Bilibili Clocks Healthy Q3 Revenue Growth, MPUs Jump 19%

  • Bilibili Inc BILI reported third-quarter FY22 revenue growth of 11% year-on-year to $814.5 million (RMB5.8 billion), beating the consensus of $797.03 million.
  • Drivers: Average monthly active users (MAUs) increased 25% Y/Y to 332.6 million. Average daily active users (DAUs) climbed 25% Y/Y to 90.3 million, and Average monthly paying users (MPUs) jumped 19% Y/Y to 28.5 million.
  • Revenues from mobile games were $206.8 million, up 6% Y/Y, VAS grew 16% Y/Y to $310.6 million, and advertising jumped 16% Y/Y to $190.5 million. E-commerce revenues increased 3% Y/Y to $106.5 million.
  • Adjusted EPS loss of $(0.63) beat the consensus loss of $(0.65). Bilibili held $3.4 billion in cash and equivalents.
  • Bilibili is now a dual-primary listed company on the Hong Kong Stock Exchange and the Nasdaq.
  • "In the third quarter, we took steps to shore up our business foundation and narrow our losses while continuing to provide users with the products and services they love," said Mr. Rui Chen, Chair and CEO. "Putting profitability first, we will take additional initiatives to accelerate our monetization and implement cost containment measures, including rationalizing headcount planning and cutting sales and marketing expenses, with our goal set to improve our margins and narrow our losses."
  • Outlook: Bilibili sees Q4 FY22 revenues of $843.47 million (RMB6.0 billion) - $871.58 million (RMB6.2 billion), below the consensus of $876 million.
  • Price Action: BILI shares traded higher by 9.61% at $13.80 in the premarket session on the last check Tuesday.
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