Why Bilibili (BILI) Shares Are Falling Today - Bilibili (NASDAQ:BILI)

Bilibili Inc BILI reported second-quarter FY22 revenue growth of 9% year-on-year to $732.9 million (RMB4.9 billion), beating the consensus of $709.4 million.
Drivers: Average monthly active users (MAUs) increased 29% Y/Y to 305.7 million. Average daily active users (DAUs) climbed 33% Y/Y to 83.5 million, and Average monthly paying users (MPUs) jumped 32% Y/Y to 27.5 million.
Revenues from mobile games were $156.2 million, down 15.2% Y/Y, VAS grew 29% Y/Y to $314 million, and advertising jumped 10% Y/Y to $172.9 million. E-commerce revenues increased 4% Y/Y to $89.7 million.
Adjusted EPS loss of $(0.74) missed the consensus loss of $(0.64). Bilibili held $3.7 billion in cash and equivalents.
CFO Sam Fan said, "Our advertising revenues and VAS revenues grew 10% and 29%, respectively, year-over-year, against the backdrop of a grueling industry climate. More importantly, we increased our user base while implementing rigorous expense control measures that decreased sales and marketing expenses by 16% year-over-year. Our proposed conversion to primary listing on The Main Board of The Stock Exchange of Hong Kong Limited is expected to be effective on October 3, 2022."
Also Read: Why Alibaba, Other Chinese Firms Could Seek Shifting Primary Listings to Hong Kong
Outlook: Bilibili sees Q3 FY22 revenues of RMB5.6 billion - RMB5.8 billion.
Price Action: BILI shares traded lower by 8.34% at $21.65 in the premarket session on the last check Thursday.
Photo Via Wikimedia Commons

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Bilibili Clocks 9% Revenue Growth In Q2; Updates On Hong Kong Stock Exchange Listing