highly active, and the average daily usage time of users reached 105 minutes, setting a new historical high.
