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Entertainment Platform Bilibili's Net Loss Widens Despite Surging Revenue

By Runhua Zhao  / Aug 27, 2019 11:45 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese entertainment platform Bilibili’s second-quarter revenue grew 50% year-on-year on the back of strong performance in its mobile games business — but that hasn’t been enough to offset ballooning costs.

Although Bilibili’s revenue hit 1.5 billion yuan ($224 million), with mobile games contributing 60% of the total, the Nasdaq-listed company’s adjusted net loss during the quarter widened to 256.1 million yuan from a loss of 19.5 million yuan a year ago, according to results announced Tuesday.

Bilibili’s stock price dropped 4.34% during after-hours trading on Tuesday.

Nevertheless, Bilibili Chief Financial Officer Sam Fan said the results demonstrated a “more balanced revenue mix,” with non-gaming sectors’ gains surging 162% during the period. Notably, Bilibili’s second largest revenue source— its live-streaming unit—surged 175% from last year to 326 million yuan.

Summer also brought a seasonal boost to Bilibili's active user base, which reached a record daily average of 33.2 million, Bilibili said.  

Established in 2009, Bilibili is backed by Tencent and Alibaba. The platform is particularly popular among China’s post-millennial Generation Z for its anime, comics and games.

Related: In Blast From the Past, 'Vlogs' Look Like China's Next Big Thing Online

Contact reporter Zhao Runhua (

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