Caixin
Jun 23, 2022 08:19 PM
RESEARCH & ANALYSIS

Analysis: Bilibili’s Loss Widens as Costs Spiral

Nasdaq-listed Bilibili Inc. saw a widening loss in the first quarter this year, as the Chinese video-streaming and mobile gaming giant spent big to lure users in an ultra-competitive market depressed by the Covid-19 pandemic.

The company reported a 2.3 billion yuan ($343 million) net loss in the first quarter, widening 152% year-on-year, more than double the increase in the same period last year, according to its latest earnings report. Revenues grew 30% to 5.1 billion yuan, much slower than 68% in the same period in 2021.

 

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