值得注意的是，哔哩哔哩的三季度业绩向好，公司股价却一度大跌超过13%，股价表现与公司业绩增长并不一致引起了市场的关注。① How was bilibili's overall performance in the third quarter? ② What is the specific content of the cooperation agreement between bilibili and Tencent? ③ What impact will these agreements have on bilibili's financial situation in the next few years?
According to financial media on November 15 (edited by Hu Jiarong), today $BILIBILI-W (09626.HK)$ the third quarter results were announced, achieving profit for the first time in the quarter. However, the stock price experienced a significant drop, at one point falling over 13% during trading. As of the time of publication, it had dropped 10.34%, reporting at 145.6 Hong Kong dollars.
From the chart above, the performance of bilibili's Hong Kong stocks today continued the sharp decline of the US stocks. $Bilibili (BILI.US)$ U.S. stocks closed down 12.60%, finishing at 18.59 dollars.
bilibili's third-quarter performance is positive
It is worth noting that bilibili's third-quarter performance is positive, but the company's stock price once dropped by over 13%. The discrepancy between stock price performance and company performance growth has attracted market attention.
According to the announcement, bilibili's total net revenue in the third quarter reached 7.306 billion yuan, an increase of 26% compared to the same period last year.
In the field of mobile games, bilibili's revenue reached 1.823 billion yuan, a significant increase of 84% year-on-year. The advertising business also performed well, with a revenue of 2.094 billion yuan, a 28% year-on-year increase.
In terms of profitability, bilibili's gross profit reached 2.547 billion yuan, an increase of 76% year-on-year. The gross margin also increased from 25.0% in the same period last year to 34.9%, demonstrating a significant improvement in the company's operational efficiency. Although the net loss was 0.079 billion yuan, compared to the same period last year, the loss has narrowed significantly by 94%.
Even more encouraging is the adjusted net income reaching 0.236 billion yuan, while the adjusted net loss for the same period last year was 0.863 billion yuan, marking the first profitable quarter.
The sharp drop in stock price may be related to cooperation with Tencent.
Bilibili announced yesterday that it has reached a series of partnership agreements with tencent's affiliated companies, including payment services, cloud computing service, and general business cooperation. $TENCENT (00700.HK)$ According to the payment services agreement, tencent will provide payment processing services to bilibili and has set annual service fee caps for the years 2025 to 2027, amounting to 83 million yuan, 0.11 billion yuan, and 140 million yuan respectively.
Looking back over the past three years (2021 to 2023), the service fees paid by bilibili to Tencent were 24.8 million yuan, 31.7 million yuan, and 47.80 million yuan, showing an increasing trend year by year.
Some analysts point out that investors may be cautious about the company's upcoming strategic cooperation with Tencent. bilibili will need to pay Tencent 83 million yuan, 0.108 billion yuan, and 1.4 billion yuan in service fees from 2025 to 2027, and this expenditure will directly impact the company's profit performance.
Editor / jayden
