Why Bilibili Shares Are Plunging Today

  • Bilibili Inc BILI reported first-quarter FY22 revenue growth of 30% year-on-year to $797.3 million, beating the consensus of $757.6 million.
  • Drivers: Average monthly active users (MAUs) increased 31% Y/Y to 293.6 million, and Mobile MAUs rose 33% Y/Y to 276.4 million. Average daily active users (DAUs) climbed 32% Y/Y to 79.4 million, and Average monthly paying users (MPUs) jumped 33% Y/Y to 27.2 million.
  • Revenues from mobile games were $214.2 million, up 16% Y/Y, VAS grew 37% Y/Y to $323.7 million, and advertising jumped 46% Y/Y to $164.2 million. E-commerce revenues increased 16% Y/Y to $95.2 million.
  • Also Read: China's Game Approval List Continues To Miss Leading Names Like Tencent, NetEaseHere's Why Alibaba Shares Are Trading Lower Premarket After Brief Jump
  • Adjusted EPS loss of $(0.66) missed the consensus loss of $(0.62). Bilibili held $3.9 billion in cash and equivalents.
  • "In the face of the unexpected COVID-19 resurgence and lockdowns, the first quarter presented new challenges impacting businesses nationwide, particularly in Shanghai, where our headquarters is based," said Rui Chen, Chair and CEO. "As we move through the year, cost control and expense reduction will be paramount to helping us weather the macro headwinds."
  • Outlook: Bilibili sees Q2 FY22 revenues of $765.07 million - $780.8 million, above the consensus of $711.6 million.
  • Hong Kong Listing Update: Bilibili looks to trade on the Hong Kong exchange after completing dual listing formalities by October 3.
  • Price Action: BILI shares traded lower by 12.82% at $25.90 in the premarket session on the last check Thursday.
  • Photo Via Wikimedia Commons

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