Summary by Futu AI
Bilibili announced its unaudited financial performance for the third quarter ending September 30, 2024 on November 14, 2024. The quarterly revenue reached 7.306 billion RMB, a 26% year-on-year increase. Among them, revenue from mobile gaming and advertising increased by 84% and 28% year-on-year respectively. Gross profit surged by 76% year-on-year, reaching 2.547 billion RMB, with the gross margin increasing from 25.0% in the same period last year to 34.9%. The company's net loss significantly narrowed to 79.8 million RMB, a 94% year-on-year decrease. Adjusted net profit turned from a net loss of 0.863 billion RMB in the same period last year to a profit of 0.236 billion RMB. Daily active users reached 0.1073 billion, hitting a new high. The company's management remains bullish on the future commercialization capabilities and the strengthening of the community ecosystem, planning to use existing cash reserves for share repurchases.